Connecting data with KPIs for decision making

whatsapp lead sale category
Post Reply
nurnobi40
Posts: 1008
Joined: Thu Dec 26, 2024 5:04 am

Connecting data with KPIs for decision making

Post by nurnobi40 »

Connecting the analyzed data with KPIs (Key Performance Indicators) and important organizational metrics is essential to identify whether or not we are achieving the established objectives.

There are a few steps that can be followed to make this connection:

Identify the organization's objectives and goals
The first step is to identify these organizational objectives and go costa rica mobile phone number als so that it is possible to define the relevant metrics and KPIs (if they have not already been defined) and assess whether these objectives are being achieved.

If you created a Lean Value Tree, for example, until you reached your product as one of the prioritized bets, it will be one of the ways you can identify these objectives and success metrics.

Define metrics and KPIs
Based on the organization's and/or product's objectives, it is necessary to define the relevant metrics and KPIs to assess progress towards these objectives. For example, if one of the organization's objectives is “to be the first brand consumers remember when they are hungry”, and based on the mapped bets one of the expected results is an increase in sales, a relevant metric could be the number of sales made. Similarly, a KPI could be the sales conversion rate.

Collect data for analysis
With the objectives, metrics and KPIs defined, it is now necessary to look for relevant data that can be collected from different sources depending on the context, such as management systems, data analysis tools, market research, among others, as I mentioned previously.

Returning to the delivery app example, imagine that we are monitoring the following data:

Number of orders placed daily;
Average delivery time;
Order cancellation fee;
Average user rating of the service.
This data can be directly linked to the company’s KPIs and OKRs. For example, if the company is looking to increase its revenue after implementing some marketing initiatives, then the number of orders placed daily could be a relevant piece of data. Or, if the company has been investing in improving the user experience , then the average user rating of the service could be another important piece of data.

By connecting this analyzed data with important organizational KPIs and metrics, it is possible to measure progress towards established goals and identify areas for improvement. This connection also ensures informed, data-driven decision-making, improving the effectiveness of business strategies.

Furthermore, the results of the analysis of this data must be interpreted with great care and attention, seeking to understand whether or not we are actually achieving the organization's objectives. It is important to have a clear understanding so that the conclusions are accurate and reliable.

Presenting data to stakeholders
In an organization that has a certain level of maturity in digital transformation and has a well-structured governance, its leadership model may include some weekly, monthly and quarterly ceremonies. At these times, the results obtained so far are discussed, whether or not they are close to achieving a business KPI, what actions the areas have taken, whether there are any obstacles or critical situations to be discussed, among other topics that we can discuss in a future article dedicated to this topic.

The point here is that, in this decision-making context, leaders use this collected and analyzed data to generate discussion and reflection during these meetings.

However, even if the company does not yet have this level of maturity, even if it is a top-down company (where we feel like we are in a bakery because we have to do everything that senior management asks, because we “think” that it should be done as they believe is best), collecting data is still important ( don’t give up, lol ). Whatever the context, you can help create this culture by presenting it to stakeholders who are beginning to see value in monitoring results, especially when we talk about what results are generated exactly where they have invested their money.

Some practical tips
These data analysis results must be communicated clearly and objectively , highlighting those that are relevant to the organization's objectives and providing actionable insights that can help improve performance and take quick action.

There are several ways and tools to present this data. It is important to identify on the stakeholder empathy map how they like to absorb information. This way, you will be more assertive when defining these tools and ways of presenting it.
Post Reply