Get yo’ own dashboard-The Strategy of Data
I had a boss once who was a stickler about data. She claimed it was the lifeblood of the business. Her saying was “I need to know what the measuring stick is before I can justly compare myself to it”. I was not a big data, analytical type person. I worked in legal at the time and felt it didn’t affect me, so I had little use for her perspective. At the time, data wasn’t “in my world” or in a place where I could grasp and respect its use. However, a few years later when I volunteered to serve on a committee outside of work, the lightbulb came on. In one of the first meetings that I attended with this group, the agenda called for an analysis of the previous year’s event. When the members begin discussing outcomes from the past events, the statements were vague and broad. They said things like:
· The event was so good.
· The attendees enjoyed themselves.
· We had a great turnout.
What, what? My head was spinning! For the first time, I had a front row seat to what the absence of applicable data looks like. I have heard some compare it to driving in rush hour traffic blindfolded. So, as I listened to them speak, inwardly I began asking myself questions.
. Good compared to what? What is the competition doing? What are the market trends indicating? Where is the data that supports what guests want out of an event like this?
· How do you know they enjoyed themselves? Who said it? What exactly did they say and to whom? Was this their first time attending?
· Great turnout, as in more than last year? What was the target number of attendees? Did we make target?
Data is not a big bad wolf. It is nothing to fear. It is your friend, even when it reveals information that is not favorable. Good data is the blood that flows through the veins of every area of your office or business. It’s a strategy that can put you light years ahead of anyone in your organization (or industry) who fails to acknowledge its value.
The simplest explanation of data is defined as facts or information often used to calculate, analyze, or plan something. “Big Data” a term that has been recently popularized, is simply major chunks of information that is in turn used to unveil patterns, and determine trends. It especially relates to human behavior and interactions. It is used to provide industry intel and build the BI (Business Intelligence) of its end user.
Do I need “all of this” to run my division effectively? YES. You need to obtain data that spotlights and studies your industry and target market audience. You also need to manage data to keep your hand on the pulse of the status of your department. Churchill is quoted as saying “However beautiful the strategy, you should occasionally look at results”. Ok, How? Actually, your car is a clue.
Years ago, I drove an old car that was extremely temperamental. On a good day, it drove like a champ. The first indication that I had that something could go awry was by watching the temperature gauge on the dashboard. When that gauge started learning toward hot, I knew that it was set to overheat and my day would be spent putting antifreeze in it to keep it under control.
How helpful would it be to have a gauge that you can watch on your own department (even a department of ONE) that could give you a warning in advance before things got overheated?
Data funneled into the simplest of dashboards can give you the at-a-glance perspective you need to always know the state of your office and your role in the areas that are important to you.
There are numerous moving parts in your corporation that can impact your outcomes. A business dashboard summarizes the status of these areas with simplistic, real-time visuals. In a car, you can quickly see your speed or how many miles you can drive before your tank is empty. It even has indicators such as a check engine light or a battery icon to serve as a warning when there’s something wrong.
Just like the dashboard in your car, a business dashboard displays the gauges measuring systems underneath your operations hood. It is designed to give you a bird’s eye view of how the business (or just your department) is doing and if you are going to need the antifreeze. This is widely known…not groundbreaking as many corporations do this for the overall business. However, you need a data tool for YOU and those under your employ (or your direct reports).
For my company (and when I served as Chief of Staff), I implemented a simple traffic light system. Based on goals and annual pre-set parameters, I can quickly judge whether any area of my company is:
Green: Meeting or exceeding of 90% of targets in that area.
Yellow: Meeting some targets, but behind goal in others.
Red: Failure to meet targets
Yes, I am disappointed when I see red. Yet, I am always relieved that I won’t be blindsided by making assumptions about my business that are not true. I would rather do the work and operate in truth. If that means data, then bring it on.
“Data will talk; if you are willing to listen.”-Jim Bergeson.
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Camille D. Jamerson is a global speaker, author & entrepreneur. She is the Senior Consultant and CEO of CDJ & Associates a boutique management consulting firm. As a former AA, EA, Chief of Staff and Head of Global Offices she lends her years experience and expertise as the founder and admin of the LinkedIN Chief of Staff-The New C-Suite Leader group.
Her amazing assistant, Reema handles her wacky calendar and about 76–94% of the rest of her life as well. Reema can be reached at info@cdjandassociates.com to book CDJ for your next event, conference or workshop!
