Harvard Business Review’s Post

In contrast, an Enterprise-wide Data Management Centre-of-Excellence approach enabled the benefits of standardized and cost-effective data management. This was well suited a decade ago when data was limited. Now with unlimited and exponential growth of data and big data, a Franchise Approach would make more sense. The key ingredient for successful adoption of Franchise Approach is for CIO and CDO leadership to hold on to the urge of being microscopic at cutting costs while embracing the Franchise Approach. This if not done, would lead to a mix of two worlds (CoE/Horizontal vs. Franchise/Verticalized approach) and a chaotic data stack which be least effective for any data-driven organization. #DataManagement #CIO #CDO #DataStrategy

Great article on "Approach to data management". A federated model (Franchising data stewardship and analytics development to various business units), Data Governance leaders (Hub) as the franchisors can help each team derive insights from data responsibly and with a degree of independence. #DataGovernance #InformationManagement #DataManagement

Are you striving to make quality, data-driven decisions that truly impact your business? Here's a simple but effective hack: Less data leads to more qualitative decisions. Your data is like the ingredients for a pizza. If you pile on 12 toppings, you won’t end with a pizza you’d savor. The perfect pizza is made with a select few ingredients, blended to perfection, and cooked just right. How can you apply - less is more - to data driven decision making? Instead of asking for broad data, pinpoint what's essential. For instance, you are analysing firm service ticket efficiency. Don't just request generic information like: “I need data that shows time required by our firm to complete service tickets” Instead, be more specific: “I need information about the service tickets  related to customers inquiries — (excludes non client facing work) handled by the operations team — (exclude other teams) ” The "less is more" approach equips you with accurate, focused data that minimises the risk of making misguided decisions.

KPIs are important for all businesses, and having that information readily available is crucial to support the growth of restaurants. Dashboards, and automated reporting tools like Tenzo, are an easy way to empower all business stakeholders to understand and act on their data. In our latest blog, we focused on what to consider when setting up your dashboards. Find it linked below!

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KPIs - Simplify by getting rid of the reports you no longer need or use I have seen IT team members work their tails off generating old weekly and monthly reports that seemed to be obsolete. We kept asking the business if we could eliminate some of these reports since they were time-consuming and difficult to create, and newer reports provided the same data. The business was afraid to turn off old reports, because "somebody might need it". Sometimes the only solution was to stop creating the report to see if anyone complained. If you do not understand exactly who is using a report and the value it provides, the best business solution is to turn it off. If later you see you still need some of the data, see if you can add it to a current report rather than turning the old report back on. Are you buried by old reports that nobody wants to get rid of? Message me to schedule a quick call to discuss your problems and how I can help you resolve them. #fractionalCIO #KPI

Hello Everyone! I'm excited to share the incredible data solutions offered by InsideTrackData.com, a cutting-edge subsidiary of Buyers Edge Platform. 📊 Key Services: -Data Analytics: Unlock strategic insights from complex datasets. Business Intelligence: Turn raw data into actionable insights, staying ahead in your industry. -Invoice Auditing: Ensure accuracy in contract payments; recovered over $10 million for clients last year. -Data Consolidation: Effortlessly analyze diverse data sources within our comprehensive software. -Price Analysis: Identify fluctuations, assess pricing variances, and optimize your contracts. Our goal is to empower businesses to make informed decisions, enhance efficiency, and boost profitability. If you're seeking a data solutions partner, let's connect! I'm here to discuss how InsideTrackData.com can tailor its services to meet your organization's unique needs. 📆 Ready to Explore? Let's schedule a brief call or meeting at your convenience. Comment below or send me a direct message, and let's elevate your data game together! 🚀 #InsideTrackData #DataSolutions #BusinessIntelligence #Analytics #InformedDecisions #BuyersEdgePlatform

Are dashboards a waste of time? Maybe, but I think it’s the wrong question to ask. The better question is what makes a dashboard successful? What would make someone want to use it? I built a dashboard at HourWork 1 year ago that people have used regularly to this day. This dashboard is not fancy. It includes a few tables looking at the same metrics broken out by different dimensions. There’s nothing really actionable about this dashboard either. No major insights that will impact the bottom line. The secret to the success of this dashboard is very simple: I talked to people. I built relationships with individuals who are key to the operations of the business. I got to know them, their challenges, their frustrations. I used this information to provide them something I thought would be helpful to them. I believe the key to a successful dashboard has nothing to do with the dashboard at all. Its success depends on the people you are building it for. The good news is that this is not complicated. Any data professional at any skill level can build an impactful dashboard. All you need to do is have a conversation.

Owner Operators are TOAST. We can all agree (mostly) that Brokers play an invaluable role in connecting and managing routes for carriers, BUT : at what point do the “record setting revenues” end for those with the lowest overhead? Truckers are averaging 3% margins while the dialers and AI operating systems are pulling 60% of the pay rate. Owner operator margins are toast. How can truckers get ahead? ** Answer**~ By leveraging their networks and utilizing their resources to optimize their routes, spending, and automating their own reporting processes. It’s time for the little guys in the industry to evolve. These things ARE accessible to all- a small investment in operating analytics will pave a path for better understanding and stronger spend management. Contact us to learn how you can improve your profits and increase your margins. #owneroperators #trucking #oversupply #chrobinson #gxo #ev #convoy

KPIs become meaningless if you fail to do one thing… > Set realistic targets. Setting targets for KPIs establishes a clear benchmark for success. However, you don’t want to make them unattainable. There’s no point in working towards a goal you know you're not going to achieve. Your goals should be both realistic and challenging. Aiming to drive your organisation towards continuous improvement. How do we at Mettryx measure these targets? 🎯 We use the right software and tools to monitor these KPIs. It's like having a personal assistant for your data. 🎯 We always come back to our KPIs. Are they still relevant? Do we need a tweak here and there? Learn how to set realistic targets and measure them in our latest blog: https://lnkd.in/efwTSJun #Goals #KeyPerformanceIndicators #KPI #SME #CFO