Quarterly Financial Leaders Series – Enterprise Performance Management (EPM) methods, Business Intelligence (BI), and Business Analytics

Description

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Many organizations are far from where they want and need to be with improving performance, and they apply intuition, rather than hard data, when making decisions. Enterprise and corporate performance management (EPM / CPM) methods are now viewed as the seamless integration of managerial methods such as balanced scorecards, strategy maps, enterprise risk management, driver-based planning and budgets, rolling financial forecasts, activity-based costing (ABC), customer profitability and relationship management, supply chain management, lean and Six Sigma quality management, and resource capacity planning.

Each of the EPM methods should be embedded with business analytics (BA) of all flavors; such as correlation, segmentation, and regression analysis; and especially predictive analytics.

Regarding planning, the annual budget is often perceived as a fiscal exercise done by the accountants that is: (1) disconnected from the executive team’s strategy and risk management mitigation plans, and (2) does not adequately reflect future volume drivers. The budget exercise is often scorned as being obsolete soon after it is produced, and biased toward politically muscled managers who know how to overstate and “pad” their budget request.

Some organizations revert to rolling financial forecasts, but these projections may include similarly flawed assumptions that produce the same sarcasm about the annual budgeting process. Two components of the enterprise and corporate performance management (EPM / CPM) framework, strategy maps and activity-based costing principles, can be drawn on to resolve these limitations.

Building a core competency in strategy execution creates a competitive advantage for commercial organizations and increases value for constituents of public sector organizations. This competency links the strategy to the resources required to achieve plans.

This presentation will describe how to complete the full vision of analytics-based enterprise performance management to improve organizational performance.

To see Gary’s Bio, please click here – Gary Cokins Bio

Learning Objectives
  1. After completing this course you will be able to:
  2. Identify the differences are between business intelligence (BI), business analytics (BA), and Big Data.
  3. Identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators (PIs) in dashboards.
  4. Target which customers to retain, grow, win-back, and acquire; and how much to optimally spend pursuing these.
  5. Imbed statistics and analytics into product, channel, and customer profitability analysis.
  6. Perform “predictive accounting” for driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions.
  7. How effective planning identifies where and how to increase productivity and reduce costs.
  8. Imbed business intelligence (BI), statistics, and analytics into probabilistic driver-based budgets / rolling financial forecasts.
  9. Overcome implementation barriers such as disparate data sources, poor quality input data, and behavioral resistance to change and fear of being held accountable.
Major Topics
  1. Balanced scorecards, Strategy maps, Enterprise risk management, Driver-based planning and budgets, Rolling financial forecasts, Activity-based costing (ABC), Customer profitability and relationship management, Supply chain management, Lean and Six Sigma quality management, and Resource capacity planning.
Provider
Business Learning Institute
Course Level
Basic
Professional Area of Focus
BLI Leadership
Business & Industry
Technology
CPE Field of Study
Finance
4
Who Should Attend
CFOs, Controllers, and other financial managers
Instructor(s)
Gary Cokins
Location

Loyola University Maryland Graduate Center Columbia Campus, 8890 McGaw Rd Columbia, MD 21045-4743

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When
Nov 30, 2017
8:00 am - 12:00 pm
Location
Loyola University Maryland Graduate Center Columbia Campus, 8890 McGaw Rd Columbia, MD 21045-4743
Total CPE Credits
4
Format
In-Person
Instructor
Gary Cokins

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Quarterly Financial Leaders Series – Enterprise Performance Management (EPM) methods, Business Intelligence (BI), and Business Analytics


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