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KPIs and Dashboards

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KPIs and Dashboards

  1. 1. KPIs and Dashboards GETTING STARTED WITH DATA DRIVEN DECISION MAKING DECK PREPARED BY GEORGE SLOANE
  2. 2. What are KPIs? KPIs or Key Performance Indicators are measures that help organizations confirm that they are on track to meeting goals and objectives KPIs can cut across the organization (senior management, functional departments, and operating divisions), but all eventually converge on overall organizational goals and objectives KPIs should lead to data driven decision making in the form of new or future goals and objectives, adjustments or changes in best practices, and measuring various initiatives, programs, and projects Some KPIs are product/industry specific KPIS AND DASHBOARDS/GEORGE SLOANE 2
  3. 3. What are Dashboards? Dashboards are organized and concise visual representations of various KPIs Dashboards will vary based upon the different end users they are designed for KPIS AND DASHBOARDS/GEORGE SLOANE 3
  4. 4. Why KPIs and Dashboards? Data Driven Decision Making KPIS AND DASHBOARDS/GEORGE SLOANE 4
  5. 5. What is Data Driven Decision Making? Making business decisions based upon actual, factual data analysis and insights as opposed to pure “gut instinct” ◦ This approach looks at ◦ Measurable results ◦ Identifiable trends ◦ Activity inputs and actual outputs ◦ This isn’t to say there is no room for ◦ Management insights ◦ Human intelligence gathering ◦ Customer insights ◦ Ideally, one approach should be used to question or verify the other approach KPIS AND DASHBOARDS/GEORGE SLOANE 5
  6. 6. Common Challenges and Obstacles When Working With KPIs and Dashboards Identifying measurable, appropriate, and actionable KPIs Sourcing data (Both internally and externally) Evaluating the data’s value and timeliness Securing and achieving “buy in” Agreeing upon uniform data definitions and metrics Establishing baselines and targets Avoiding too much or too little info KPIS AND DASHBOARDS/GEORGE SLOANE 6
  7. 7. KPI and Dashboard Timeframes The time periods used depend upon the shelf life of the data and end user requirements: ◦ Annual ◦ 3 year views are common ◦ Quarterly ◦ 4-12 quarters are typical ◦ Monthly ◦ 12-15 months is common ◦ 30/60/90 days views used as well ◦ Weekly ◦ Daily ◦ Real-time KPIS AND DASHBOARDS/GEORGE SLOANE 7
  8. 8. KPI and Dashboards Elements Measures might be a: ◦ Ratio ◦ Percentage ◦ Dollar amount ◦ Counted Unit: ◦ Activities ◦ Product ◦ People ◦ Time ◦ Transactions ◦ Leads ◦ And more . . . KPIS AND DASHBOARDS/GEORGE SLOANE 8
  9. 9. Dashboards: Broad Roll-Ups vs Deep Dives Broad “roll-up” dashboards are typically high level, across the organization views used by senior management ◦ Many of the KPIs on these dashboards roll up from the specific functions discussed below Deep dive dashboards tend to be more specific and “drill down” or “slice and dice” the data. These dashboards are used by: ◦ Sales and Marketing ◦ Finance or Human Resources ◦ Customer Service and Account Management ◦ IT and Call centers ◦ Operations, Manufacturing, and Product/Service Delivery KPIS AND DASHBOARDS/GEORGE SLOANE 9
  10. 10. Now Let’s Look at Common Examples . . . By no means are these all inclusive lists . . . KPIS AND DASHBOARDS/GEORGE SLOANE 10
  11. 11. Some Common KPI Measures: Senior Management Goal achievement gauges Sales Pipeline Financial results ◦ Revenues ◦ Operating margins ◦ Net profit ◦ ROE ◦ Cashflow Project completion gauges Customer stats and concentrations Productivity ◦ Revenue per employee ◦ Capacity Utilization ◦ Backlogs Service levels ◦ On-time delivery ◦ Downtimes Customer satisfaction ◦ Indices ◦ NPS Employees ◦ Engagement ◦ Headcount KPIS AND DASHBOARDS/GEORGE SLOANE 11
  12. 12. Some Common KPI Measures: Sales and Marketing New sales Win/Loss ratios New prospects and lead management Number of client contacts Customer attrition/turnover Pipeline makeup Sales process timeline Quota over/under achievement Customer Journey mapping Pricing and demand analysis Campaign/program results Lead generation rates and costs Marketing mix optimization and attribution Web and social media measures Product development Net Promoter Score (NPS) Customer Lifetime Value (CLV) Marketing ROI KPIS AND DASHBOARDS/GEORGE SLOANE 12
  13. 13. Some Common KPI Measures: Customer Service and Account Management Problem resolution Client contact rates Customer satisfaction levels Turnaround times Average account team size Customer segmentation Customer Lifetime Value (CLV) Retention/Attrition/Turnover rates Average customer tenure Average customer size Average customer spend Cross-selling percentages/rates KPIS AND DASHBOARDS/GEORGE SLOANE 13
