Drunk on Data? Here's How to Turn Insights into Actionable Results with OKRs & KPIs

In today’s data-driven world, we’re swimming—sometimes drowning—in information. Tools like Workday Adaptive Planning have revolutionised how we access and analyse data, streamlining processes through better automation and integration. But here’s the paradox: more data doesn’t always lead to better clarity.

As FP&A professionals, we often face this challenge firsthand. Month-end reporting, once optimized through process improvements and advanced tools, begins to balloon with new requests for additional metrics, dashboards, and analysis—often without questioning why that data matters or how it drives decisions.

So how do we avoid getting “drunk on data” and ensure our insights actually inform action? The answer lies in OKRs (Objectives & Key Results) and KPIs (Key Performance Indicators)—two powerful frameworks that help focus efforts, align with strategy, and drive meaningful outcomes.

Step 1: Align with Business Objectives and Stakeholder Goals

The foundation of impactful reporting starts with alignment. FP&A needs to ensure OKRs and KPIs are tied directly to overarching business objectives and stakeholder priorities.

For example:

• CEO Goal: Increase revenue by 20% next year.
• COO Goal: Improve operational efficiency by 5%.
• CFO Goal: Enhance profitability and cash flow.
• Head of Finance Goal: Reduce month-end reporting cycle by 30%.

Talk to your stakeholders regularly to understand their priorities and adapt reporting to track progress against these key goals.

Step 2: OKRs: Driving Focus and Alignment

OKRs are a proven goal-setting framework that helps organizations focus on what matters most.

• Objectives: The what—a bold, qualitative goal that inspires action.
• Key Results: The how—specific, measurable outcomes that define success.

How to Define Great OKRs

1. Make Objectives Bold Yet Achievable: Example: “Transform our customer experience to become the #1 choice in the industry.”
2. Ensure Key Results Are Measurable and Time-Bound: Example: “Achieve a Net Promoter Score (NPS) of 80 by the end of Q2.”

But OKRs are only as effective as the actions taken to achieve them.

Turning OKRs Into Actions

Let’s break down an OKR into actionable steps:

Objective: Transform our customer experience to become the #1 choice in the industry. Key Results:

1. Achieve an NPS of 80 by the end of Q2.
2. Reduce average customer response time to under 2 hours by March 31.
3. Increase customer retention from 75% to 85% by year-end.

Actions to Achieve These Key Results

Key Result 1: Achieve an NPS of 80

• Conduct an NPS survey to establish a baseline and identify pain points from detractors.
• Address top complaints like product quality or service delays with targeted improvement plans.
• Engage promoters with loyalty rewards and amplify their advocacy through testimonials or referrals.

Key Result 2: Reduce Response Time to Under 2 Hours

• Implement AI-driven chatbots to handle simple queries instantly.
• Train customer support teams on faster ticket resolution and prioritize urgent cases.
• Use tools to automate ticket routing to the right teams.

Key Result 3: Increase Retention to 85%

• Proactively identify at-risk customers using data analytics and reach out to address concerns.
• Prioritize customer-requested product enhancements or features in your roadmap.
• Reward loyalty with discounts, exclusive benefits, or access to new features.

Step 3: Define KPIs (Key Performance Indicators)

While OKRs focus on the destination, KPIs are the tools that measure the journey. These are quantifiable metrics that monitor performance and provide real-time visibility into business health.

The Role of KPIs in Driving Success

1. Monitoring Progress: KPIs offer ongoing insights into whether your strategies are working.
2. Identifying Gaps: They highlight areas of underperformance that require immediate attention.
3. Informing Decisions: Good KPIs allow leaders to make data-driven adjustments to stay on course.

How to Choose the Right KPIs

• Align KPIs with OKRs: Each KPI should support a key result or broader business objective.
• Focus on Actionable Metrics: If a KPI reveals underperformance, there must be clear actions you can take to improve.
• Balance Leading and Lagging Indicators:

Leading KPIs: Predict future performance (e.g., sales pipeline growth, customer inquiries).

Lagging KPIs: Reflect past performance (e.g., revenue booked, churn rate).

Examples of KPIs:

1. For an OKR focused on revenue growth: Monthly recurring revenue (MRR). Average deal size. Customer lifetime value (CLV).
2. For an OKR focused on operational efficiency: Cycle time per process. Percentage of automated tasks. Employee productivity (output per hour).

Pro Tip: Avoid vanity metrics. Metrics like “number of reports generated” might look impressive but don’t necessarily indicate progress or actionable insights.

Step 4: Turn Data Into Actionable Insights

Raw data isn’t enough. FP&A teams need to ensure reports tell a story that drives action. Ask yourself:

• Does this data align with our OKRs?
• Does it empower stakeholders to make decisions?

If the answer is no, it’s time to refine the metrics or simplify the presentation of insights. Here are some key steps to ensure your data is actionable:

1. Context and Relevance: Tailor the insights to your audience. What matters to the CEO might be different from what the marketing team needs. Make sure each report is aligned with the audience’s specific needs and priorities.
2. Propose Next Steps: Don’t just present data—recommend actions. If a KPI is off-track, suggest concrete steps to address the issue. This transforms the report into a roadmap for improvement.
3. Highlight Trends and Comparisons: Provide context for your metrics. Show how the data compares to historical performance, industry benchmarks, or previous targets. This offers clarity and helps stakeholders understand the bigger picture.
4. Encourage Dialogue: Insights shouldn’t be static. Present them in a way that sparks discussion and collaboration. Dashboards and visuals are great tools for fostering conversations about what’s working, what’s not, and where to focus next.
5. Test for Clarity: Before sharing insights, ask yourself: Can a non-finance stakeholder easily understand the takeaway from this data? If not, refine the narrative or adjust the visuals to make your message clear and actionable.
6. Revisit Stakeholder Needs: Have priorities shifted, requiring updated metrics or new goals?

By combining insights with regular reviews, you ensure that your data doesn’t just inform, it drives decisions, continuous improvement, prompt acation and adaptation toward business success.

The OKR-KPI Connection

The magic happens when you connect OKRs with KPIs and actionable insights. Here’s how they complement each other:

• Purpose: OKRs are designed to drive strategic change and focus on outcomes, while KPIs are used to monitor operational performance and ensure you’re on track.
• Time Frame: OKRs are typically set for specific periods, such as quarterly or annually, to guide long-term goals. In contrast, KPIs are measured in real-time, providing ongoing visibility into progress.
• Scope: OKRs are broad, aspirational, and qualitative, setting the vision for what success looks like. KPIs are precise, quantitative, and focus on tracking specific metrics that underpin the achievement of OKRs.

By aligning your OKRs with relevant KPIs, you create a powerful feedback loop that drives clarity, focus, and measurable impact.

Conclusion

We live in an era where data is abundant, but the key to success lies in focus. By aligning OKRs and KPIs with strategic goals, FP&A teams can cut through the noise, prioritise what matters, and ensure that insights drive results.

Are you still overwhelmed by data, or are you using OKRs and KPIs to lead the charge toward clarity and action? Let’s move from being data-rich and insight-poor to building truly actionable strategies.

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