Business Performance Metrics Will Be Critical IT Elements: Gartner
Organizations are adopting intelligent business process management suites (iBPMSs) to increase their proactive response to business disruptions.As companies enter the digital world, they will need to digitalize business processes, invent new digital business models and compete at the speed of business moments, and organizations that use predictive business performance metrics will increase their profitability by 20 percent by 2017, according to a report from IT research firm Gartner. With this in mind, organizations are adopting intelligent business process management suites (iBPMSs) and operational intelligence platforms to dramatically increase their successful and proactive response to unexpected business disruptions. These technologies leverage predictive analytics and provide information that makes it easier to identify relevant predictive metrics. Gartner estimates that the BPMS market will reach $2.8 billion in 2014, an 8.8 percent growth from 2013. "Using historical measures to gauge business and process performance is a thing of the past," Samantha Searle, research analyst at Gartner, said in a statement. "To prevail in challenging market conditions, businesses need predictive metrics—also known as "leading indicators"—rather than just historical metrics (aka "lagging indicators")."
The report noted organizations struggling to cope with today’s accelerated business cycles, which require business and IT leaders to track work in progress, are seeing an increasingly vital need to make optimization adjustments in real time, and increase organizational responsiveness to market dynamics and evolving event patterns.