Inform Decision Making with KPIs and Dashboards
Keep a Pulse on the Health of Your Organization
As your organization grows and your go-to-market strategy evolves, it is critical to understand the health of your sales teams and the success of key initiatives. That is why sales leaders and operations teams need to identify and track selected critical metrics to keep a pulse on the organization’s health.
There is no shortage of metrics you can track. The key is identifying the few crucial metrics and KPIs most important to your business, translated to easy-to-read dashboards. Alexander Group will partner with you through this metric selection and dashboard creation process.
Tracking Metrics to Guide Growth
KPIs and dashboards are crucial tools in allowing revenue leaders to track the performance of their teams, understand the impact of initiatives, make informed decisions and pivot where needed.
Metrics are critical for companies with multiple business units, complex business strategies or extensive transformation projects. Selecting the right KPIs and developing clear dashboards allow leaders to make intelligent, thoughtfully-considered decisions.
Selecting KPIs and creating dashboards requires understanding your strategy and careful consideration of what data to track and the best way to display it, including:
- Assessing your strategy and business goals
- Prioritizing your KPIs and determining the feasibility and accuracy of each
- Conducting data analysis to calculate your KPI results
- Integrating machine learning workflows for revenue growth insights
- Developing dashboards directly in the tools native to your organization
Below are the steps in selecting the right KPIs and creating effective dashboards:
- Define your business goals: What are your strategic targets over the next year? What initiatives are in progress? Defining your business goals will help you identify the most important metrics. For example, if your primary business goal is to grow revenue through new customers, customer acquisition or generated leads may be critical KPIs.
- Establish a current state metrics inventory: What data do you currently and consistently collect? What KPIs do you have that are both measurable and accurate? Ensuring you can track the progress of your KPIs over time and rely on them to inform decision-making is crucial.
- Select the critical metrics: Not all measurable KPIs impact your business strategy. Prioritize KPIs based on their relative importance and impact on your business.
- Develop your dashboard: Building simple, easy-to-read, informative dashboards provide quick access to potential issues. Consider the visualization tools that best represent your data, an intuitive layout and how the users can interact with the data to inform decision-making.
Alexander Group uses data integration and workloads to generate your commercial source of truth, including dashboards, reports and visualizations that communicate key commercial insights.
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How Does Your Organization Compare to the Industry?
Contact Alexander Group to learn more about establishing KPI’s and designing commercial dashboards and begin the process of understanding your business better.