We live in a world of immense technical innovation and data is something many of us are immersin. There are times when there seems to be too much of it. Other times, we’re seeing a lot of information, but it’s not being presentin a way that is relevant. Dashboard Reporting Provides us a chance to make informdecisions. As the owner of multiple companies and brands, I spend a lot of my time looking at data.
Data informs the strategic goals for my companies.
Data helps me to understand what’s working and what isn’t.
There’s a direct link between some data, such as marketing for instance, and the bottom line of my companies.
There isn’t a day that I don’t walk into my offices, and I’m not looking at multiple reports, particularly financial reporting and sales or even asking my team to provide me analytics on things, such as our social media results. Data spans the gamut, and I can slice and dice every area of my businesses and see how we’re performing.
After I first when I startmy holding company, there eventually came a time when the work of my team and I began to take off. All of the sudden I was askfor interviews and people wantto speak to me and get my take on things. I always knew that as a CEO, it’s just not possible to be involvin every aspect and minute detail of the businesses. On occasion, I was aska question that I couldn’t answer on the spot, although I was always able to provide at least some answer.
In those early days, I asktwo of my team members to come into my office so I can tell them about the experiences I had been having in speaking to people outside of our organizations. I also told them that I was having trouble making strategic decisions because the information I needwas not the way I needto digest it. Even though I was not part of every decision within the company, such as the lower level ones, I still needto have critical information rollup to me so I can understand the broader implications. And, it needto be presentin such a way that it made my decision-making process effective. My team developdashboard reporting for me that day which gave me the essential information about each of the business lines and also the totality of all of it.
As an example, I’ve had occasions. Where I’ve been ask about the number of followers on one of our social media platforms. Some people can consider it an irrelevant question that perhaps a CEO might not know. But that’s not the way it should be. As the chief executive. I should know the number of followers, clients, and issues. That are outstanding for our brands, even if it seems minor. I may not neto know that the best hours for social media promotion for us. But I neto know the top-line information in all departments.
Old School Reporting
Dashboard reporting is an essential tool for business, and I ask my teams to create a lot of it internally. Yes, there are plenty of platforms today that give you their analytics. That’s all well and good, but often it’s not what I neto know as CEO. If you’re the senior-most executive in your organization. Don’t shy away from ad-hoc dashboard reporting that is preparby your team members. Getting precisely the information you need–as you want to see. It is essential to making informstrategic decisions. And, the reality is that sometimes the ready-made tools out there are useful. But they’re not providing you the relevant data you want. Presenting it in a way that you neto understand it.
Dashboard reporting provides clarity and insight to CEOs. So they understand information and can interpret it in a way that makes sense to them, in their role. Is not imposdue to the functionality of a software package or by others.