Put an End to Debates About Data

A client invited me to attend their monthly results review meeting last week. He was looking to improve their KPIs and use of their meeting time.

Throughout the meeting, many questions were raised about the data used for reporting. As a result, a lot of time was consumed by debates about data. It was unproductive

These questions relate to data sources, mismatch on the timing of reporting, and what data were included or excluded.

To put an end to debates about data, you need to do three things.

First, get everyone to agree on which systems would provide the most reliable data for what you report on. This agreement avoids folks producing their own reports in an attempt to reconcile results or challenge what is on the dashboard.

Second, understand the timing of the billing cycle. For consistency, match expenses with the revenue earned for the period. Do accruals to accommodate timing issues related to vendor billing cycle, for instance. The timing gap tends to stir up contentious debates when results are undesirable.

Third, revisit the KPIs on the dashboard and ensure that the data used in the calculation are clearly specified. A KPI document would help to alleviate repeat questions on what the KPI measures.

These three approaches help to eliminate time wasted in meetings on unproductive conversations. When everyone is clear on where the data are extracted from and how the KPIs are calculated, meeting time will be focused on developing appropriate actions to further your business goals.

If you find this useful, you might like How to Ensure Your Data Will Become Business Assets.