Actions and Detail Panel
PT Workshop: Developing Performance Metrics for Your Business
Fri 16 June 2017, 09:30 – 11:30 BST
Topic: Develop Performance Metrics for Your Business
Expert Facilitator: Paul Stacey – iQ Consulting
DATA OVERLOAD! So much information, so little time - how can I use data more effectively to grow my business
Data volumes are exploding - according to Forbes:
- More data has been created in the last two years than in the entire previous history of the human race.
- 300 hours of video are uploaded to YouTube every minute.
- 1.4 billion smart phones will be shipped this year, all packed with sensors capable of collecting all kinds of data. By 2020 there will be 6.1 billion smartphones in use around the world.
- By 2020 at least a third of all data will pass through the cloud.
All businesses have the potential to use data and information more effectively to:
- reach customers
- increase sales
- improve profits
- customer engagement
- improve staff retention
- decrease risk
- increase reputation
- build your brand.
This is particularly true for micro and small businesses.
You may see this as overwhelming, or an opportunity. Governments & big business are investing heavily in “big data” projects and see big rewards - but we can use the same principles to scale this back to something useful for smaller businesses.
So - what can small business learn from big business about use of management information? When is the right time to start developing Key Performance Indicators (KPIs), and how can they be used effectively in a value-adding way?
In this session we will use some tips/ tricks used by large International businesses to:
- Identify key performance indicators (KPIs) for your business and where to find them.
- Understand how KPIs relate to traditional business metrics like sales & profit.
- Prioritise KPIs according to your business goals & strategy.
- Understand how to capture and report on KPIs meaningfully.
- Understand how to build a framework around efficient use of KPIs.
We hope to make it fun so you and your team keep momentum.