Balanced scorecarding, a method of measuring activities and outcomes for effective performance management, is one of the most popular concepts in advanced business intelligence (BI) today. In short, it enables executives (as well as employees at every level of the organization) to quickly measure their performance as it relates to the goals and objectives that have been set for them.
Scorecarding can add tremendous value to the management process because the entire team can see what they want to achieve both within their own area of responsibility as well as throughout the overall enterprise, which guides them in determining what needs to be done to reach their goals. They can see how their efforts fit into the overall perspective at all stages of the process and make whatever changes are necessary.
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