Metrics and Dashboards in Selling Company Initiatives to Executives

Metrics and Dashboards in Selling Company Initiatives to Executives

How do executives determine whether company initiatives are effective or not? Executives don’t have the time to regularly comb through lengthy reports. They need important information to be delivered to them in as concise of fashion as possible. This is the role that a dashboard plays. Through a well-designed dashboard, executives can get all of the business analytics data they need.

Building an Executive Dashboard

An executive dashboard must be specific, measurable, actionable, realistic, and time-bound. The statistics displayed should be relevant to the organization’s current goals, displaying both metrics that are over-performing and under-performing. These metrics should be displayed in a timely fashion and should allow executives to drill down to further information that is relevant to them.

At-a-glance, the executive dashboard must give a broad spectrum overview of company initiatives, including everything that needs to be improved upon or modified.

Choosing the Metrics of an Organization

Which metrics should an executive be shown? After all, a company is likely tracking hundreds of them — which are most important? Begin with your organization’s most important metrics, such as its net profits. From there, pare down to the metrics that are underlying that, such as sales and expenses. These underlying metrics are what influences your net profits.

At-a-glance, the executive dashboard must give a broad spectrum overview of company initiatives, including everything that needs to be improved upon or modified.

If an organization has current and specific initiatives, such as increasing returning customers or improving upon new sales, these metrics should additionally be tracked. This gives the executive actionable information regarding the company-wide initiatives that are currently on-going, so they can determine whether the company is moving in the correct direction or not.

Use Data Visualization and Analytics

Few people, even experienced company executives, can glean any information from charts upon charts of numbers. Data visualization makes it easier to analyze large volumes of seemingly complex data all at once. Through data visualization, patterns more easily emerge. Pie charts, for instance, can be compared quite quickly to each other to identify current trends.

The right data analytics dashboard will give you a variety of ways to display information. The more varied the information displayed on the executive dashboard, the easier it will be to compare different metrics and identify changes as they occur. There are many software suites out there built for visualizing complex sets of data.

A modern organization is only as good as its data. There is no way for a business to succeed today without tracking its metrics. Moreover, the metrics on a company dashboard give an executive the information they need to make powerful, well-informed decisions for their company. For more information about the role that information plays in business today, contact the experts at Starr & Associates.

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Creating a Data-Driven Culture in Field Service

Creating a Data-Driven Culture in Field Service

Data-driven cultures are far-reaching. Nearly every industry is currently being disrupted through data analytics, and the field service culture is no exception. Many companies are utilizing a combination of unmanned drones, sensors, and data analysis to make field service more effective and comprehensive. Here’s what you need to know.

Predictive Field Service Management Models

What if you could predict when a system would go down? With big data, you can. Big data uses a combination of sensors and historical data to identify environmental conditions that could indicate a breakdown. This data isn’t a replacement for traditional field service techniques, but instead, it’s designed to augment field servicing. Big data can be used to tell field service technicians when there could be a critical problem, as well as to fine-tune the number of times technicians go out and when they go out.

Predictive field service models work hand-in-hand with the Internet of Things. Internet of Things devices are utilized to capture data in the field, and this data is analyzed. Big data isn’t magic — it requires tremendous amounts of data which is then used to view patterns. As an example, a certain heat signature might only occur just before an element breaks. These patterns can then be used to create a risk assessment for individual machines and equipment on the field.

A data-driven culture is a cost-effective, safe culture. Better data means technicians need to be on the field less and are on the field when they are most useful. Not only does this reduce field-related industries, but it also reduces the overall cost to a business.

Creating a Data-Driven Culture

A data-driven culture is a cost-effective, safe culture. Better data means technicians need to be on the field less and are on the field when they are most useful. Not only does this reduce field-related industries, but it also reduces the overall cost to a business.

Creating a data-driven culture begins with the right hardware and software systems. Companies must take care to outfit their on-the-field infrastructure with the right sensors and IoT devices and must utilize state-of-the-art software to capture and analyze this data.

Companies also need to change their core business processes to directly relate to and manage this data. The technology has to be integrated at all levels of their field servicing so that data brought in and analyzed has an ultimate impact on when service calls are made and how service technicians operate.

Integrating data into field service is the first step towards making a more effective, productive, and competitive environment. Companies can substantially reduce their overhead while also reducing their risk, by utilizing an ecosystem that is less likely to experience breakdowns, delays, or injuries. For more information about this type of solution, contact the experts at Starr & Associates.

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Starting a new enterprise is a rewarding but tumultuous experience. The journey is riddled with uncertainty, hidden pitfalls, competitors, and grueling hard work. All of this is compounded by the fact that very few startups or small businesses have the infinite amount of experience, time, human capital or capital to weather all of the potential storms that lie in wait. In today’s business landscape, developing the right product or service is not the only parameter for success. Perhaps equally as important is the timing to market and ability to adapt to market forces.

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How Extra Office Safety Can Boost Work Productivity

11 May 2018 Uncategorized

We know all business managers would love to be able to cut their costs and expenses and boost their revenues as often as possible. Unfortunately, this is easier said than done, and it requires hard work, perspiration, inspiration, and a stroke of genius from time to time.

