Data contextualization is a term used to describe putting data in a context that is meaningful for the user. When the presented data is meaningful, users can draw insight quickly for decision-making. The massive volume of data captured in business systems offers a vault of business intelligence. However, more data… [More]
Results Measurement for Digital Transformation Initiatives
Companies are investing millions in digital transformation. A successful digital transformation delivers the intended business objectives. These business objectives include new business models, better customer service, process optimization, productivity and efficiency improvement. You would want to monitor whether the business objectives are realized. You also want to understand how the… [More]
Understand the Costs of Your Services
Cost of service provisioning impacts the bottom-line. The types of service a business offers as a revenue stream or as customer support bear a cost that needs to be monitored closely. Without a sound understanding of the costs associated with these services, it is difficult for the business to assess… [More]
Strategic Measurements that Elevate Business Performance
Strategic measurements are metrics used to monitor how well a business delivers on its strategic imperatives. These strategic imperatives generally cover five areas. They are customer, financial, operations, people, and partner. In monitoring performance in these five areas, it is a question about what information the business needs to convey… [More]
How to Plan for Optimal Data Capture
Data is abundant but having them in a way that is readily consumable could be challenging. Distilling useful business insight from data often requires some work. When businesses implement applications to digitize their operations, a lot of focus is placed on processing transactions. This encompasses tasks such as order entry,… [More]
How to Capture Operations Data that You Can Leverage
Operations data offers insight on how well processes and work activities deliver the intended outcomes. Often, service companies pay less attention to monitoring the day-to-day activities. The lack of monitoring leaves managers scrambling for adhoc measurements when problems arise. These adhoc measurements likely rely on manual approaches that are onerous…. [More]
The Advantages of Data-informed Decisions
Data offers information on patterns, anomalies, and signals on behaviours and performance. Studies have shown that companies that invest in analytics and incorporate the intelligence into their decision-making process perform better than competition in their industries. With abundant data captured on customers, operations, and diverse aspects of a business, it… [More]
How to Build Operational Agility Without Chaos
With the business environment constantly evolving, it is critical for a business to be agile and adapt quickly. Agility is the ability to be flexible in responding to change. This flexibility comes with a level of autonomy so people can make decisions without delays. Operations are governed by processes and… [More]
The Linkage between Measurement and Improvement
As a judge for the 2020 International Business Awards®, I was impressed by the amazing technology solutions available. Many tackle long standing business problems. Others focus on needs that few companies have taken an interest to address. To score each entry, judges were asked to evaluate each entry based on… [More]
Framework for Performance Measurement
Performance measurement is a critical tool for guiding strategy execution, decision making, and operational improvement. Every business does track financial results on a regular basis. There is no doubt financial health is important but performance in other aspects of the business is just as crucial. In fact, operational and customer… [More]
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