Integrated Analytical Hierarchy Process and Objective Matrix in Balanced Scorecard Dashboard Model for Performance Measurement

Abstract

Measuring organizational performance is pivotal for a comprehensive understanding of strengths, weaknesses and to improve the quality of any organization’s performance. Balanced Scorecard (BSC) is the strategic evolution tool that is widely used to measure the organizational performances, and achievements from various aspects, both financial and non-financial. In this research, BSC was not only a straight jacket concept but also a high potential tool for measuring and managing tangible and accurate data through the application of several methods. This research weighted the variables of BSC based on significance values of Analytical Hierarchy Process (AHP) and Optimization of Measurement with Objective Matrix (OMAX). Moreover, a recommendation analysis was given based on the cause and effect analysis of variables and the achievement of Key Performance Indicators (KPIs). The flow of information, data, and performance measurement processes were designed into Business Intelligence (BI) software development i.e. BI-MonevDash. The framework and software BI-MonevDash proposed can be used as a new chosen tool for measuring and monitoring organizational performance. Recommendations could facilitate the leaders in decision making to improve the organizational performance and reduce risks.