Most of you know people who are pilots and I’m sure we all fly enough. You want the commercial pilot of the plane you’re flying to have access to all the information he needs, PRIORITIZED in some way so he can focus on the right things on time. We think it’s okay for them to have access to a lot of information, when the big picture says they need it.
So why do so many accept less-than-optimal dashboards, key metrics, quick reports, or executive summaries from the board of directors?
Big data sounds great unless you’re drowning in it. Most feel they have all the strategy they want, but not enough execution. I know what I do. Who else is thinking there aren’t enough hours in the day?
Consider how Measure and Manage with the right dashboard can help you prioritize and focus on the right things to make your day more efficient.
The old business adage You can’t manage what you can’t measure points to the important concept of using quantifiable measures to help understand organizational performance. The measures you choose to focus on should reflect your critical success factors and priorities. A fiscal vision that ties key financial measures to your strategic plan will inject a much-needed dose of reality into the design and execution of a long-term master plan to enable your organization to survive and prosper.
All of the above assumes that your organization can improve its dashboard.
Some have excellent prioritized and accurate dashboards built by their people tailored to their people. At most, they could use this as a quick refresher on that additional tweak or upgrade for even more competitive advantage, agility, or speed.
For the rest of us, consider where you could improve your process:
To what extent does the chosen set of measures provide your organization with a prioritized dashboard to measure the factors and programs critical to your success?
Where does that board measure everything known to mankind and are you drowning in too many A+ major issues? For your organization, surely some of the top options can move to a second level of priorities.
How well does it allow the company to see where it has been, where it is now, and where it is likely to be in the future?
Where are the pretty colors, flashing lights, and the ability to print professional-looking charts only as good as measuring the right things, measuring accurately, and presenting the information on time?
The weakest link in any part of these questions becomes the lowest common denominator, diminishing the value of the entire dashboard, flash report, executive summary, or whatever version of this crucial tool you use.
Why not address your weakest link in the process to drastically improve overall value? You deserve more and you can take advantage of it, with a little extra strategic work.