What are the best analytical reasoning tools for tracking business performance?

I use OKRs, which I first learnt about in the book 'measure what matters' and felt it a clear invaluable tool to align my goals with the teams goals and measure effectively. OKRs follow a simple template that fit nearly every purpose: I will [objective] as measured by [key result]. The Objective is the goal you want to achieve— eg I want to be a brand ambassador for the top 3 health companies The Key Result is the metric by which you’ll measure your progress towards your objective— eg 1 weekly service visit, 3 content creations on their behalf a week The OKRs provide a clear framework. I have 3 annually that I share with my team who then create 3 based on their role and my company OKRs that I then review with them monthly.

Las herramientas son totalmente 100% prácticas y útiles el momento de tomar una decisión, planificar o controlar . Todo depende del objetivo que se quiera conseguir; si el propósito es planificar y plantear metas SMART es muy útil y fácil de compartir; si el propósito es mantener una medición continua el panel de KPI nos permite tener una idea continua de resultados. DAFO nos permite visualizar la realidad de una situación actual. Una herramienta que en procesos es muy útil ERIC (eliminar / reducir / incrementar y crear ) con esto se puede analizar actividades y tomar decisiones. Independiente de la herramienta que se utilice, para tener éxito es muy importante sociabilizar al equipo involucrado y que forme parte de su creación.

Como gestor comercial na indústria farmacêutica no Brasil, considero que a escolha da melhor ferramenta depende dos objetivos específicos da empresa e do contexto em que se encontra. No entanto, em nosso setor, a Análise SWOT (Strengths, Weaknesses, Opportunities, Threats) se destaca como uma ferramenta fundamental. Ela oferece uma vis?o abrangente dos fatores internos e externos que impactam o desempenho do negócio, permitindo a formula??o de estratégias mais eficazes. A Análise SWOT é particularmente valiosa no ambiente dinamico da indústria farmacêutica, ajudando a identificar oportunidades de mercado, mitigar amea?as e otimizar pontos fortes.

This is such a helpful way to analyse a business in the right frame of mind. An opportunity to see the business with a fresh set of eyes and give the processs the right focus and attention to get the most value. A proactive approach. A SWOT at the beginning stages of launching your business is key. Typically we as business owners can sometimes be reactive which sees us perform this level of analysis a little too late when the business has taken off, and we are busy paying attention to the most urgent challenges in our business at the time. This approach can cloud our judgement and in turn see us miss important things about our business that is critical to our success.

CRM systems such as Salesforce, HubSpot, or Zoho CRM provide valuable insights into customer interactions, sales performance, and pipeline management. By tracking customer data and sales activities, businesses can identify opportunities for growth and improve customer relationships.For online businesses or those with a significant digital presence, Google Analytics is a powerful tool for tracking website traffic, user behaviour, and conversion rates.Ultimately, the best reasoning tools for tracking business performance will depend on factors such as the industry, size, and specific analytical requirements. Carefully evaluate different tools to choose the ones that best align with the objectives

I'm a big fan of knowing your numbers and having clear, measurable goals for your business. You don't have to complicate the process of identifying them. A SMART approach, while given a "fancy name," is a simple way to pinpoint the areas where you want to grow and what data will help you see your progress or highlight areas of improvement. I often challenge business (specifically coaches) clients to come up with three types of goals: - one metric-driven business goal (i.e. revenue increase). - one client goal (i.e. break into a new industry) - one professional development goal (i.e. new cert or course). Notice how only one of those has a metric attached to it, but they're all still measurable! What are your goals?

Knowing your numbers and sticking with a process that works for you. Let's face it there are days that just drag and take with it your motivations to move forward with the tasks at hand. There are all kinds of saying in Business Development: 3 no's= 1 yes. The man/ woman that chases two rabbits will always catch one. They are cute and at times accurate. There are also days when it doesn't matter what your numbers are or how many rabbits are in view, sometimes you get nada. These are the tough days and the days when focus and sticking to your process are what get you through.

De Cara los objetivos organizacionales, usar la metodología SMART para asegurarnos de alcanzar ese objetivo es fundamental. Mientras más específico sea los objetivos sera más certero su alcance.

When I was a youth attending my church, my mentor introduced us to SMART goals. As leaders in the youth program we were taught the importance of SMART goals. I really learned a lot from my mentor and appreciate that he taught us that simple system in our youth. We could then apply that same system to the rest of our lives.

SMART Goals: Setting goals that are Specific, Measurable, Achievable, Relevant, and Time-bound is fundamental to driving purposeful action. As a mindful leader, I advocate for the cultivation of goals that resonate with the organization's values and aspirations while honoring the well-being of all stakeholders involved.

