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Business Intelligence Focus Groups

Business Intelligence Focus Groups. June, 2009. Agenda. Welcome Introductions Presentation on Business Intelligence Discussion Groups – Identifying Issues Agree Next Steps Conclusion and Wrap-up. Introductions. Your Name Credit Union What do you currently report on each month

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Business Intelligence Focus Groups

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  1. Business IntelligenceFocus Groups June, 2009

  2. Agenda • Welcome • Introductions • Presentation on Business Intelligence • Discussion Groups – Identifying Issues • Agree Next Steps • Conclusion and Wrap-up

  3. Introductions • Your Name • Credit Union • What do you currently report on each month • How long do you take to prepare those reports • Your Expectations for Today

  4. Focus Group Objectives • To identify the information needs of your credit union • Discuss and agree priority information needs to enable informed decision making

  5. ICT Strategy – Overview ICT OFFICE Select Projects PROJECT MANAGEMENT OFFICE Ensure Delivery VALIDATION To Ensure all Products & Services “Fit for Purpose” Secure Credit Union Network Key to Enable Future Products & Services Business Intelligence ThePOWERof Information STANDARDS Doing Things the Same Resolution 49

  6. ICT Strategy – Business Intelligence • Referred to as “Business Intelligence” • Movement-Wide Information Store • Holds Validated Information for all Products and Services • Assist in Compliance Reporting • “Proof of Concept System” • Engage with Credit Unions • First Focus Group 10th March 2009 • Additional Focus Groups Planned • Understand Credit Union Information Needs • Identify the most Meaningful and Informative Statistics

  7. The Power of Information • “Business Intelligence” • First Service on Secure Network • Meaningful Statistics • Bring Immediate “Value” to Boards & Managers • Will Enable Effective • Business Planning • Business Forecasting • Trends Analysis • Benchmarking PROJECT CONNECT ROADSHOWS 2009

  8. What are the key questions to be addressed? • Key questions: • Why do you need good management information? • What constitutes good—and bad—information? • How do you make your information better?

  9. Why do you need good management information? • Three key aspects of the management of an organisation require robust information: • Performance management • Financial management • Risk management and control

  10. Performance management • "Traditional" financial reporting—profit & loss, balance sheet, etc. • Profit & loss: • Profit / margin • Dividends • Balance sheet • Trial Balance • Expenses

  11. Financial management • Focus is on: • liquidity and cash • not revenue and profit • Pearls Ratios

  12. Risk management and control • How is management information relevant to governance? • Boards, especially non-executives, need to pay more attention to the detail of operations, and demand better information • How can information support better internal controls? • Continuous control monitoring • Reporting by exception • Problem indicators

  13. What characterises 'good' and 'bad' information? Bad information • Too much detail • Not easily absorbed • Irrelevant or poorly designed graphs • Focused on statistics • Exists only at entity or summary level Good information • Clear and concise • Easily absorbed • Shows true, meaningful trends • Focused on decisions • Allows for comparison • Facilitates "internal competitiveness"

  14. How do you make your information better? • Information must support the decision-making process • Review all the information provided • If it doesn't support the decision making process, what is it for? • Review the decisions you need to make • Do you have all of the information you need to make those decisions? • Is it readily available or does it require effort?

  15. How do you make your information better? • Adhere to the basic principles: • Summarise • Present the whole picture • Categorise, classify, stratify • Compare different aspects of your business • Show trends, not just numbers • Make it timely • Ensure reliability, integrity....

  16. Summary • "Business information" is not about implementing expensive "BI solutions" • It's about: • Analysing your information requirements • Focusing on the information you really need to support the decision-making process • Applying the principles described here • Getting the information you need by whatever means is appropriate

  17. Discussion Groups • Three Scenarios • Financial • Marketing • Training • Your OWN • Each Group to discuss Scenarios and answer the related questions. • Present findings

  18. BI - Decision Making The process of decision making • Defining the problem (a decision situation that may deal with some difficulty or with an opportunity) • Constructing a model that describes the real-world problem • Identifying possible solutions to the modeled problem and evaluating the solutions • Comparing, choosing, and recommending a potential solution to the problem

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