Creating accurate and actionable reporting that genuinely accelerates your businesses profitability and growth give your organisation a substantial competitive advantage. At 4Front our approach is built upon years of experience and industry expertise. We create processes and systems that add considerable value to your business operations, providing actionable information aligned with your priorities, and help you avoid chasing your tail with generic metrics and an avalanche of data. We go that extra mile to build a solid understanding of your needs by asking key questions, allowing us to create feasible and cohesive plans, even when your organisation has a high degree of segmentation between departments. Our insights and experience will help you avoid the trivial and sensational, maximising added value every step of the way.
The 4Front STAR
Our STAR (Steps Towards Actionable Reporting) provides a reference point containing all the vital areas you need to focus on. All of them are crucial if you’re on the path to actionable reporting that can genuinely increase profitability and accelerate growth.
Using a SMART (Specific, Measurable, Achievable, Relevant, Time related) approach to define your goals and objectives makes it easier to identify well-defined KPIs that keep your actionable element strong and transparent. The time-related element allows you to divide your goals and objectives between short and long-term. The overall effect of this is to create a more focused approach that keeps every department, manager, and stakeholder pushing in the same direction, which minimises the chance of costly and ineffective distractions by KPIs you can have little to no effect on.
Hypothesis validation plays a vital role in increasing knowledge and making the implementation of meaningful actions possible. One of the best ways to ensure this is to create plainly defined hypotheses that lead to an analysis of KPIs able to tie findings directly to impact.
Moving Forward With Confidence
All of this preparation will have little effect if the groundwork being put down isn’t solid. Ensuring the quality of your actionable data is an essential element of this, as decisions made based on this data will have greater consequences. Enrichment, verification and issue alerts should all be addressed by implementing effective data quality processes. Consistent testing of hypotheses and the effectiveness and practicality of actionable elements requires a fluid approach. Every key metric should have a target. The KPIs with the most actionable metrics are those that have a target or forecast for comparison, providing context and meaning.
Forecasts and targets are normally reviewed periodically, and actionable measures should be too. Viewing your actionable data as time series is a significant factor in detecting patterns and trends that help predictive analytics, giving you the option to take preemptive action when required.
To build a system that provides actionable data for key KPIs requires an iterative approach. We provide market-leading solutions that create effective change. Our tactical approach will provide all the flexibility needed to ensure you continue to add efficiency and value as you move forward. Contact us today to tap into a wealth of industry knowledge and experience.