A KPI dashboard not only addresses the key performance metrics of any specific business unit but also reflects the true quantifiable measure of the impact created by performance of every individual business unit towards organisation’s overall success. The interactive outlook of the key performance areas via graphs, charts and dashboards make the analysis easier to review and decrease the monotony of data being clubbed in a single resource. Some really common KPIs are Customer/Stakeholder Satisfaction, Customer Retention, Profit Margins etc.

A KPI dashboard provides a visual representation of key performance indicators relevant to the business's objectives. It allows stakeholders to monitor performance metrics in real-time, track progress towards goals, and identify areas that require attention or improvement.

Los paneles de KPI brindan a los usuarios una solución eficaz para monitorear KPI y métricas empresariales. Proporcionan una vista consolidada de los datos, simplificando la comprensión del estado empresarial. La visualización de datos es personalizable, con indicadores de rendimiento. Crear un panel KPI en la misma herramienta para definir indicadores garantiza tener todo en un solo lugar. Al ajustar definiciones de KPI, orígenes de datos o metas, los paneles se actualizan automáticamente, ahorrando tiempo y esfuerzo.

I lean towards the KPI board. It provides a step by step measure of where the performance ought to be and where we currently are. Helps tremendously in overcoming any ambiguity with the outcome.

A KPI dashboard serves as a compass, guiding leaders towards meaningful insights that reflect the organization's health and trajectory. In cultivating such dashboards, I emphasize the inclusion of metrics that not only quantify financial success but also measure the organization's impact on its community and environment.

Delving beneath the surface, root cause analysis empowers leaders to address systemic issues with compassion and empathy. By understanding the underlying drivers of challenges, organizations can enact transformative change that prioritizes holistic well-being and sustainable growth.

In the realm of decision-making, I advocate for frameworks that honor diverse perspectives and promote collective wisdom. Decision matrices, when approached with empathy and mindfulness, facilitate inclusive dialogue, enabling teams to navigate complexity with clarity and compassion.

Aplicar una matriz de decisión en un equipo organizacional implica definir claramente el objetivo, identificar opciones y criterios, asignar ponderaciones y puntuaciones, recopilar datos, calcular puntuaciones totales, analizar los resultados y tomar decisiones informadas. Involucrar al equipo promueve la transparencia y la aceptación de la decisión final, lo que contribuye al éxito de la implementación de la opción seleccionada.

When you transform an organization in the direction of self-organization, it is essentially about delegating responsibilities in a constant dialogue. The corresponding responsibilities must be made understandable and discussable. This is why a decision matrix is one of the central instruments in an organizational transformation. If you work in a classic management structure, I would also introduce the delegation matrix. You empower your colleagues to the greatest possible extent that the organization allows. Even in a classic organizational structure, there are teams with an extraordinarily high degree of autonomy.

Je nachdem, welchen Bereich der Unternehmensleistung ich verfolgen m?chte, nutze ich andere Tools. In Beratungsprojekten erlebe ich h?ufig, dass viele Kennzahlen erhoben werden, auf verschiedenen Wegen und dann stelle ich die Frage “und was machen Sie damit?” - und dann ist oft Stille im Raum. Ich denke, es ist unglaublich wichtig die Umsatzzahlen, die Deckungsbeitr?ge, die Angebotssummen, die Anzahl der Angebote und die Stati der Angebote zu verfolgen. Je nach Gr??e des Unternehmens mit Power BI, ERP- oder SAP-Systemen, Excel-Listen oder (worst case, funktioniert aber auch) mit Papier. Der noch wichtigere Schritt ist allerdings festzulegen, wie h?ufig schaue ich mir die Zahlen an UND was mache ich mit der Information?

Implement a CRM system to track customer interactions, manage leads, and analyze sales performance. Understand customer preferences, identify cross-selling opportunities, and improve overall customer satisfaction

In my view it's important to always remember that your business is a tool in itself for you to deliver on your life mission or personal why. Be mindful as a business owner and remind yourself to constantly review your purpose, becuase like most things in life this can also be fluid and ever changing as you grow as a person and as your circumstances change. Everything starts with you, and performance is very much linked with your alignment to self. Keep this in mind if all the tools you have on hand stop working, realign yourself with your purpose and the rest will start to fall back in place.

Here are a few more tools - problem decomposition - hypothesis evaluation - bias evaluation - decision tree - coast benefit analysis - scenario reasoning

Una herramienta muy útil en los casos en los que la empresa se ha marcado objetivos de crecimiento, es la MATRIZ DE ANSOFF (o matriz del crecimiento). Resulta de gran utilidad sobre todo en las Pymes, dado que este tipo de empresas raramente cuenta con productos líderes en el mercado. Esta matriz muestra los productos y mercados en función de si son actuales o nuevos, para tomar decisiones estratégicas de expansión o diversificación, según cada caso. El criterio correcto debe ser que toda empresa debe agotar todas las posibilidades de expansión (penetracion, desarrollo de nuevos productos y desarrollo de nuevos mercados) antes de abordar cualquier estrategia de diversificación.