Optimization of Processes of Managerial Decision-Making Using Real-Time Reporting

Abstract

The aim of the article is to investigate the impact of real-time reporting on effectiveness of managerial decision-making. There considered additional opportunities which the management of organizations will receive from the access to management information in real time, in particular continuous access and data analysis; increased accuracy and reliability; availability of a centralized data repository; ability to perform multi-dimensional reports; possibility of cooperation and information exchange, etc. Market drivers that necessitate the use of real-time reporting are identified. A comparative analysis of the activities of organizations that have access to data in real time and those deprived of this possibility is performed. As part of the use of real-time reporting, certain measures are proposed to stimulate better management for specific groups of enterprises: outsiders, insiders, Best-in-Class. The main technological means to realize the reporting in real time are considered.

Keywords

• management
• control
• decision-making
• efficiency
• optimization
• real time
• real-time reporting
• information
• stakeholders