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5 Ways to Optimize Your CEO Dashboard

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CEO dashboards often fail to provide all of the necessary data you need to make confident, data-based decisions. Here are 5 ways by which you can optimize your CEO dashboards to create a successful managerial decision-making environment.

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5 Ways to Optimize Your CEO Dashboard

  1. 1. 5 Ways to Optimize Your CEO Dashboard Tor Inge Vasshus, Founder and CEO of Corporater
  2. 2. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 2 Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 2 Florence Chadwick 1918 – 1995
  3. 3. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 3 In 1952, Florence attempted to swim the 26 miles/ 42 kilometer between Catalina Island and the California coastline. After 15 hours and 55 minutes, with only a half mile to go, Chadwick felt that she couldn't go on any further and asked to be taken out of the water due to heavy fog. 3 When asked why she failed, she answered «I couldn’t see the goal»
  4. 4. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 4 Two months later, she tried again and completed the 21-mile Catalina channel Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 4 This time too, a thick fog surrounded her as she swam, but when the reporter asked why she succeeded this time and not the last, she answered, «I kept visualizing a mental image of my goal»
  5. 5. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 5 What is the goal of BI&A? Some suggestions Tool for data consolidation DATA Gain insight from data INSIGHT+ Make better business decisions BUSINESS CONTEXT+ And plan and execute on the decisions made PLANNING+ EXECUTION+ Generate business outcomes = IMPACT Managerial Decision Making EnvironmentWe need to add a
  6. 6. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 6 Core Requirement Nature of Decision Strategic Planning Long term, unstructured Management Control Shorter term, semi-structured Operational Control Short term, structured Process Control Incident based, structured Managerial Decision Making Environment Levels of Management | Taxonomy of management decision-making Executive Operational Transactional Top/Mid-Level Managerial Decision Making Environment
  7. 7. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 7 Executive dashboards Recommendati ons with high level background Strategic plan Strategic planning/ goals Management meetings Core Requirement Strategic Planning Management Control Operational Control Process Control Managerial Decision Making Environment Levels of Management | Different reporting needs for different levels of management DATA INSIGHT BUSINESS CONTEXT PLANNING EXECUTION Transactional real time data Alarms/ Decision/ Rule Engine ID/ Location/ TAG/ VR Operate PLS/ Automation Operational process data/ Big Data Pattern/ AI/ CEP Drawings and maps Operational Plans IBPM Higher level business data Qualitative assessments and quantitative trends Business frameworks Functional goal based plans Workflow Executive Operational Transactional Top/Mid-Level
  8. 8. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 8 CxO Dashboards Business Dashboards Operational Dashboards Real Time Control Systems Managerial Decision Making Environment Levels of Management | Different dashboard needs for different levels of management Executive Operational Transactional Top/Mid-Level
  9. 9. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 9 Managerial Decision Making Environment Developing managerial decision making is the key to optimizing your CEO dashboard Executive Top/Mid-Level
  10. 10. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 10 5 Ways to Optimize Your CEO Dashboard To create managerial decision making environment that leads to business impact IMPACT 1. CONTEXT AND BACKGROUND 2. INSIGHT AND ASSESSMENT 3. PLANNING AND PRIORITIZATION 4. EXECUTION AND CONTROL 5. REMOVE FRICTIONS
  11. 11. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 11 Analytical Dashboards - Main Components 1. CONTEXT AND BACKGROUND Illustration example: Traditional dashboards • Report based • Filter/ query based • Quantitative in its nature • Not suited for top level management Quantitative Report Name Filters FOR ILLUSTRATION PURPOSES ONLY
  12. 12. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 12 CXO’s are not happy There is a big information gap One of the more striking findings in this year’s survey is the fact that the ‘information gap’ – the gap between the data CEOs need and what they get has not closed in the ten years since we last asked them these questions. PwC 22nd Annual Global CEO Survey
