Balanced scorecard simulator - A tool for stochastic business figures

Abstract

Long term business success is highly dependent on how fast the business reacts on the changes in the market situation. Those who want to be successful need relevant, in-time and accurate information. Balanced Scorecard Simulator is a management tool that can be used efficiently in the processes of planning, decision and controlling. Based on the Balanced Scorecard concept the program combines imprecise data of business figures with forward and backward computation. It is also possible to find out whether or not the data are consistent with the BSC model. The visualization of the simulation results is done by a Kiviat diagram. The aim of the design is a software tool based on a BSC model and MCMC methods but is easy to handle.