“BI” yourself a ticket to better business outcomes
Making smart business decisions requires both good data and tools. That's where PPM solutions can help
It’s a familiar story: today’s enterprises have the data they need to make smart decisions, but lacking the tools to turn this action, they’re simply buried by the weight of it.
To understand the marketplace in which enterprises operate today, we should look to the railway network. Much like train operators, businesses know that they need to offer better, faster, and cheaper services to attract and retain customers.
Without a comprehensive, real-time picture of what’s happening across projects and initiatives, executives won’t be able to make the best strategic decisions and deliver a return on their investments. In short, the train will leave the station without any passengers on it.
That’s where project and portfolio management (PPM) solutions come in.
A recent Gartner survey of 3,000 CIOs confirmed what we’ve long suspected: analytics and business intelligence (BI) is considered the top differentiating technology for their organizations. In fact, Gartner is predicting that by 2019 the analytics output of business users with self-service capabilities will surpass that of professional data scientists.
But one issue remains. Many organisations’ portfolio management models are designed for IT demand management that result in strategies being led from the bottom, rather driven than by objectives from the top. The result is a lack of focus on innovation, and no alignment of projects with the wider business objectives.
So, how can the latest software solutions help key stakeholders achieve better business outcomes faster, and from the top down?
According to the 2018 Wisdom of Crowds Business Intelligence Market Study, enhanced customer service is the fastest growing business objective enterprises are looking to achieve through BI in 2018.
As the ‘conductors’ within the enterprise, executive leaders must ensure this objective is delivered across projects and initiatives. And for any strategic decision-maker, the ability to respond to change quickly will drive real value for customers. Having a single source of truth, personalized for the individual user, allows decision-makers to access all the data they need in one tool.
A recent survey CA conducted with TechValidate found that two thirds of customers believe the ability for decision-makers to access real-time data on a mobile device was important. This demonstrates the dynamic nature of modern business intelligence, and the way in which PPM software needs to keep up.
CA PPM, our single platform PPM and BI tool, allows access to customised reports on-the-go with any device, without assistance from specialists. Roadmap features mean that decision-makers can get a holistic view of proposed and on-going projects to better understand how they fit into business objectives.
Keeping the trains running also requires prudent budget management, and a huge part of the role of any financial manager is minimizing risk and determining how best to finance projects. Real-time visibility is key to staying on track, but what if they could understand the health of a project earlier and with a higher rate of accuracy?
According to 87 percent of the organizations that we surveyed, trending capabilities that help to accurately predict project success or failure are important.
Good BI solutions offer real-time status reports, but it takes something unique to understand trends and apply them as a predictor of future outcomes. Forecasting tools offers finance managers the ability to identify projects trending in the wrong direction so that alterations can be made in time to change the outcome.
CA PPM and Power BI do just that.
If a project is running over budget early on in its life-cycle, the CA PPM data warehouse alerts finance managers to this issue so they can make adjustments before it’s too late.
Our survey showed that 43 percent of organizations think there are too many manual steps involved in reporting. Too much time is taken up on non-productive work: namely, importing data from various sources and cleaning it up to generate reports.
These labor-intensive tasks detract from the ultimate purpose of the project manager – to ensure the company sticks to the timetable and provides a better customer service.
The evolution of PPM software from tactical tools focused on IT demand management to solutions that automate time-consuming processes has freed up project managers to focus on delivering insights that reduce time to better business outcomes. In short, getting their passengers from A to B as quickly and effectively as possible.
CA PPM has led the way in this development, simplifying processes and adding powerful functionality to increase visibility on the health and status of a project.
CA has kept its finger on the pulse of the market through first-hand experience of how some of the largest and most successful businesses in the world use PPM, and how their needs and expectations have evolved over time.
We’re putting this experience to work in our ambitious mission to redefine how work is accomplished in the application economy. How? By bridging the gap between insights and action and easing the burden of key stakeholders.
With the right team focused on setting the right direction, there’s every reason to think enterprises can continue on-boarding new customers without losing old ones. But with the latest estimates showing that three in four of the S&P 500 will be replaced by 2027, it’s the final call for all businesses looking to survive in the 21st Century.
Find out more about the new features of CA PPM, and how it can reduce the time to better business outcomes for your organisation.