With the rise of digital technology, businesses are facing new challenges:
- How to use data to improve decision-making in a timely manner?
- How to keep track of your customer journey across different channels?
- How do you monitor performance and make sure you’re on track with business objectives?
The answer is Business Activity Monitoring (BAM).
Business Activity Monitoring (BAM) while not new, is a critical component of operational intelligence solutions that deliver business operations visibility.
The true business value of BAM is realised through the real-time visibility of critical business and ICT Key Performance Indicators (KPIs), which provides organisations with the ability to make decisions and immediately act on these analytic insights, through manual or automated actions. This enables businesses to align people, processes and technology as the interdependencies between these three areas are visible, giving organisations a clear understanding of how this impacts their customers (internal and external).
It is distinct from Business Intelligence(BI) dashboards as events are processed in real-time or near real-time (optional) and pushed to the BAM dashboards, while BI dashboards refresh at predetermined intervals.
BAM is designed to work beyond IT and in fact can be used by anyone in the organisation who needs to measure business activity, understand performance and make decisions based on that information. It enables organisations to monitor their complex environments in real-time, giving them the ability to respond more effectively.
Successful BAM projects are implemented by BAM Specialists.
A BAM Specialist has a deep understanding of BAM, how it works and how to implement it successfully. They are able to bring together business requirements with technical capabilities, ensuring that the solution meets everyone’s needs.
BI or BPM resources are not BAM specialists and this unfortunate misconception often causes projects to fail.
Mediro BAM specialists have the skills and experience to ensure that your BAM project is a success!
We can help you:
- Set up your BAM environment.
- Configure the solution for the business requirements.
- Implement the solution using best practices, ensuring that it is fit for purpose.
- Train users on how to use the tool effectively.
4 ways Business Activity Monitoring supports sustainable growth.
- Optimisation of internal ICT resources reduces support and operational costs
- It provides consistent customer relationships and service which fosters continuous brand loyalty and spending
- BAM improves collaboration and transparency between all stakeholders in the value chain which creates more accountability and reduces war room scenarios
- BAM provides a platform for innovation by enabling continuous delivery of business-driven changes to enterprise systems
Use cases for Business Activity Monitoring
- Customer Experience Monitoring
- Financial and Supply Chain Monitoring
- People Performance Monitoring
- Marketing and Sales Monitoring
- E-Commerce offerings and customer journey monitoring
- Fraud Detection Monitoring
- Payment Process Monitoring
- Service Level Agreement (SLA) Monitoring of Outsourced Contracts
- Organisational Level Agreement (OLA) Monitoring of internal agreements and cost allocation.