2 months ago

Turning Your Data into Insights

Setting Expectations

Setting Expectations Each KPI needs a target to provide context, a source of comparison and impetus for action. Targets are typically informed by past performance and set to reflect overall business objectives for the period. To enable active performance management, targets for KPIs that measure outputs should be translated into input targets. This requires careful analysis of trends in historical data to predict how inputs lead to outputs within the business. For example, if past performance shows that 10% of online inquiries lead to a new customer signing up, the target for responses to online marketing activity should be set at ten times the number of new customers required. This method of setting targets is illustrated in Example 1. 6

Capturing Data through Workflows To ensure data for KPIs is reliable, systems must be designed to capture critical information from daily operational workflows. Technology that captures data in real time reduces the need for cumbersome parallel systems and minimises costs associated with data collection. Hivetec’s suite of products support data capture from workflows across a wide array of Government contracts including employment services, disability and care. TURNING YOUR DATA INTO INSIGHTS 7

“The Honeypot” - Hivetec’s Data Warehouse Insights Lab