But how does investing in enhanced office safety measures to increase your business productivity sound? Like a complete nightmare you don't want to hear anything else about? Well, you wouldn't be the only business manger to have this reaction! The truth is there are quite a few studies that will tell you that it is possible to increase productivity once the degree of safety at the workplace also goes up.

A Safe Workplace Will Minimize Your Downtime

  • No one wants to see their employees waste precious time at the job simply because they are incapable of resuming their activity because of a safety concern. A key getting lost or someone breaking into the their storage room could put your entire manufacturing activity on hold. Having items or machinery stolen from you will most certainly put you in an almost impossible situation where you can no longer continue to produce your goods.

  • The more downtime you can reduce, the better off your productivity levels will be. As for an office workplace, you can think in terms of IT infrastructure.

  • Having your employees or workers suffer any kind of accident or injury will cause them to become less reliable and able to perform their duties.

  • The safer your work environment, and the harder it is for potential intruders, vandals, or burglars to get in, the better. Your employees will feel more peace of mind knowing they are well protected against this type of physical security threats.

  • Take a look at a few locksmith rates for commercial services in town and see exactly what they can help you with. A reliable Whitlock with lots of experience in the field could help you assess the state of your current locks and padlocks on your doors, windows, drawers, safes, cabinets, and storage rooms. They can also provide practical solutions in the form of installing or re-keying locks, or servicing existing locks, cutting duplicate keys, including master keys for better key management, installing alarm systems on the premises, as well as safety bars, small-keyed locks, and/or alarm sensors on windows, especially for ground floor facilities.

Safe Employees Are More Engaged

  • Once you will manage to develop a powerful safety culture, you will manage to boost employee productivity by close to 25%. At the same time, statistics show there will be a decrease in your costs by 20%. So it's definitely worth looking into the idea.

  • A safe workplace also equals one where all operations and tasks are performed ideally and under perfect parameters.

  • Since employees are able to fully focus on ther work and not have to worry about any hazards they might be threatened by, they will perform a lot better. They will also maintain their workspace a lot cleaner and better organized, which will also increase their levels of efficiency.

Productivity – the Goal of Modern Age

11 May 2018 Uncategorized

Starr & Associates understands how to use the tools of business intelligence, analytics, and data mining to improve process efficiency and customer service. Our industry focus is diverse and includes public sector, healthcare, manufacturing, mining, and telecommunications. We use proven practices and technologies to improve productivity and reduce costs. In this article, we hope to present to you some of the best tips and tricks out there to use technology to improve your productivity!

Productivity: An Everyday Struggle and an Opportunity for Growth

Consumers should understand that technology can be a blessing or a curse for productivity. Increasing productivity with technology is possible when the right tools are utilized. Determine where you need a productivity boost in your everyday life and if there is a tech tool readily available to fill that gap – chances are, there is.

Based upon the information gathered in an online perIt is funny how it works, but this is how things are, generally.formance evaluation, managers can compare current skills with those required for advancement or other recognition or reward opportunities that present themselves as the manager tracks progress on employee goals throughout the year. Generally speaking, employees want to be appreciated for their hard work.

Productivity in an Exemple Setting

Productivity measures the economic performance of the resources employed in creating the casino product. For tourism and hospitality firms, variations in productivity are caused by differences in production technologies, resource availability, input quality, and economies of scale and size. Despite the growth in legalized gambling, there have been few studies investigating productivity among gaming firms. This is a sorrowful development – one can wonder why an industry as large as gambling industry does not have proper productivity metrics, given its importanct to world economies.

Despite the practical difficulties in measuring the economic output and input of casino gaming, data released by the industry suggest that this is a very productive sector. In principle, while social costs associated with the provision of casino gaming may downgrade its productivity, promotion of investment, production and consumption of non-gaming services.

Work in casinos (as anyone will tell you) involves a lot of paperwork; so much so, in fact, that you might feel very overwhelmed by all the paper. Remember the “Four D’s” when handling paper:

  • Dump it
  • Delegate it
  • Delay it
  • Do it.

After you have delayed something, allow sufficient time to see if you need to act on that particular item. If not, toss it. Don’t gift wrap the garbage. It’s not necessary to do insignificant tasks perfectly.

With turnover rates near 80% in the casino resort industry, you need to ensure employees are not only happy, but providing exceptional guest service. A good suite of casino resort-specific solutions can help you manage employees in all parts of your business from table games and retail, to housekeeping and events. Owning a casino is so much more than a simple business operation – the limits of your organization skills will be tested, and they will be tested severely.

Many casinos are asking their dealers and pit bosses to run manual processes such as using a hand ‘clicker counter’ to record cash drop and enter data into an ‘hourly pit sheet’ when they should be managing a table and looking after customers. It is now possible to automate these tasks. There isn’t a single excuse in the world not to do this; it could make or break your business.

With labor costs accounting for between 50-70 percent of all operating expenses in a casino, don’t over staff and spend or under staff and lose revenue opportunities. Efficient and effective work schedules are the key to keeping costs down and maximizing revenue. Monitoring staffing and fine-tuning schedules daily will help them be at their top approach.

Of course, you can take the simple approach and simply open one or many new online casinos. This will allow you to work with minimum staff. The issue here, of course, is that people are generally much less trustworthy of online casinos; however, you can end up being in a positive end of the scale by the fact that you don't have that many salaries to pay. The choice is completely up to you.

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