In the few posts prior to this, I’ve said words like “easy” “simple” “efficient.” And the necessary and tedious tasks of your business can be all of those things with the right business intelligence solution. But what makes it so simple and so easy? Aside from the technological jargon I would have to use to answer that question, I also have failed to mention Key Performance Indicators.
KPIs are a measurable value about your business that informs you of the progress of your company. Track successes or failures and use them to have measurable goals. Every department of your organization can have KPIs. Data can be overwhelming for anyone in any department. Trying to understand pages of data or making sense of spreadsheets filled with numbers becomes noisy and easy to want to ignore. But instead of throwing all of your questions and nonsensical information at your IT guys to get answers, looking at KPIs gives you an instant snapshot of your company and the ability to answer your questions yourself. Figure out what changes need to be made immediately with KPI pictures and charts that are simple.
Everyone in your organization has access to data that they can understand once the desired metrics are decided. CEOs, COOs, and the like can easily take action on the simple picture of data they are given. Useful KPIs promote efficiency. They are predictive, helping management to identify any problems early. A quick idea about your company’s progress can be given on a daily, weekly, monthly or yearly basis. This means change can be made quickly-avoiding disaster.
When your entire organization is focused and successfully measuring their data, conversation about changes and taking new steps are not daunting. “Easy” “simple” and “efficient” will no longer be adjectives you strive to use to describe your business, they will be intricate elements of your organization’s foundations.