The Real-Time Enterprise
I'm watching the televised House Committee on Oversight and Government Reform on CSPAN, with testimony from Charles Prince, former CEO of Citigroup Inc.; Stanley O'Neal, former CEO of Merrill Lynch & Co.; and Angelo Mozilo., chief executive of Countrywide Financial Corp.
Mozilo has just stated that reports on the high rate of borrowers missing their first mortgage payments in early 2006 didn't reach his desk until 1st quarter 2007. My CEO's have always received reports on business performance on a weekly basis. Furthermore, the top industry for real-time BI reporting solutions is Financial Services (this from my tech marketing research and experience over the last 3 years). I don't believe that it took a full year for Mozilo to get this news. If it's true:
Mozilo has just stated that reports on the high rate of borrowers missing their first mortgage payments in early 2006 didn't reach his desk until 1st quarter 2007. My CEO's have always received reports on business performance on a weekly basis. Furthermore, the top industry for real-time BI reporting solutions is Financial Services (this from my tech marketing research and experience over the last 3 years). I don't believe that it took a full year for Mozilo to get this news. If it's true:
- Quick! Oracle, SAP, JasperSoft or Cognos need to call up Countrywide and sell some products
- Mozilo's staff held back the bad news to save their own behinds