The best Key Performance Indicators and Reports
A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.
Defining the dashboards, using business intelligence will allow you to have a very nice visual appeal to the different levels of the organization that will help you to monitor the performance of your business with a reduction of the administration effort. These dashboards will require the definition of the lead and lag key performance indicators, data collection and analytics tools.
Business Process Mapping Metrics
The main purpose behind business process mapping is to assist organizations in becoming more effective. A clear and detailed business process map or diagram allows outside firms to come in and look at whether or not improvements can be made to the current process. Effective business processes will ensure standard work practices, key roles, process interfaces and metrics. These enables the organization to manage in an efficient way the company’s asset management system
What is Data Driven Decision-Making?
Data-driven decision making (DDDM) is an approach to business governance that values decisions that can be backed up with verifiable data rather than making decisions that are intuitive or based on observation alone, supporting competitive advantage.
The success of the data-driven approach is reliant upon the quality of the data gathered and the effectiveness of its analysis and interpretation.
Business intelligence tools are a strong resource to analyze the data and allow easy dashboards customization to display the important information in real time. The changes in how data can be mined and visualized allows business executives who have no technology backgrounds to be able to work with analytics tools and make data-driven decisions.
What is Operational Excellence?
Operational Excellence is a philosophy where problem-solving, teamwork, and leadership results driven by a consistently and demanding implementation of the company business strategy. The process involves focusing on the customers' needs, keeping the employees positive and empowered, and continually improving the current activities in the workplace.
Operational Excellence drivers are based on Key Performance Indicators and Reports methodologies, such as Lean Thinking, Innovation, Six Sigma and Scientific Management, but also integrates Organizational structure and Leadership development.
An Operationally Excellent company will have lower operational risk, lower operating costs, and increased revenues relative to its competitors, creating value for customers and shareholders and should be key for Asset Management success.
