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

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  • 1. Dashboards If You Can’t Measure You Can’t 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/O business 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 more informed 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