Business Activity Monitoring or BAM will help you keep track of business activities while they are being executed automatically. This is an important component of a business intelligence software package because it will help make critical decisions for your company during the process, giving immediate value to your business intelligence information. Not all packages come with this ability, so if you feel it is important to your business, you’ll want to ensure that it is available.
Reasons to Use BAM
Your company could use this application to:
- Detect changes in a project or in an order from a client and alert your team to these changes
- Adjust your activities based on demand of your services against your resources
- Detect and repair bottlenecks in your system
- Discover possible delays in your delivery to your clients
- Predict possible budgeting issues
BAM can help make you aware of problems as they occur so that your company is able to fix the issues and get your business activity back on track. It can also help you predict issues so that you can take preventative action, ensuring that your resources are used to continue to improve your business and not wasted scrambling to make last minute repairs to the system.
To Implement BAM
In order to use Business Activity Monitoring effectively, companies will need this technology:
- Business intelligence software that looks for specific events and notates them as an activity plays out
- Software that makes data available for analysis as soon as a specific event takes place using event-driven data integration technology. The data can come from BI reports, cubes, systems, data warehouses, external data sources, or any combination of data sources
- BI software that analyzes and produces intelligence regarding the selected integrated data set
- Software to determine automatically whether to take automated action on the intelligence and take that action.
This software should also have the capacity to make the manager of these activities aware of an action taken and any problems that have occurred or are anticipated. These alerts should also include any recommendations on how to proceed. By using BAM, your company can make important decisions regarding your business activity immediately and nip any possible issues in the bud. Being able to maintain or improve performance on an activity can minimize the impact on costs when problems arise.
Andrew Morgan is a writer and business expert who specializes in
Business Intelligence Software. For more information on
business intelligence, visit www.actuate.com.
