Key Performance Indicators ( Kpis )

Collecting data and analyzing employee activity to identify key performance indicators (KPIs) is used to forecast an expected array for all monitored work assignments. Organizational development requires improving what the organization knows about employee performance. The statistics helps to determine whether efficiency processes that are impacting to the workload are effective. Monitoring call average handling times (AHT) per call and customer ratings can increase both productivity and quality (Levenson, 2014, p. 23). When analyzing KPIs, organizations can use the process statistics to determine or observe processes that helps to drive exceptional customer experiences by providing guidance and feedback regarding all elements of the customer

Dashboard is a data visualization tool that displays the current status of metrics and key performance indicators (KPIs) for an enterprise. Also, dashboard consolidates and arranges numbers, metrics and sometimes performance scorecards on a single screen. They may be tailored for a specific role and display metrics targeted for a single point of view or department. The essential features of a dashboard product include a customizable interface and the ability to pull real-time data from multiple sources. An Executive Dashboard gives a clear picture of the data and the insights visually to the corporate executives.

Strategic / Executive Dashboards Strategic dashboards will typically provide the KPIs (Key Performance Indicators) that a companies executive team track on a periodic (daily, weekly or monthly basis). A strategic dashboard should provide the executive team with a high-level overview of the state of the business together with the opportunities the business faces.

Before our clients can get to a point of having a dashboard of KPI’s and metrics, it’s imperative to understand the problems and the reasoning for diving into analytics. As a firm, why do you want to engage in analytics? Do you have the full support of the firm to include analytics in the decision making process? What are some of the issues that can be improved through the measures of data? What are you specifically trying to accomplish? What is the quality of the data being measured? These are all key questions that need to be answered before engaging in any sort of analytics and reporting. It’s important to remember that a firm should not do analytics, for analytical sake. There should be a reasoning and number of problems that could be solved through analytics. If not completed properly, the use of analytics could be a huge drain to cash flow and influence decisions that could have a negative impact on the firm.

The validity and effectiveness of the patient advocacy program can be measured using key performance indicators or KPIs. KPIs are defined as a “set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their strategic and operational goals” (Investopedia, 2015). The KPIs chosen for JPS should reflect its goals. As shown in the Fishbone diagram, healthcare providers are tasked with multiple moving parts such as patient care, facility management (environment) and emergency room conditions. Therefore, the three KPIs that will support this process change and continuously measured to success are time to healthcare, lab turnaround time, and ER waiting times.

Establish Key Performance Indicator Dashboards: the first step for improving the revenue cycle is to establish the right key performance indicators (KPIs) for each department and track it. A gap between current and targeted outcomes directs an opportunity for development.

b) Isolating critical few metrics: A dashboard should not have overwhelming metrics as it gets complicated to segment or highlight the performance. Having too many metrics is difficult for audience to ascertain what the key take away from all such metrics are. As it can be misleading it is recommended to have 5 key metrics. If there are more than 5 its best to make it more concise and shortlist the critical few which are impactful. Within the dashboard it is vital to understand what key metrics mean and set goals for each metric to drive the bottom line of the business. Dashboard must articulate the decision making process.

This study also made a comparative analysis of the use of different functionalities offered by a dashboard in three functional areas of the organization. Different departments in an organization use dashboards differently to serve their unique

The uses of executive dashboards have become widespread in most organization [9]. Not because of its visual representation but they assist the organization communicate, strategize, monitor and correct the execution of the strategy to deliver actionable insights to all [1]. A dashboard is an essential tool for monitoring or summarizing the high level information about the daily health status of an organization [1][4]. From a single interface, the top executives can retrieve key performance indicators (KPIs), actionable insight that can be used to actively guide business performance [4].

The Key Performance Indicator focus on the objectives and goals of a company’s performance, it is a way for the company to determine if they are on the right track toward their goal and objective. This is a way for managers and leaders to have a better understanding if they company is on track to success or not (Pirlog, R., & Balint, A. O.,2016,p.175).There are four main areas that use the KPI, which is revenue improvement, cost reduction, process cycle-time improvement, and increased customer satisfaction. However Charlotte Russe does employ the Key Performance Indicator which uses many different KPIs to measure the customer service strategy. Some of the KPIs that are used to measure the strategy are overall satisfaction, conversion rate,

The executive dashboard is a snapshot view to the strength of key business strategies and is presented in a way that might trigger a response. In order for an executive dashboard to be effective, there are characteristics and best practices that should be considered. First, dashboard designs should begin with a specific audience in mind as well as contain meaningful information. For example, some executives specialize in operations that would benefit from metrics related to hardware and software functionality; while other executives focus on financial strategies that deal with cost, revenue and sales (Ravikumar, 2016). Additionally, the data being aggregated and presented should be updated as quickly as possible, in order to prevent any lag in mission critical actions (Kaushik, 2007). Ultimately, an effective dashboard should provide information that connects to executive management in a way that moves them to action. This is the basis behind the “Trinity Mindset” model; which can help refine information into meaningful intelligence (Kaushik, 2007, p.

Once the key performance indicators are defined, the source and method of collecting the data will need to be mapped to ensure the indicators can be measured. Some of the data may be difficult or impossible to obtain with the current resources available to the organization. This process will identify those gaps and provide an opportunity to establish new data collection methods and tools.

In all cases, I will use an appraisal performance system in order to track the execution and outcome of goals. We can also use Key Performance Indicators (KPIs) that measure general economic, environmental and social performance. Finally, we can also employ a third party, objective external assessor who can also review our Company's internal and external performance

As defined in [2], “Executive dashboard is a computer interface that displays the key performance indicators (KPIs) that corporate officers need to effectively run an enterprise”.

One of the first reports used is the Company Dashboard Report. This is a visual report displaying key performance indicators, current status of metrics, and can be tailored for a department’s metrics or the overall company metrics. The dashboard provides data for a specific measure of time (Rouse, 2016) versus a Scorecard, which provides it for a period of time. It is an important tool for any business looking for departmental information. The information from this report comes from within the company and provides a snapshot of where the company stands. The PharmaSim dashboard shows a snapshot of the overview of the company that includes revenue, gross margin, net income, and stock price. It also has a bar chart based on the department’s metrics. In this case, Allround’s performance is shown (Performance Summary Period 1, 2016). The last portion of the dashboard includes customer comments from social media. This allows for the department to see customer feedback on a real-time basis and make decisions to improve brand performance.