Data Driven Decision Making Process
Organisational decision making process is complex and should take into account multiple influencing factors. Decision making can be and should be supported by data driven insights that convert raw data into meaningful information. This information, when delivered to decision makers in an intuitive visual way, will help to make smarter decision. Excel can serve as a simple yet powerful topol to create such information dashboards based on preliminary analysis model and POWER BI components.
Excel - The Bridge Between IT To Business Needs
Companies develop and use unique processes and approaches to cope with their business needs. These processes usually are supported by information systems. Data collection and analysis take place all the way from production to sales and service. The methods of data collection differ among organisations, however, the goal should be similar - fit company strategy and increase profits. Yet, some processes are not supported by core information systems like ERP, CRM or DWH and BI infrastructure. Such cases require go-between approaches to obtain relevant data and its implications on the process efficiency and performance. Such report are most usually created in excel and can be seen at wide variety of organisational units. Excel, thanks to its accessibility and flexibility combined with powerful features for advanced users and developers, serves as a bridge between un-mapped data processes and the business needs.
Purchasing KPI in Excel- Example:
Purchasing processes naturally are data driven and may comprise numerous data analysis and key performance measurements (KPI) needs. Following is general framework for excel based KPI system:
- Mapping operational and financial processes entities
- KPI definition and classification
- Solution characterization by front-end/back-end functionality
- Defining the logic for translating raw data to meaningful indicators
- Reports definition and design
- Implementation and training
- Support and new features
Added Value For Business Process
Professionally designed KPI system that is successfully implemented within purchasing organisation allows to continuously measure and improve various aspects of purchasing process and even related processes.
Before KPI system: partial/inaccurate understanding of potential and actual pitfalls
After KPI system implementation: full and accurate view of process components data driven decision making, operational and financial indicators improvement