Data & Analytics

Improved Management and Performance Results

Businesses use data to report information and make decisions. Depending on the type of organization, reporting may occur dynamically, daily, weekly, or monthly. In the accounting industry, financial data is also reported on a quarterly basis. In the financial services industry, operational performance is tracked countinuously. Companies compare results from period to period (month over month, or year over year) to to determine whether the data indicates performance improvement or deterioration.

Tracking Performance Results

Research indicates that organizations that track performance data have also developed a strategy that includes monitoring and measuring results of a variety of activities that are intend to produce process and financial improvement. Here are a few examples:

Marketing departments measure the effectiveness of campaigns and other marketing efforts to determine which tactics best increase the number of new customers added each month.

Colleges and universities rely on increased student levels and associated income. They track the number of student that enrol, as well as those that pay their tuition on-time.

Sales managers that manage teams from a predicted to actual perspective reap better results, faster sales, and higher sales balances than those that don’t measure.

These metrics or measurements have a direct impact on revenue and the organization’s ability to meet it’s obligations and other expenses.