Some companies believe they can gain valuable business insights by simply setting up an analytics tool. The reality, however, is that analytics require a thoughtful approach. This blog explores three key considerations for extracting maximum value from business analytics software.
1. Measure the Right Data
In tracking business performance, there are many data points to consider. Should you track everything and sort it out later, or focus on key metrics from the start? Focusing on important data points initially is usually more effective, especially if you’re new to analytics. Consider these key questions in your planning:
- What areas of your operations need more visibility?
- Which equipment, lines, or shifts are consistently problematic?
- Are there parts of the business that consistently underperform?
- Where do you feel the greatest opportunities for improvement lie?
2. Clean and Prioritize Data for Review
Collecting data is just the beginning. Ensuring the data is clean and relevant is crucial for meaningful analyzing. Deciding whether to focus on current or historical data can also impact the insights you gain. For example, examining past data could reveal trends that guide improved decision-making, whereas live data can assist you in tackling problems as they occur.
The key is not just to collect data but to collect data that is actionable and falls within your sphere of control. Tracking data related to processes or factors you can influence directly will be most beneficial.
3. Develop Role-Based Dashboards
Customizing dashboards according to the user’s role within the organization is crucial. Irrelevant information can cause confusion and decrease productivity if it does not directly relate to a person’s job role. Adjusting the level and type of information presented ensures that each team member receives insights that are both clear and useful for their specific responsibilities.
Excellence Through Data Precision
Using business analytics well is all about smart planning and focus. Focus on the most important information, ensure it is correct, and customize how findings are shared to suit various roles. This way, you can handle the complexity of analytics tools more effectively.
Dploy Solutions’ business KPI management software, enhanced with powerful analytics capabilities, offers a strong platform for monitoring key performance indicators. Our expertise in manufacturing and operations management can guide you in identifying the most valuable data for your operations and customizing your dashboards for maximum impact. Ready to harness the power of analytics in your manufacturing operations? Contact us to get started.