  14. 14. Some Common KPI Measures: Finance Full financial ratio analysis Revenues Receivables and Collections Accounts payable Expense management Profit and expense margins Cash flow management Turnover rates Working capital Capital structure Cost of capital Industry specific measures KPIS AND DASHBOARDS/GEORGE SLOANE 14
  15. 15. Some Common KPI Measures: Human Resources Headcounts Average tenure Average compensation Revenue to employee Industry compensation comparisons Benefits management Training and development time/money Attrition/Turnover rates (Vol/Involuntary) Satisfaction metrics Engagement metrics Recruitment results Interview to hire ratio Cost per hire/fire Professional licensing KPIS AND DASHBOARDS/GEORGE SLOANE 15
  16. 16. Some Common KPI Measures: Operations (Products or Services) Delivery times Production cycle times Quality metrics Safety metrics Productivity measures Downtimes/Changeovers Cost reduction rates Reject/Rebuild rates Raw materials/Inventory Purchasing/Supplier analysis Environmental metrics Regulatory compliance reporting KPIS AND DASHBOARDS/GEORGE SLOANE 16
  17. 17. Some Common KPI Measures: IT Department Service tickets Problem/Issue types Resolution rates/times Escalation rates Project management Upgrades Maintenance/Service downtimes Customer satisfaction KPIS AND DASHBOARDS/GEORGE SLOANE 17
  18. 18. Some Common KPI Measures: Call Centers (In/Outbound) Call volumes Calls per rep Rep turnover Average call duration Pickup/Wait times Call abandonment rates Number/percentage of calls blocked Resolution rates Customer satisfaction rates Number of complaints Other service level measures KPIS AND DASHBOARDS/GEORGE SLOANE 18
  19. 19. Benchmarking and Comparative Company Analysis While KPIs typically track or compare the organization’s results to it’s prior period results, they can sometimes be compared to other organizations or industry data and results ◦ General Industry Guides: ◦ Troy’s Almanac ◦ Robert Morris Associates (RMA) ◦ D&B reports ◦ S&P Industry Reports ◦ Specialized Industry Surveys and Trade Association Annual Reviews ◦ SEC EDGAR database (for publicly traded companies) ◦ Company released information (Website, press releases, white papers, etc.) KPIS AND DASHBOARDS/GEORGE SLOANE 19
  20. 20. Forecasting and Projections While KPIs and Dashboards tend to look backwards on a rolling basis, sometimes forward looking forecasts and projections can be incorporated as well ◦ Trend analysis ◦ Statistical methods Forecast methods should be back tested for predictive accuracy Projections should consider possible outcomes on a best, worst, and probable case scenarios KPIS AND DASHBOARDS/GEORGE SLOANE 20
  21. 21. Some Useful Data Visualization Tools For Building KPI Dashboards MS Excel and Powerpoint Tableau Domo Zoho And many more . . . KPIS AND DASHBOARDS/GEORGE SLOANE 21
  22. 22. Developing KPIs and Dashboards: A Simple Process Overview Spec out and initiate the project (Including timetables and responsibilities) Start with goals and objectives Document specific end user requirements Identify and define unique and common metrics Source the data (Timing, availability, format, etc.) Build and test prototypes on selected end users Design and validate the actual solution Launch and seek feedback Determine ongoing ownership and governance Continue to make ongoing improvements KPIS AND DASHBOARDS/GEORGE SLOANE 22
  23. 23. Our KPIs and Dashboards Aren’t Done? Well, yes and no– it is a continuous improvement approach . . . KPIS AND DASHBOARDS/GEORGE SLOANE 23
  24. 24. Related Topic Decks You Might be Interested in: Decks: ◦ How to Perform More Effective Competitive Intelligence ◦ Data to Results ◦ Data Visualization ◦ Sales Analytics ◦ Win/Loss Analysis ◦ Thoughts on Quantifying Qualitative Data Infographics: ◦ 360 Degree Company Analysis ◦ Pricing Model Framework ◦ Developing or Streamlining a System or Process These and other decks can be found at my Slideshare.net account accessible at this link: ◦ Slideshare or http://www.slideshare.net/GeorgeSloane KPIS AND DASHBOARDS/GEORGE SLOANE 24
  25. 25. Thank You! This Slide Concludes This Review For More Information, Please Contact George Sloane at: ◦ AnalyticDesignGuy.com website ◦ LinkedIn ◦ Twitter ◦ Facebook ◦ Google+ ◦ Slideshare ◦ Goodreads • Gmail: gsloane.business@gmail.com • Phone: (203) 981-4488 KPIS AND DASHBOARDS/GEORGE SLOANE 25

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