In 2002, Hyperion realized that though they had the best budgeting, scorecarding, and financial consolidation products in the industry, their competitors were still lumping them in the BI (Business Intelligence) category. So Hyperion simply decided they would create their own category: BPM (Business Performance Management). BPM was created to include BI but also add in applications that sat on top of BI. Gartner picked up the ball and ran with it creating their CPM (Corporate Performance Management) magic quadrant and placing Hyperion firmly in the leadership quadrant.
Cognos, Business Objects, Oracle, IBM, SAP, and the rest were left playing catch up as they stuck with BI a little too long giving Hyperion a 2-year head start. When Oracle acquired Hyperion, they renamed CPM to EPM (Enterprise Performance Management) but the entire xPM acronym can be traced back to the excellent work of Hyperion’s product marketing group.