Thursday, 27 September 2012

IBM Cognos Metric Studio

IBM Cognos Metric Studio is the scorecarding and metrics tool in IBM Cognos Business Intelligence.Metric Studio is a performance tool for managing monitoring and analysing metrics, projects, and other performance measures within an organisation. 

It is used to create a scorecard application and monitor the metrics within the applications.It helps you ensure that your organisation’s performance is consistent with its targets and goals.You can use Metric Studio to create a customized scorecarding environment to monitor and analyze business metrics throughout your organization. A metric is a key performance indicator (KPI) related to time.In other words you use Metric Studio to monitor KPIs between one period and the next.A scorecard shows graphically how a metric is performing.This is typically done by using red, orange and green status notations.

IBM Cognos Metric Studio
Metric Studio helps you translate your organization's strategy into relevant, measurable goals that align each employee's actions with a strategic plan.
A scorecard shows graphically whether the metric has improved, got worse or stayed the same. Metrics have both status (whether the metric is within scope) and trend (performance relative to last period).The rich scorecarding environment of Metric Studio shows you where your organization is successful and where it needs improvement. The application is quite unique in the market given it specific support for Strategy Execution programs like the Balanced Scorecard.

It tracks performance against predetermined targets(metrics) and indicates the current status of the business so that decision makers at every level of the organization can react and plan. What ‘improved’ and ‘got worse’ actually mean is defined when the metric is set up. In other words, a bigger number might mean performance has improved or slipped, depending on what it is measuring.Metrics means just setting a value to compare the status over a period of time or we can define metrics as “A system or standard of measurement.” 

With Metric Studio, you can readily see how the organization is progressing against its strategy. You can set priorities for your own actions and understand how your decisions affect the performance of the company.You can navigate to Metric Studio content in the Content tab and add the following Metric Studio content to a dashboard.

  1. Watch lists
  2. Scorecards
  3. Strategies
  4. Metric types
  5. Individual metrics
When you add an individual metric to the dashboard, historical data for the metric displays in the form of a bar chart.For any other IBM Cognos Metric Studio content that you add, the content displays as a list of metrics for the selected item.You can use the flexibility of Metric Studio to model metrics and their relationships based on any standard or proprietary scorecarding and management methodology that you already use. 

Cognos Metric Studio
With Metric Studio, performance can be displayed either as a list report or a line chart. Often a chart makes it easier to spot trends.Actions can be set up to improve performance of a metric.The application delivers out of the box support for concepts like ownership, themes, objectives, strategy map, project-& initiative follow up, filing of attachments etc.

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