How can you improve your performance measurement with technology?

1 Define your objectives and indicators

The first step to improve your performance measurement with technology is to define your objectives and indicators clearly and consistently. Objectives are the specific and measurable outcomes that you want to achieve, such as increasing sales, reducing costs, or improving customer satisfaction. Indicators are the metrics that you use to track and evaluate your progress towards your objectives, such as revenue, profit margin, or net promoter score. You should align your objectives and indicators with your organization's vision, mission, and strategy, and ensure that they are relevant, realistic, and time-bound.

2 Choose the right tools and platforms

The second step to improve your performance measurement with technology is to choose the right tools and platforms that suit your needs and preferences. There are many types of technology that can help you measure and monitor your performance, such as dashboards, scorecards, analytics, reporting, or feedback systems. You should consider the following factors when selecting your tools and platforms: the availability and quality of data, the ease of use and integration, the functionality and features, the cost and scalability, and the security and reliability.

3 Collect and validate data

The third step to improve your performance measurement with technology is to collect and validate data from various sources and channels. Data is the raw material that feeds your performance measurement system, and it should be accurate, complete, and timely. You should use technology to automate and streamline your data collection process, such as using sensors, scanners, or web forms. You should also use technology to validate and verify your data, such as using filters, checks, or audits. You should avoid data errors, gaps, or inconsistencies that can compromise your performance measurement results.

4 Analyze and interpret data

The fourth step to improve your performance measurement with technology is to analyze and interpret data using various methods and techniques. Data analysis is the process of transforming data into meaningful information and insights that can help you understand and improve your performance. You should use technology to perform data analysis tasks, such as calculating, comparing, or visualizing data. You should also use technology to apply data interpretation methods, such as benchmarking, trend analysis, or root cause analysis. You should use data analysis and interpretation to identify your strengths, weaknesses, opportunities, and threats.

5 Communicate and share results

The fifth step to improve your performance measurement with technology is to communicate and share results with your stakeholders and audiences. Communication is the process of conveying your performance measurement information and insights to inform, persuade, or motivate others. You should use technology to enhance your communication and sharing process, such as using charts, graphs, or infographics. You should also use technology to facilitate your communication and sharing channels, such as using email, social media, or webinars. You should communicate and share your results in a clear, concise, and compelling way.

6 Review and improve your system

The sixth and final step to improve your performance measurement with technology is to review and improve your system regularly and continuously. Review is the process of evaluating your performance measurement system and its results, and identifying areas for improvement. You should use technology to support your review process, such as using feedback, surveys, or audits. You should also use technology to implement your improvement actions, such as updating, upgrading, or replacing your tools and platforms. You should review and improve your system to ensure that it remains relevant, reliable, and responsive.