Using the major business performance management (BPM) processes, describe the general process of how the case study organization will collect data that are relevant to the following: o Strategize o Plan o Monitor o Act and adjust Describe specifically how the organization will formulate a business performance plan, as follows: o Conduct a current situation analysis. o Determine the planning horizon. o Conduct an environmental scan. o Identify critical success factors. o Identify the type of report you will use and why o Complete a gap analysis. o Create a strategic vision. o Develop a business strategy. o Identify strategic objectives and goals. · o Determine how Data Mining works o Implement the data mining process within your organization. Determine why you are using a specific one. o Build a technique for predictive model o Determine if you are using the different types of ANN architectures/or not o Recognize the implementation of the Understand the concept and formulation of k-nearest neighbor algorithm (kNN) in your business and specify the reason. o How would use the differentiate among text analytics, text mining, and data mining All sources should be cited both in-text and in the References section using APA format

In the context of business performance management (BPM), organizations typically follow a set of processes to collect relevant data. These processes include strategizing, planning, monitoring, and acting and adjusting. Let us discuss each process in detail:

1. Strategize: This process involves developing a strategic plan to guide the organization’s actions. To collect data for strategizing, the case study organization will conduct market research, competitor analysis, and customer surveys. This data will help identify market trends, customer preferences, and competitive advantages.

2. Plan: In this process, the organization formulates a business performance plan based on the strategic goals. To collect data for planning, the organization will conduct a current situation analysis by evaluating its internal strengths and weaknesses. This analysis can be done through financial statements, performance reviews, and customer feedback. Additionally, the planning horizon will be determined, setting the timeframe for achieving the strategic objectives.

3. Monitor: Monitoring involves collecting data to track the organization’s performance against the established goals. The case study organization will collect data through various sources such as sales reports, production metrics, customer feedback, and employee performance evaluations. This data will help assess whether the organization is on track or deviating from the desired performance.

4. Act and adjust: Based on the monitoring process, the organization will take action and make necessary adjustments to improve performance. Data collection in this process involves gathering feedback from employees, analyzing customer complaints, and assessing market changes. This data will help the organization identify areas of improvement and implement corrective actions.

Moving on to the formulation of a business performance plan, the case study organization will follow several steps:

1. Conduct a current situation analysis: This step involves evaluating the organization’s internal strengths and weaknesses. Data collection methods may include financial statements, SWOT analysis, and employee surveys.

2. Determine the planning horizon: The organization will define the timeframe for achieving its strategic goals. This may involve collecting historical data, market forecasts, and industry trends.

3. Conduct an environmental scan: This step involves gathering data on external factors that may impact the organization’s performance. Data collection methods may include market research, competitor analysis, and industry reports.

4. Identify critical success factors: The organization will identify the key factors that are crucial for achieving its strategic objectives. Data collection methods may include industry benchmarks, customer surveys, and expert opinions.

5. Identify the type of report to be used: The organization will select a specific type of report, such as a balanced scorecard or a performance dashboard, to track and communicate performance. The choice of report will depend on the organization’s requirements and the type of data to be presented.

6. Complete a gap analysis: The organization will compare its current performance against the desired performance and identify the gaps. Data collection methods may include benchmarking, performance reviews, and customer feedback.

7. Create a strategic vision: The organization will develop a clear and compelling vision for its future. Data collection methods may include strategic workshops, brainstorming sessions, and market research.

8. Develop a business strategy: Based on the identified gaps and strategic vision, the organization will formulate a comprehensive business strategy. Data collection methods may include competitor analysis, market trends, and customer preferences.

9. Identify strategic objectives and goals: The organization will define specific objectives and goals aligned with the business strategy. Data collection methods may include performance metrics, market research, and expert opinions.

These steps will guide the case study organization in formulating a robust business performance plan.

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