The Value of Business Analytics: Identifying the Path to Profitability

DELIVERING THE MEASUREMENT FRAMEWORK

Once the framework has been defined and planned, all that remains is to execute. Given the right supporting tools and philosophies, putting plans into action is relatively straightforward. All that is required is:

• For measurement processes to run without direct interaction
• A platform to support presentation, investigation, and understanding

Manual interactions, when inappropriately used, create significant inefficiencies. If every measure needs to be manually collated, interpreted, and formatted for presentation, the team’s ability to scale is severely constrained. Ensuring measurement processes can be and are automated is a critical step in effective execution.

Equally important is the ability to create insight. To act, managers need to have access to good information; although capturing information is essential, so is having the ability to review those measures and make decisions. Doing so requires a platform designed to support effective performance management.

In an ideal world, the measurement framework goes beyond these two minimum characteristics. The most effective measurement frameworks often integrate the abilities to delegate tasks, create workflows, and monitor outstanding issues. However, focusing on automation and the platform is a useful starting point to provide managers with an effective performance monitoring tool.

Developing a Platform for Measurement

Capturing the right variety of measures is one thing; understanding, visualizing, ...