KPIs are controversial, they do assume that information and data are integrated and are of high quality. With more and more generation of unstructured data in the Information Systems, quality of KPIs is also highly volatile and questionable.
Continue reading Key Performance Indicator Problems [...]
Definition of parameters in reports significantly determine business performance measurement. Definitions influence reports, personal goals and benchmarking quality. If the official reporting consistency is changed due to change in definition,
Continue reading Definition Influence [...]
Information Systems are not stabile systems because of too many components that might influence final non-financial figures. All that can be done is to give most accurate figures from current definitions and with given resources from unstable systems.
Continue reading Accuracy of Figures for Stock Exchange [...]
Marketing Analyst: What is the correct figure asks marketing data warehousing team? IT developer: Both figures are ok. Marketing Analyst: We know that both figures are ok but which one is correct for our KPI?
Continue reading Defining Key Performance Indicators [...]
Data and Information are very often mixed like it is same synonim. It is not. Data are set of facts describing objects and their relations in space and time. Data can have usage value or not. This is the basic difference between data and information. Data becomes information when it brings news to user and grows his knowledge. Data with usage value is information and data becomes information happens with data processing by organizing and analyzing data. Information is received and understood message. Information is data placed in context while data is out of context.
Continue reading Data, Information, Knowledge, Wisdom [...]