I was recently interviewed for a podcast on transforming executive leadership through well-defined KPIs. I address some of the challenges in developing powerful key performance indicators for the executive suite - along with a handful of warnings on typical challenges to building KPIs successfully.
The challenge of designing a CEO dashboard is the challenge of getting to simple.
This 30 minute webinar is targeted at CEOs, executives, managers – and the knowledge workers who are charged with designing and developing dashboards for their organization's chief executive.
If you've haven't worked with Strategyzer's ground-breaking business model canvas you're missing out on one of the most powerful tools for innovation available. Its utility ranges from blank-slate innovation to the introduction of new strategic initiatives within existing organizations.
Its power lies in its ability to create and communicate the fundamentals of an organization's business vision.
To KPI Everything Is to KPI Nothing
As the familiar axiom goes, to measure everything is to measure nothing.
Mark Twain once said he it would take him 30 minutes to prepare a one hour talk, a day to speak for twenty minutes, and a week to prepare a five minute talk.
Getting to simple is one of the great challenges to working with information and to guiding actionable inquiry. The simpler you want to get, the more work it is to reduce. Someone once described this challenge as the journey to "simplexity," an appealing term for the challenge of simplifying a complex context.
So how do you get to simple? What questions should be satisfied during the design phase? What framework can we evaluate a potential KPI with?
Here are six problem areas to address before designing an executive dashboard or selecting KPIs. (And they are pretty helpful for every other kind of dashboard, too.)
Twenty Years of Watching Dashboards Fail
It may help to start with what a CEO dashboard - or any other dashboard for that matter - is not. Twenty years of working on dashboard initiatives has revealed a pattern of early warning signs that can be addressed - but first need to be recognized.
Have your dashboard initiatives had any of the following 9 characteristics?
Top Level KPIs Create Strategic Stability
When a small set of key organizational metrics are established and shared within an organization, there is a stabilizing effect on a CEO's intent and strategic plan.
In the daily bombardment of unsolicited email, pop-up video with every swipe, and newsfeeds crowded with calls-to-action, it is increasingly difficult to draw attention to one's company and value proposition.
This week we rolled out an interactive presentation called "Driving Data ROI from the Executive Suite." It is the first of a larger set of releases that share the vision and value of The Bartlett System.
Here's the non-interactive video presentation...
We sat down recently with Param Ghangas, the Director of Analytics at HBO, to talk through our 7 Questions.
Param has been working in analytics and marketing for over a decade, designing KPIs, building web analytics solutions, managing teams, and communicating actionable insights to a wide variety of stakeholders.
Her experience spans the business and technical sides of creating ROI in complex enterprise environments. With a keen eye for maximizing the decision-making impact of a data strategy, she had a great deal to share on how companies can work effectively to leverage information assets.
Her answers have been lightly edited for clarity and length.
An actionable insight: Stacey Barr, an Australian-based expert on defining and implementing key performance indicators, wrote a recent column about the pitfalls of brainstorming KPIs. With her reliably cogent, analytical and thoughtful perspective, she makes a case against open-ended KPI definition sessions (vague goals, persuasion contests, and shallow levels of detail).
As a CEO, it is more than likely you are under increasing pressure to demonstrate a tangible return on your analytics strategy. But for many CEOs, the ROI on data has been elusive.
Data scientists are hired, resources invested in analytics software, and data warehouses built and rebuilt again. And even though your leadership team can't quantify the bottom-line on the last set of investments - they urgently need budget for a new round.
Budget for Tableau. For AWS. For a data lake. For machine learning training.
It's frustrating and uncertain. But here's the thing:
Some of these challenges actually start at the top, and as CEO you have the power to fix them.
Here's a quick look at 7 troubling indicators that may indicate you're part of the problem.