At the core of every business decision are insights based on sound data. It's critical for organisations to understand which numbers to keep track of and how to go about calculating them.
Henderton helps businesses understand the metrics which matter, to define KPI sets to make sure you’re measuring the right things. Then we help you interpret your data to design and develop dashboards which are tailor-made to your needs - so that you can make the most out of your data, helping you transform your data into actionable insights.
Some of the common questions we hear from our clients are:
Who are our most valuable customers?
Which are our best-performing channels?
Which are our most effective campaigns?
How does our activity compare to competitors?
Are we allocating resources appropriately?
What are our best opportunities for growth?
Where should we focus our marketing spend?
What should we do next to increase our results?
Are our metrics linked to delivery of strategy – both current performance and future potential (a mix of leading and lagging indicators)?
Are clear targets being set (based on external benchmarks), communicated and linked to reward?
Is measurement at the appropriate intervals and against agreed definitions?
We help you interpret your data and understand the metrics which matter. Our advisors will help you identify, measure and manage industry-specific KPIs for your own dashboards.
Effective business data analytics requires a few key elements, including:
Goals and objectives: defining what you want to achieve and how you will measure performance.
Data management: systematically collecting and integrating information from your various systems.
Analysis and reporting: creating visualisation and analytics dashboards which clearly communicate not just results but also strategic insights.
Bringing these pieces together and truly harnessing the power of your data, however, requires specific expertise. As experienced performance measurement consultants, Henderton will ensure you establish the framework and processes necessary to successfully execute analytics within your data-rich environment.
The benefits are increased focus and alignment:
Align the work people do on a day-to-day basis with organisational vision and strategy.
Improve organisational performance by measuring what matters.
Improve communication of the organisation’s vision and strategy.
Focus on the drivers of future performance.
Prioritise projects and initiatives.
Transform the organisation and build buy-in to change.
Henderton helps organisations build KPI frameworks or balanced scorecards from scratch or assess and improve what they already have. We apply best practices gained from extensive consulting assignments in balanced scorecard, strategic performance management and measurement, strategic planning, and change management to help executives, managers and analysts transform their organisations into “performance excellence” organisations.
Our advisors will help you identify, measure and manage industry-specific KPIs from your own dashboards.
KPI setting: developing meaningful KPIs or evaluating and improving existing KPIs, ensuring cascaded objectives and KPIs are aligned with strategy, and improving communication and alignment around desired results.
Dashboard design: designing dashboards and reports to enable data-driven decision making, formatting the dashboard to suit your business approach.
Sales dashboards: track sales performance and make adjustments where needed to mitigate risks, manage quotas, forecast sales, and measure conversion rates over time.
Marketing dashboards: ensure campaign performance is reported, measured, analysed and refined, finding the best channels for conversions and reach.
Operations dashboards: providing a holistic view of your core processes to drive your team’s productivity, synching data from all operational sources to connect the dots and deliver real insights.
Finance dashboards: creating a single dashboard which covers all financial indicators, simplifying complex spreadsheets to measure track performance to targets, ROI and cash flow, revenue growth, margins sales, income and operating expenses.
HR dashboards: gain an overview affecting your company’s people management at a glance to reduce hire times and turnover rates, track new-hires and at-risk employees and monitor employee satisfaction.
Balanced scorecards: ensuring balanced development of the organisation to achieve business goals by combining strategies, perspectives, key ratios, actions and budgets.
Customer experience: optimising your end-to-end customer experience focus by breaking down silos to identifying gaps and measure CX across channels and devices, uncover insights and serve your target customers better.
If you would like to learn more about our experience, please contact our practice team.
We have helped numerous organisations gain extra focus and the insight which comes from having the right data at the right time in the right format to drive their businesses.