Ventana Research recently released the results of our Next-Generation Business Planning benchmark research. Business planning encompasses all of the forward-looking activities in which companies routinely engage. The research examined 11 of the most common types of enterprise planning: capital, demand, marketing, project, sales and operations, strategic, supply chain and workforce planning, as well as sales forecasting and corporate and IT budgeting. We also aggregated the results to draw general conclusions.
Topics: Big Data, Planning, Predictive Analytics, Sales, Sales Performance, Social Media, Supply Chain Performance, forecasting, Marketing, Reporting, Budgeting, Controller, sales forecast, strategic, workforce, Customer Performance, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Financial Performance, In-memory, Workforce Performance, CFO, Supply Chain, capital spending, demand, Financial Performance Management, financial reporting, FPM, Integrated Business Planning, S&OP, spreadsheet
Business planning includes all of the forward-looking activities in which companies routinely engage. Companies do a great deal of planning. They plan sales and determine what and how they will produce products or deliver services. They plan the head count they’ll need and how to organize distribution and their supply chain. They also produce a budget, which is a financial plan. The purpose of planning is to be successful. Planning is defined as the process of creating a detailed formulation of a program of action to achieve some overall objective. But it’s more than that. The process of planning involves discussions about objectives and the resources and tactics that people need to achieve them. When it’s done right, planning is the best way to get everyone onto the same page to ensure that the company is well organized in executing strategy. Setting and to a greater degree changing the company’s course require coordination. Being well coordinated in this case means being able to understanding the impact of the policies and actions in your part of the company on the rest of the company.
Topics: Big Data, Planning, Predictive Analytics, Sales Performance, Supply Chain Performance, Human Capital, Marketing, Reporting, Sales Forecasting, Budgeting, plan, strategic, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Customer & Contact Center, Financial Performance, Business Planning, Supply Chain, Demand Planning, Integrated Business Planning, Project Planning, S&OP
This is the beginning of the season when companies that are on a calendar year begin their strategic and long-term planning. Ventana Research performed an extensive investigation in this area with our long-range planning benchmark research. Strategic and long-range planning is a process and discipline that companies use to determine the best strategy for succeeding in the markets they serve and then ensure they have the capabilities and resources needed to support their strategic objectives.
Topics: Master Data Management, Performance Management, Planning, Sales Performance, Supply Chain Performance, forecasting, Reporting, Budgeting, dashboard, long-range planning, strategic, strategy, Operational Performance, Business Performance, Customer & Contact Center, Financial Performance, Workforce Performance, CFO, Data, BI, CEO, Financial Performance Management, FPM, scorecard
The business/IT divide is a barrier that prevents most companies from achieving their true performance potential. The divide has remained a constant impediment since the dawn of business computing six decades ago. It’s not necessary for a CEO of a company to be able to write Java code or master the intricacies of an ERP or sales compensation application. However, that CEO must master the basics of IT just as he must understand basic corporate finance, the production process and – at least at a high level – the technologies that support that process. Only a handful of business schools give prospective MBAs a good grounding in the practical elements of information technology or preach the necessity of mastering an understanding of IT as they would, say, the efficient market hypothesis.
Topics: Big Data, Performance Management, Sales Performance, Supply Chain Performance, competition, executive, strategic, strategy, Operational Performance, Business Performance, CIO, Cloud, Customer & Contact Center, Financial Performance, In-memory, Workforce Performance, CFO, IT, CEO, FPM