Have you ever stopped to think how much time you spend over the day trying to gather the information you need to make a decision? It would likely scare you if you began tracking it and thought about how ineffective this time is.
We hear this so many times, “I know I need analytics and better reporting but I don’t know where to start”. People feel overwhelmed with the task of either implementing analytics or improving what they have. This being the beginning of a New Year, let’s tackle this question of “where to start”.
Although data preparation is becoming valuable to organizations, there is too much time, complexity and cost going into the front end when the analyzation component is where your time should really be spent.
Yes, even Mr. Santa Claus himself uses data to determine who is on the naughty and nice lists. With all the kids in the world he needs some sort of monitoring and decision making tool. So throughout the year Santa sends his elves on a mission; to check in on the behaviours of all the children and report back to Santa.
As an avid auto enthusiast, I’m always amazed to see the innovations that the auto industry is bringing to the highways these days. However, have you ever taken a step back for a moment to see what kinds of new things are coming to the market? Auto makers have pretty much nailed how to make a car accelerate, corner and brake with confidence and their styling is leaps and bounds above what it used to be. So, what do they seem to be focusing on more so these days?
In order to create custom Key Performance Indicators (KPI) and their supporting indicators you have to plan on where you want to take your organization. You need to look at where you have been, what your strategic objectives are and how you measure success of those objectives. AND you have to have a clear understanding of the milestones that you must achieve on the way to those successes.
We hear it far too often. Your ERP system is not providing you with the quality reports you need so you’re shopping around to replace it or repair it. Guess what? You don’t need to do either!
Your system should support your business plan and it should support your other software systems. Perhaps your ERP system was never a good fit from the start or maybe it’s just not consolidating your data sources to help you make insightful decisions.