What are KPIs and why are they important?
Key Performance Indicators (KPIs) are metrics that track performance, activities or progress in relation to an objective.
These metrics can provide valuable business insights that help organisations make impactful decisions. Focusing your time on analysing meaningful information rather than searching for disparate data makes for better, more timely decisions.
You can develop the ability to view your organisation as a whole or drill down on a particular section to better understand your business, your staff and your customers. This will allow you to:
- Respond more quickly to changing conditions and undesirable trends
- Improve your planning process
- Understand how your customers perceive you and how to enhance their customer experience
- Understand your operations and the key challenges facing your staff
- Understand the link between efforts/resources and performance
What are the common challenges organisations face when trying to analyse their Business Information?
- Data is stored in siloed platforms that do not interact with each other
- People find information is difficult to find or are unclear as to whether it exists
- Some information can only be viewed as a snapshot and isn’t stored for ongoing analysis
- Databases are not technically well designed for extracting data
- Data may be older versions of systems offline or stored in an unstructured manner, such as separate excel files, in a range of locations
- Data may require cleaning before it can be useful
- People don’t have systems or authorisation to access the business information they need
- There isn’t a culture of entering the required inputs or regularly using KPIs
How does our BI consulting process work?
We tailor our consulting to your needs
Diamond works with customers to assess their current environment and adjusts our BI consultancy to meet their requirements. We can provide a suitable level of engagement from a basic appraisal to a comprehensive multiphase project. We can also focus primarily on business objectives, technical aspects or both.
We’ll help you select an engagement that meets your needs and ultimately helps you succeed.