The When, Where, & Why of Business Activity Monitoring
In my last post I defined Business Activity Monitoring (BAM) and alluded to who should be using such technology. In this blog post, I’ll discuss when and where BAM can have the most impact and why it’s so important. But first, let me make it clear that when I say BAM, I inherently mean the most visible feature of BAM solutions – dashboards.
To illustrate the when, where, and why of BAM, I’d like to consider a supply and logistics example of a retail clothing business. Suppose that a business executive of a retail clothing chain wants to view transaction patterns that have or will lead to inventory shortages and supplier delivery inefficiencies. Through an interactive BAM dashboard, an executive can organize the relevant information in any way that makes sense and support his specific question, define and visualize KPIs, or even drill-down to the smallest of details – e.g., The average revenue in a particular geographical territory.
The rich user-interface of a BAM dashboard enables users to create new views and correlations with the simplicity of clickable icons to compare current versus historical trends, drag-and-drop charts, and merge other data sets. As a result, users can easily organize and customize dashboards to monitor and analyze events, key performance indicators, service level agreements, and other important metrics through such BAM solutions.
In the next, and final, post, I discuss how BAM solutions provide operational managers a versatile real-time monitoring and analytics tool as part of an Operational Intelligence Suite.