Posts Tagged ‘metrics’

A Blinding Blizzard

March 23, 2015

blizzard

Blinded by the data blizzard?

In 2014, this volume of data was produced, each minute:

  • 204 million email messages were sent
  • Google received more than 4 million search queries
  • 2.46 million pieces of content were shared on Facebook
  • 277,000 tweets were sent, along with 48,000 apps downloaded
  • 26,380 reviews were posted on Yelp! and 216,000 photos posted on Instagram
  • 3,472 images were pinned to Pinterest, and
  • 72 hours of new video were uploaded to YouTube

In Digital Destiny, Shawn DuBravac, PhD, reminds us there’s no need to remember these figures. They are obsolete. The quantities are far greater today. However, these facts show something very important: the huge scale and speed of data production.

Data is everywhere in your organization, community, home and life. Managing effectively depends on measuring accurately. The careful use of data sets strategy, creates programs, provides feedback, shows potential for improvement and displays  outcomes.

With increasing frequency, we see metrics, indicators and findings mis-used. To support a conclusion or point of view, some people consciously (and unconsciously) will generate or select data to suit their purpose. It’s a strong way to market any message.

There’s no public or private “regulator” that practically sorts this for you. The volume and quality of data used across many contexts presents tremendous challenges for those with little measurement experience or awareness.

Professionals who handle data routinely know and practice ethical standards for data use. What can you do? Here’s a start: listen to skeptics; trust your intuition; ask hard questions to challenge assumptions, methods and sources; read more about metrics; understand limitations in findings; secure an independent review by an ethical evaluator.

Data can be very powerful in the right hands, heads and hearts. Because of this, every manager-leader needs data literacy.  Sorting out the signals from the noise is a vital skill in demonstrating value, for learning and creating change.

Lisa Wyatt, Ed.D. is chief strategy officer and partner in Phillips Wyatt Knowlton, Inc. PWK is a performance management resource for systems and social change with clients worldwide. Lisa has cross-sector and international experience. She is an author and W.K. Kellogg Leadership Fellow. See: www.pwkinc.com

Smart Measurement

August 4, 2014

If data told you where to improve and whether you’re successful or off-course, would you want it? Would you use it? When talk turns to metrics –people often shut down. Mostly, it’s because relevance and utility are absent. Sometimes it’s because people prefer to avoid accountability.

The sticky and too-common problem: people collect and report a vast range of items that are easy to measure instead of deeply understanding and choosing a vital few metrics.

Key performance indicators (KPIs) should be vital navigation gauges to understand where your work stands compared to planned results. The right data is used to improve both processes and impact. In your selection, make sure data is both  relevant and actionable.

One way to organize indicators is to see your organization in several big parts. A simple four-piece dashboard common to the private sector includes: customers (or participants), financial performance (outcomes), internal processes, and talent. Those noted in parentheses are a social sector comparable.

What do you need to know about each to make decisions?

1.Customers or Participants It makes sense to have information about your customers or participants…without them, the enterprise quickly fails. For both exempt and for-profit organizations, you might want to know what is your participant retention rate? You also might want to know about “reach,” which is closely associated with the effectiveness of your marketing strategy. How well do you translate inquiries, invitations, presentations, web views into new participants? This is a “conversion rate.” To determine growth, the size of your slice of the pie, compared to others in the same market is important to know, too. This is relative market share.

2.Financial Performance or Outcomes The private sector identifies a revenue growth rate or net profit margin. In this context, it’s also relatively simple to calculate return on investment. Although more complex, the social sector can describe outcomes, too. Results often come in the form of reductions or gains, e.g., fewer teens in the criminal justice system or better science scores by 9th grade. It’s important to be able to describe short-, intermediate and long-term outcomes. Specifying those outcome chains in a time sequence  informs smart plans, adaptation and progress. It’s essential to know where you are …to get where you’re going. A social service agency or foundation cites the aggregate of their effort across multiple programs or grantees. For example, Pew Trusts delivers public value from environmental partnerships in several selected priorities.

3.Internal Processes The cost and quality of internal processes are ripe areas for review because these can be directly influenced by capable managers. We know the overall enterprise performance is deeply connected with routine functions. The maturation or relative sophistication in processes is an important measure. So, for example, in planning: Does rigor, discipline and evidence occur in a standard process and cycle? In addition, capacity as well as productivity are areas to assess against standards, as is the value on-going projects contribute to operations.

4.Talent High performing organizations rely on great talent. Organizational leadership as well as human resource practices vary in quality. Both significantly influence workforce and the workplace. “Best in class” human resource practices focus on talent identification, selection, development and retention. The talent domain raises these and many more questions: What competencies and attributes matter most in our staff? Do we have the right people? Will staff recommend their employer as a great place to work? Do staff attitudes and behaviors contribute to the enterprise goals? How do staff rate each other, themselves, their supervisors? What’s the depth of the management bench? Is the prevailing culture healthy or toxic?

Einstein said: “Not everything that counts can be counted, and not everything that can be counted counts.” Steering your ship requires the right information at the right time to inform choices. It is why skillful management measures carefully.

-Lisa Wyatt, Ed.D. is chief strategy officer and partner in Phillips Wyatt Knowlton, Inc. PWK is a performance management resource for systems and social change with clients worldwide. Lisa has cross-sector and international experience. She is an author and W.K. Kellogg Leadership Fellow. See: www.pwkinc.com


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