It is not about spending several thousands, if not tens of thousands on some self-serve BI tool that will give everyone the ability to be their own data scientist. Never mind the human capital costs of people trying to find data and make up their own insights. Self-serve BI is just plain expensive and do you really get a valuable return on it? I would dare to say NOT!
If you truly want to make your department or even your whole business run better, you need to focus on the performance of the business. That means monitoring strategic metrics that tell you the health of the business. Typically, this is called a KPI or Key Performance Indicator that relates to a metric in the business that is very important. You then find these KPIs on Scorecards which basically groups them into subjects for departments and divisions, etc. Then once you have this, it allows you to roll up the metrics and see the overall health of the business using classic indicators like Green, Yellow and Red.
Between 2005 and 2009, this was a really HOT topic. How do we get our business into scorecards that let’s everyone in the organization to focus on the same strategic objects? I actually started my business, Extended Results, on being a management consultancy focused on Performance Management and Scorecards. My first 3 years of business was nothing but scorecards and the data management behind those metrics. I jumped in early and enjoyed the wave. After 2009, things changed and the theme of “self-serve” and people ignored scorecards and down when the productivity of business around the world. Yes, look up the productivity number, the federal reserve posts it and you’ll see businesses are less productive today than they were 10 years ago. How is that even possible with all this great technology?! Why didn’t scorecards work? Because dashboards are the WRONG delivery platform, plain and simple.
I believe we have to go back to KPIs and Scorecards which gets the entire department and dare I say, company, back on the same page of what the strategic objectives are of the company. But, they need to be delivered on the correct platforms that make it super easy to take a quick glance and know the business is on or off track. Mobile is the platform to effectively deliver these important business metrics because mobile is everywhere you are and so can your business. That’s why in my next app, I’m providing an important scorecard view right within the experience to take your business on to the go where ever you might be.
Enjoy the day, Patrick
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