Tools For Business Performance Evaluation - Group 5

TOOLS FOR BUSINESS PERFORMANCE EVALUATION Tools for Business Performance Evaluation GROUP 5 ZHYRA PINONGPONG KYLA MAE NERI CRISTINE ADOLFO...

TOOLS FOR BUSINESS PERFORMANCE EVALUATION Tools for Business Performance Evaluation GROUP 5 ZHYRA PINONGPONG KYLA MAE NERI CRISTINE ADOLFO KEIZEL VELARDE HANEMY LIPARDO Module 1: Introduction to Business Intelligence Tools and Analytics What is Business Performance Evaluation? Definition: Business Performance Evaluation is the systematic process of assessing the effectiveness and efficiency of a business or organization. Why it matters:  Identify strengths and weaknesses  Improve decision-making  Track progress toward goals  Optimize resource allocation  Enhance competitiveness KEIZEL  Business Intelligence Tools & Analytics Definition: Business intelligence (BI) tools and analytics are software applications that help businesses collect, analyze, and visualize data to gain insights. Key Components:  Data Collection: Gathering data from various sources (e.g., databases, spreadsheets, web analytics)  Data Cleaning and Transformation: Preparing data for analysis by correcting errors and inconsistencies  Data Analysis: Applying statistical methods and algorithms to extract meaningful patterns and insights  Data Visualization: Presenting data in a clear and understandable manner through charts, graphs, and dashboards  Example Bl tools: Tableau, Power BI, Qlik Sense, Google Data Studio ZYHRA  Examples of BI Applications in Business  Marketing: Campaign performance analysis, customer segmentation, competitor analysis  Sales: Sales forecasting, sales pipeline management, customer relationship management  Finance: Financial reporting, budgeting, risk assessment  Operations: Supply chain management, inventory optimization, process improvement  Human Resources: Employee performance tracking, talent acquisition analysis, employee engagement metrics ZYHRA Module 2: Overview of Diagnostics Overview of Diagnostics Definition: Diagnostics are a critical part of business performance evaluation, focusing on identifying root causes of issues and understanding their impact. Types of Diagnostics:  Financial Diagnostics: Analyzing financial statements, ratios, and key performance indicators to assess financial health  Operational Diagnostics: Examining processes and workflows to identify inefficiencies, bottlenecks, and areas for improvement  Market Diagnostics: Analyzing market trends, competitor activities, and customer behavior to understand market position and opportunities Example diagnostic tools: SWOT analysis, Porter's Five Forces, Pareto analysis HANEMY Control Systems: Performance Scorecards Definition: Performance scorecards are visual dashboards that track and measure key performance indicators (KPIs) to monitor progress towards goals. Key elements:  Strategic Objectives: Defining overall business goals and priorities  KPIs: Measurable metrics that reflect progress towards objectives  Targets: Specific performance goals for each KPI  Timeframes: Defined time periods for measuring and reporting performance Example: Balanced Scorecard: A popular framework for designing performance scorecards, considering financial, customer, internal processes, and learning & growth perspectives. KYLA Project Monitoring Systems Definition: Project monitoring systems are tools and processes used to track the progress and performance of projects. Key components:  Project Management Software: Tools for task assignment, deadlines, and progress tracking (e.g., Asana, Trello, Jira)  Reporting and Communication: Regular updates on project status, risks, and challenges Collaboration and Team  Communication: Facilitating communication and collaboration among team members Benefits: Improved project planning, resource allocation, risk mitigation, and timely delivery. CRISTINE Conclusion Key take aways: Business Performance Evaluation is crucial for effective management and growth. BI tools and analytics provide valuable insights for data-driven decision- making. Diagnostics help identify and address issues. Control systems, including performance scorecards and project monitoring systems, support continuous improvement. THANK YOU