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What’s the purpose of business intelligence and reporting?

The purpose of business intelligence (BI) and reporting is to provide organizations with the information and insights they need to make informed business decisions. BI refers to a range of technologies, processes, and practices that are used to collect, integrate, analyze, and present data from various sources. Reporting is the process of presenting this information in a clear and concise manner, often in the form of reports or dashboards.

A digital dashboard is a visual display of key performance indicators (KPIs) and other relevant data that is used to monitor and manage the performance of an organization or business unit. Digital dashboards are typically used to provide real-time or near real-time data on the status and performance of key business processes or initiatives.

In the context of integrated IT portfolio analysis, a digital dashboard can be an important tool for helping organizations understand and manage their IT investments. An IT portfolio is a collection of all the IT projects and initiatives that an organization is currently pursuing or planning to pursue. Integrated IT portfolio analysis is the process of evaluating and reviewing an organization’s IT portfolio to make informed decisions about its IT investments and initiatives.

There are several reasons why a digital dashboard can be an important tool in the context of integrated IT portfolio analysis:

  1. Real-time visibility: A digital dashboard provides real-time or near real-time visibility into the performance of IT projects and initiatives. This allows organizations to quickly identify and address any issues or challenges that may be impacting the success of these projects.
  2. Data-driven decision-making: A digital dashboard provides access to a range of data and KPIs that can be used to inform decision-making about IT investments and initiatives. This data can help organizations understand the value and impact of their IT projects and identify opportunities to optimize or improve their performance.
  3. Improved communication: A digital dashboard can be used to communicate the status and performance of IT projects and initiatives to stakeholders within and outside of the organization. This can help to build support for these projects and ensure that they are aligned with the needs and expectations of key stakeholders.
  4. Enhanced collaboration: A digital dashboard can be accessed and shared by multiple stakeholders, which can help to facilitate collaboration and coordination within and across teams. This can be particularly important in the context of IT portfolio management, where multiple projects and initiatives may be interdependent.
  5. Increased efficiency: By providing real-time visibility into the performance of IT projects and initiatives, a digital dashboard can help organizations to identify and address issues more quickly and efficiently. This can help to improve the overall efficiency of the organization’s IT portfolio management process.

Overall, the importance of a digital dashboard in the context of integrated IT portfolio analysis lies in its ability to provide real-time visibility, support data-driven decision-making, improve communication and collaboration, and increase efficiency. By using a digital dashboard to monitor and manage the performance of their IT projects and initiatives, organizations can ensure that they are maximizing the value of their IT investments and aligning them with the needs and expectations of their stakeholders.