Dashboards If You Can’t Measure You Can’t Manage

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Text of Dashboards If You Can’t Measure You Can’t Manage

  • 1. DashboardsIf You Cant Measure You Cant Manage By Graham Knight Managing Director iuvare ltd iuvare limited - Business Performance Improvement

2. Agenda

  • What Is A Dashboard?
  • Where Should You Start?
  • Why Do You Need One?
  • What Do You Measure?
  • What Types Of Presentation?
  • What Should You Avoid?
  • What Does It Cost?
  • Some Examples
  • The Benefits
  • Summary

iuvare limited - Business Performance Improvement 3. What Is A Dashboard? iuvare limited - Business Performance Improvement A means of measuring where you are with any aspect of your business preferably in the blink of an eye. Also referred to as Balanced Scorecard or Key Performance Indicators (KPIs) 4. Where Should You Start?

  • With a Business Plan
  • fail to plan you plan to fail
  • Understand what you are expecting from your business
  • Determine what has to happen and by when
  • Identify the key drivers for your business

iuvare limited - Business Performance Improvement 5. Why Do You Need One?

  • As a business grows there becomes just too many plates to spin
  • Avoids surprises the bigger the business the bigger the numbers (less wiggle room)
  • Leads to more formality
  • Delegates responsibility ties into personal objective setting and appraisals
  • Enables you to compare and contrast by looking at trends for example
  • Assists in What If forecasting

iuvare limited - Business Performance Improvement 6. What Do You Measure?

  • Financials (revenues, costs, profit, creditors, debtors, gross margin)
  • Pipeline (prospects/suspects/funnel)
  • Sales (conversions, order values, type)
  • Marketing (leads, source)
  • Product/service profiles
  • Manufacturing (volume, waste, quality)
  • Fulfilment (volumes, complaints, profitability)
  • People factors (training days, utilisation..)
  • Inventory (value, slow moving stock)
  • Solvency (cash vs creditors vs debtors)

iuvare limited - Business Performance Improvement 7. What Should You Avoid?

  • Paralysis through analysis!!
  • Essentially all information should be easy to record and extract.

iuvare limited - Business Performance Improvement 8. What Types Of Presentation?

  • Line Charts
  • Histograms
  • Pie Charts
  • Tables
  • Kivigraphs
  • Traffic Lights
  • Signposts
  • Business on a page
  • and variations on the theme...
  • more benefit if it is rolling.

iuvare limited - Business Performance Improvement 9. Some Examples

  • A group of numbers can be transformed

iuvare limited - Business Performance Improvement 10. Some Examples

  • Line Charts

iuvare limited - Business Performance Improvement 11. Some Examples

  • Histograms

iuvare limited - Business Performance Improvement 12. Some Examples

  • Histograms

iuvare limited - Business Performance Improvement 13. Some Examples

  • Tables

iuvare limited - Business Performance Improvement 14. What Does It Cost?

  • Like most things in life you get out what you put in
  • Use data from your existing systems
  • Use data that is collected anyway
  • Use excel to produce graphs (ODBC from Sage)
  • There may be some measurements to put in place
  • Always consider the ROI
  • Typically takes me 2 hours for a 1m T/Obusiness once dashboard is in place

iuvare limited - Business Performance Improvement 15. The Benefits

  • Reduced surprises as the dashboard evolves
  • Introduces measurement in a visual way
  • Changes your culture from fire fighting to fire prevention
  • Gives focus to achieving the key objectives of the business
  • Introduces more accountability
  • Staff become more aware and so make moreinformed decisions
  • Makes the business function more as a team
  • If done correctly the business performance will improve
  • Helps you make more informed decisions

iuvare limited - Business Performance Improvement 16. The Summary

  • Start with a Business Plan
  • Define all the aspects of the business you intend to measure
  • Define where the data comes from
  • Ensure that the data is easy to collect
  • Ensure the measurement is regularly reviewed at a senior level
  • whatever you measure gets better!!

iuvare limited - Business Performance Improvement 17. Graham Knight Managing Director iuvare ltd Email: grahamknight@iib.ws Website: www.iuvare.co.uk Mobile: 0771 866 1890 iuvare limited - Business Performance Improvement