  13. 13. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 13 Your CEO Dashboard should: • Tell the business story • Put the story into a strategic context • Show strategic alignment • Populate it with timely adequate needed information to take decisions • Show how it all relates to the higher level plan that the CXO wants to execute 5 Ways to Optimize Your CEO Dashboard FOR ILLUSTRATION PURPOSES ONLY 1. CONTEXT AND BACKGROUND
  14. 14. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 14 Your CEO Dashboard should: • Tell the business story • Put the story into a strategic context • Show strategic alignment • Populate it with timely adequate needed information to take decisions • Show how it all relates to the higher level plan that the CXO wants to execute 5 Ways to Optimize Your CEO Dashboard FOR ILLUSTRATION PURPOSES ONLY 1. CONTEXT AND BACKGROUND
  15. 15. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 15 Navigate in a business model framework FOR ILLUSTRATION PURPOSES ONLY Your CEO Dashboard should: • Provide navigation in a business model framework 5 Ways to Optimize Your CEO Dashboard 1. CONTEXT AND BACKGROUND
  16. 16. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 16 Narrative Loaded with business meta data FOR ILLUSTRATION PURPOSES ONLY Your CEO Dashboard should: • Narrate the full progress of your key performance indicators • Be loaded with business meta data 5 Ways to Optimize Your CEO Dashboard 1. CONTEXT AND BACKGROUND
  17. 17. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 17 Loaded with business meta data Documents & reports Calibration through benchmarkingKPI is like a diamond – it has many facets FOR ILLUSTRATION PURPOSES ONLY Your CEO Dashboard should: • Calibrate through benchmarking • Provide pixel-perfect reports and documentation 5 Ways to Optimize Your CEO Dashboard 1. CONTEXT AND BACKGROUND
  18. 18. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 18 5 Ways to Optimize Your CEO Dashboard 2. INSIGHT AND ASSESSMENT FOR ILLUSTRATION PURPOSES ONLY Your CEO Dashboard should: • Navigate in a story dashboard • Give your executives the full picture of the organization • Show summaries with drilldown • Go from a strategic summary dashboard to an operational insights application
  19. 19. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 19 Your CEO Dashboard should: • Give high-level insights from data • Show assessments done from peers High Level Insight from data Assessment from peers Alignment 5 Ways to Optimize Your CEO Dashboard FOR ILLUSTRATION PURPOSES ONLY 2. INSIGHT AND ASSESSMENT
  20. 20. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 20 FOR ILLUSTRATION PURPOSES ONLY 5 Ways to Optimize Your CEO Dashboard Easy navigation (visual navigation) KPI breakdown Navigate from strategic overview to operational focus to the Value Driver Tree Your CEO Dashboard should: • Give the KPI (Key Performance Indicator) breakdown • Navigate from strategic overview to operational focus to the value driver tree • Provide a visually appealing value driver tree 2. INSIGHT AND ASSESSMENT
  21. 21. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 21 Your CEO Dashboard should: • Provide KPI drill-down capabilities FOR ILLUSTRATION PURPOSES ONLY 5 Ways to Optimize Your CEO Dashboard Drill into Non-Productive time from Value Driver Tree. See all sides of a KPI including data, assessments, sources, descriptions and click on Analysis to dive into the data. 2. INSIGHT AND ASSESSMENT
  22. 22. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 22 FOR ILLUSTRATION PURPOSES ONLY 5 Ways to Optimize Your CEO Dashboard Use the data and insights as a foundational piece to create actions and to make decisions. Your CEO Dashboard should: • Put BI&A into a context • Help you to create actions from data and insights • Guide to make better business decisions through data • Complete the managerial decision making environment 2. INSIGHT AND ASSESSMENT
  23. 23. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 23 5 Ways to Optimize Your CEO Dashboard 3. PLANNING AND PRIORITIZATION Strategic direction Gained insight Plan and prioritize - • Time • Resources (people and money) • Risk • Effect/benefit/ business case Executive Operational Transactional Top/Mid-Level Directions and focus most often comes from the executive side, but many times insights can also alter directions. Make sure actions and decisions are planned and prioritized properly.
