A Balanced Scorecard for Maximizing Data Performance
Year: 2022
Type: review
Abstract: A good performance monitoring system is crucial to knowing whether an organization's efforts are making their data capabilities better, the same, or worse. However, comprehensive performance measurements are costly. Organizations need to expend time, resources, and personnel to design the metrics, to gather evidence for the metrics, to assess the metrics' value, and to determine if any actions should be taken as a result of those metrics. Consequently organizations need to be strategic in selecting their portfolio of performance indicators for evaluating how well their data initiatives are producing value to the organization. This paper proposes a balanced scorecard approach to aid organizations in designing a set of meaningful and coordinated metrics for maximizing the potential of their data assets. This paper also discusses implementation challenges and the need for further research in this area.
Source: Frontiers in Big Data
Author: Elizabeth Pierce
Institution: University of Arkansas at Little Rock
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,150
Funder: National Science Foundation
OpenAlex ID: W4221122296