Time to Insight should be a standard KPI for every business. As Dianna DiSanto argues, today’s business leaders need the ability to gather real-time insight and leverage it instantly. But this new KPI means more than just abandoning those visually taxing spreadsheets for cutting edge data visualizations. Time to Insight really overhauls the entire system, and touches every process along the way.
At 9Lenses, we are connecting all the data points in a business, speeding up the process of collection, and improving data display. To improve Time to Insight in your company, keep these three tips in mind:
1. Time to Comprehend.
Poorly designed, visually daunting reports quickly get shoved to the bottom of the pile and provide minimal value to decision makers if they ever get retrieved. Business data truly needs to be “actionable intelligence,” allowing decision makers to act decisively and quickly. How you say it really does dictate what you say.
2. Time to Collect.
Conducting one-on-one interviews with consultants and turning those notes into reports presented months later is an antiquated model, demanding time no one has to spare. Even instantly comprehensible representations of that data come too late after a plethora of changes in staffing, finances, operations, and market trends render the original findings obsolete. Collection timelines must provide as much near-to-real-time data as possible.
3. Time to Connect.
An outdated, but sadly, typical “learning Dashboard,” for an executive looks like this:
[icon_list style=”padding-left:3%;”] [icon_list_item type=”circle”]Learning about your organization from your Financial systems[/icon_list_item] [icon_list_item type=”circle”]Hear what your people say in a 360 review four months later [/icon_list_item] [icon_list_item type=”circle”]Meet with the program leads [/icon_list_item] [icon_list_item type=”circle”]Finally, (we can only hope) bump into the one person who really knows what’s going on with XYZ contract[/icon_list_item] [/icon_list]
To make matters worse, each executive, the HR Director, CFO, CIO, and COO, buys consulting and learning platforms from different providers. This learning is all disconnected, fragmented, and trapped in different parts of your business. If all that data is stuck in silos, do you really expect to find every piece of helpful insight? Learning in real-time in a single platform reduces Time to Insight by instantly connecting the knowledge of your Sales Rep in Beijing with your Account Manager in London.
Reducing Time to Insight is critical for leaders who want to stay ahead in today’s business environment. Make it your new KPI.