  24. 24. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 24 5 Ways to Optimize Your CEO Dashboard Executive Mid-Level FOR ILLUSTRATION PURPOSES ONLY What Why Who How When Plans should answer certain questions. 3. PLANNING AND PRIORITIZATION
  25. 25. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 25 5 Ways to Optimize Your CEO Dashboard 4. EXECUTION AND CONTROL Full of action oriented commands: FOR ILLUSTRATION PURPOSES ONLY • Check • Start • Send • Invite • Delegate • Add • Upload • Download • Comment • Update • Delete
  26. 26. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 26 5 Ways to Optimize Your CEO Dashboard FOR ILLUSTRATION PURPOSES ONLY • Achieving goals is all about individuals and teams. Make sure they have the tools they need to execute on insights and tasks • Use workflows and notifications to increase the speed of execution and to control the quality and movement 4. EXECUTION AND CONTROL
  27. 27. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 27 5 Ways to Optimize Your CEO Dashboard FOR ILLUSTRATION PURPOSES ONLY Examples of dashboard to capture feedback 4. EXECUTION AND CONTROL
  28. 28. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 28 5 Ways to Optimize Your CEO Dashboard • CXO Dasboards also need process/ workflow support From: You have to seek information Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 28 To: Information finds you 4. EXECUTION AND CONTROL
  29. 29. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 29 5 Ways to Optimize Your CEO Dashboard 5. REMOVE FRICTIONS • Quality of Operations: Managers get irritated over doing the same thing twice – make it easy for them! From: Consume information To: Work in the CXO dashboard Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 29
  30. 30. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 30 5 Ways to Optimize Your CEO Dashboard • Managers get irritated over doing the same thing twice – make it easy for them! Text aggregation/ re-use of information Aggregate and select assessments from your team and use them in the reports 5. REMOVE FRICTIONS
  31. 31. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 31 5 Ways to Optimize Your CEO Dashboard • Once reported – finished! No more double reporting – no more cut-copy-paste Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 31 5. REMOVE FRICTIONS
  32. 32. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 32 To summarize
  33. 33. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 33 We need to add a Managerial Decision Making, Planning, and Execution Environment to our dashboards. Tool for data consolidation DATA Gain insight from data INSIGHT+ Make better business decisions BUSINESS CONTEXT+ And plan and execute on the decisions made PLANNING+ EXECUTION+ Generate business outcomes = IMPACT We need to add a Managerial Decision Making, Planning,
  34. 34. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 34 Core Requirement Strategic Planning Management Control Operational Control Process Control Executive dashboards Recommendati ons with high level background Strategic plan Strategic planning/ goals Management meetings Managerial Decision Making Environment Levels of Management | Different reporting needs for different levels of management DATA INSIGHT BUSINESS CONTEXT PLANNING EXECUTION Transactional real time data Alarms/ Decision/ Rule Engine ID/ Location/ TAG/ VR Operate PLS/ Automation Operational process data/ Big Data Pattern/ AI/ CEP Drawings and maps Operational Plans IBPM Higher level business data Qualitative assessments and quantitative trends Business frameworks Functional goal based plans Workflow Executive Operational Transactional Top/Mid-Level
  35. 35. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 35 Executive dashboards Recommendati ons with high level background Strategic plan Strategic planning/ goals Management meetings Core Requirement Strategic Planning Management Control Operational Control Process Control Managerial Decision Making Environment Levels of Management | Different reporting needs for different levels of management DATA INSIGHT BUSINESS CONTEXT PLANNING EXECUTION Transactional real time data Alarms/ Decision/ Rule Engine ID/ Location/ TAG/ VR Operate PLS/ Automation Operational process data/ Big Data Pattern/ AI/ CEP Drawings and maps Operational Plans IBPM Higher level business data Qualitative assessments and quantitative trends Business frameworks Functional goal based plans Workflow Executive Operational Transactional Top/Mid-Level AUTOMATION EFFICIENCY AND EFFECTIVENESS BUSINESS OUTCOMES WINNING
  36. 36. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 36 5 Ways to Optimize Your CEO Dashboard To create managerial decision making environment that leads to business impact 1. CONTEXT AND BACKGROUND 2. INSIGHT AND ASSESSMENT 3. PLANNING AND PRIORITIZATION 4. EXECUTION AND CONTROL 5. REMOVE FRICTIONS IMPACT
  37. 37. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 37 Business Management Platform 5 Ways to Optimize Your CEO Dashboard To do this you need a solid architecture that can supports this Data platform Analytics platform Process platform 1. CONTEXT AND BACKGROUND 2. INSIGHT AND ASSESSMENT 3. PLANNING AND PRIORITIZATION 4. EXECUTION AND CONTROL 5. REMOVE FRICTIONS IMPACT
  38. 38. Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 38 Confidential and/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. DOWNLOAD BROCHURE Our Platform Complete overview of your business The Corporater Business Management Platform (BMP) is one such platform which provides you a solid architecture to create a managerial decision making environment that leads to business impact. Interested in Corporater BMP’s ‘One view. One platform’ approach? Find out more…
  39. 39. Thank You Tor Inge Vasshus marketing@corporater.com www.corporater.com

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