Trinity Mindset Is A Strategic Approach For A Decision Making Platform

Whenever new metric are introduced, it is very important that everyone is communicated the updates quickly. The first line of communication should start with management. When training management on new metric, a reference guide or a point of contact should be given for additional support. The objectives of management should consist of grasping the concepts of new metrics, ability to explain the concept of new metrics, and ability to evaluate employees with new metrics.

Determine whether the responsibility reports needed to track performance should be created by department, function, or manager, using a costing method of your choice. Based on the costing method you selected, determine the type of data needed to track and evaluate performance to control costs such as cost per unit, cost per hour, etc. Be specific with your examples.

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.

One cannot simply do reporting and discover how to spam executives with data. By having actionable insights and metrics, it will enable a strategic differentiation and a maintainable competitive advantage. The step of trinity mindset is behavior analysis or clickstream data analysis. The purpose of this step is to gain as much knowledge about clickstream as possible and to be able to infer the intent of a website’s visitors. The next step of trinity mindset is outcomes analysis. This is a critical component of trinity mindset, since we want to determine what was the outcome for the visitor and the website. In this step, a website is measuring revenue and the reasons why it was successful. The last step of trinity mindset is experience. A visitor’s experience is the most important component, due to the fact you are trying to get into the mind of the visitor. A website can do this in a couple of ways. The first way being through surveys. This is helpful because the visitors are reporting to you through the survey the problems they encountered on your website. Also, your website can do A/B testing to see what pages result in a higher conversion rate. Trinity mindset allows your website to clearly understand a customer’s experience in which you can affect the right customer behavior. As a result, you are positioning your website in a win-win situation for not only your benefit but also your customers. Each step in trinity mindset is supported by a tool, various methodologies, sustainable process and people with the right skill

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.

It also turns out that the higher you go up the chain of command, the more analytical skills go down, and the context required to make sense of the numbers on the dashboard is also dramatically reduced. Every dashboard in the world should include as few tables and charts as possible. It should include insights written in English (or your native language) by the analyst,

It displays relevant data and lets you drill down as necessary to take an even deeper look at any aspect of that data. For instance, a dashboard might show you that sales for one product line are way up today. A good dashboard lets you drill past that information and figure out why they’re up. Displays a relevant data.

3. The Executive Dashboard is a computer interface that arranges information in an easy-to-read format. This system also delivers key performance meters that corporate directors need to run an effective business.

Furthermore, it is our goal to ensure that all of the necessary visibility and metrics currently being used by each department remains as transparent as possible. The ability to manage and view the general ledger, accounts payable and receivable, inventories for each manufacturing vertical and project, and provide these through customized reports that should be not only tailored to each group but they should provide for greater control of the enterprise as a whole without the reliance on individual accounting teams to maintain accuracy and performance of their business units.

The six executive project metrics that were provided to Mick Dobroff, CEO of Interconnecting Cable, Inc. (ICC) were EBIT/FTE better engineer, average project profitability index, customer satisfaction with product quality, customer satisfaction with milestones’ accomplishment, percent of milestones accomplished, and percent of milestones budget met. Even though, Dobroff clearly requested the four primary metrics category in the dashboard as financial, process, customer and learning (Milosevic, Patanakul, & Srivannaboon, 2010); however, in my view the learning category was entirely missed by the project team.

A well-designed hypothesis plays a significant role in optimization. The statements from the hypothesis help one to collect both insights and data regarding the behavior of the website’s visitors and convert them into the focused proposals to work on. The hypothesis is used to carry out an experimentation process

According to Kaydos (1998), getting the most relevant data assists the organization to come up with an effective performance measuring system. Further, deriving the most relevant data enables the creation of a system that is relevant to the organization and easy to use. Moreover, Kamensky & Morales (2005) note that the most relevant data is useful to managers for making decisions, instead of the most convenient data. Indeed, deriving relevant and factual data enables the organization to come up with performance measures that have high levels of reliability and validity, enabling the organization to depend on

Research problem (Statement): To observe and understand users’ seeking behavior, purpose and need while navigating the information space.

A management dashboard developed with the help of SAP shows how smoothly a critical process is running at a certain point in time. Information from the dashboard helps Burtons users identify inconsistencies a problems that should be monitored more closely.