Information about InetSoft's Performance Management Solution
This is a table of contents of useful product information about, and benefits of, InetSoft's performance management software:
Charts That a Career Services Director Puts on a Balanced Scorecard - A career services director, responsible for assisting students and alumni in their career development and job placement, may include various charts on their balanced scorecard to track and measure the performance of their department. Here are some charts that a career services director might include: Job Placement Rate by Graduation Year: This chart would show the percentage of graduates who secure employment within a specified timeframe after graduation. It helps assess the effectiveness of the career services department in connecting students with job opportunities. Employer Satisfaction Survey Results: This chart would display the results of surveys conducted with employers who have hired graduates from the institution. It measures the satisfaction level of employers with the skills and preparedness of the institution's graduates. Alumni Employment Status: This chart would track the employment status of alumni at various intervals after graduation, such as six months, one year, and five years. It provides insights into the long-term career success of alumni and reflects the effectiveness of the career services in supporting their professional growth. Internship/Co-op Participation Rate: This chart would show the percentage of students who participate in internships or cooperative education programs. It indicates the department's success in facilitating experiential learning opportunities and helping students gain practical industry experience...
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Chat Tools to Track Decision-making - Are enterprises using chat tools instead of having a round table verbal discussion about decisions? Are they forcing people to use something like that so they can trace decision-making? I wouldn’t say they’re forcing this method. What I’ve observed is the whole social network phenomenon has created a communication channel that people are now predisposed towards and are already regularly communicating via those channels. So organizations are looking to leverage those channels. It’s less about forcing people and more about taking advantage of the penetration that social networking has made into the employees of the organization. My personal opinion is that collaboration is still very primitive in most organizations. And so, I would lump this into this same category as being innovative. Two-thirds of the organizations are not really basing a lot of importance on that right now. But again if you’re looking for ways to be innovative, I think it’s pretty clear that collaboration will become more and more important and it could be a way again to show some vision and get ahead of the market a little bit...
Clarifying and Measuring Organizational Vision - Any business and organization needs to have clarity and specific detail around their organizational vision in order to measure it moving forward. Number three has to do with being able to clarify and measure organizational vision. So what happens is all these stupid deliberate words go up on the board. The next step is to take all these deliberate words and just bring them together into some awkward sentence. So after six or eight hours of this nonsense, he ends up with some garbled sentence that says our vision is to be a world class leading edge customer focused producer with value added products and services using engaged employees in a lean six-sigma fashion. Everybody says amen, that looks good to me. Afterwards, everyone’s mentality is I don’t know what the hell it says but it includes my word in it so I like it. Never have I ever seen a good vision created by a team whose job is to write the vision of a company, the boss, CEO, and the boss’s job. The boss ought to talk to a lot of other people before coming up with a vision but you don’t need a team of 12 really smart and expensive people to try to write a sentence. That’s a recipe for disaster...
Client Scorecard Examples - InetSoft's comprehensive real-time analytical reporting and dashboard software provides user with client scorecards that serve to monitor, measure, and manage performance by tracking metrics in real-time. View the example below to learn more about the Style Intelligence solution...
Collection of Key Performance Indicators - Learn all the most important KPIs that organizations track either for a department type or an industry classification. InetSoft provides KPI tracking software that is affordable and easy to deploy....
Company Performance Management System - An analyst's assessment of InetSoft's performance management system. Recently, line-of-business managers have been making it a priority to use performance management in the operations of their units. However, they are often impeded by the fact that many current performance management products were designed for use in analytics by technically sophisticated users, not for easy-to-use deployment in operations. But now performance management software provider InetSoft has released a major new version of its Style Intelligence software that makes advanced performance management capabilities easier to use and interact with as part of operational management decision-making. InetSoft’s dedicated performance management platform and tools have delivered and continue to offer management reporting, scorecards, and dashboards that are easy to configure and deploy...
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“Flexible product with great training and support. The product has been very useful for quickly creating dashboards and data views. Support and training has always been available to us and quick to respond.
- George R, Information Technology Specialist at Sonepar USA
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Compensation for Non-Financial Measures - A problem with many companies and organizations these days has to do with compensating work that can't be measured financially. Number five, I don't see many companies linking compensation to non-financial measures. A lot of them talk about how important employee engagement is or employee satisfaction, which used to be called engagements, the latest buzz word, next to the gallop people. They talk about customers and how important they are but we’re certainly not going to pay for that but rather will pay for profits, will pay for growth, and will pay for stock price. So what are you telling people that we don’t really believe these other measures? There’s good reason not to believe these other measures. A lot of them lack integrity. A lot of people can figure out how to cheat on them. Does anybody know how the car companies cheat on those customer satisfaction surveys? They call up customers right before the survey and say you got a call didn’t you? So did I. If there’s anything that you are not happy with, tell us now and we’ll fix it before you get to survey. So they are manipulating your score so they get a good score and can report that we’re number two or one to J.D. Power...
Compliance Operations Analyst Performance Tracking - A Compliance Operations Analyst utilizes performance tracking dashboards as a crucial tool to monitor and analyze compliance-related activities within an organization. These dashboards provide a visual representation of various metrics, key performance indicators (KPIs), and trends, allowing analysts to gain insights into the compliance operations and identify areas for improvement. Here's how a Compliance Operations Analyst can use performance tracking dashboards effectively: Monitoring Compliance Metrics: Dashboards display real-time or near real-time data related to compliance metrics, such as the number of compliance incidents, regulatory violations, or policy breaches. Analysts can monitor these metrics regularly to gauge the overall compliance health of the organization and identify any emerging patterns or issues. Identifying Trends and Patterns: By observing trends and patterns depicted in the dashboard, analysts can identify recurring compliance issues, potential risks, or areas where compliance efforts may be falling short. For example, if a specific policy or regulation consistently shows a high number of violations, it may indicate the need for targeted training or enhanced controls in that area...
Comprehensive Guide To Web App Performance Monitoring - As technology becomes the mainstay of business success in current times, most organizations rely on web applications for generating revenues and delivering value to their customers. But you need to think beyond ensuring your website remains up and running at all times in a competitive digital environment. You must also go the extra mile to optimize your web pages to deliver a better user experience at all times. Factors like slow-loading pages, lack of mobile optimization, and other glitches can cause a high bounce rate and low search engine rankings. It is vital to monitor your web applications regularly instead of taking a set-and-forget approach to stay ahead of these performance parameters. But most business owners miss out on it and end up getting complacent about user experience. You cannot afford it because users expect web applications to be available around the clock, highly responsive, and accessible from anywhere. Here is a comprehensive guide to web application performance monitoring to stay ahead of these factors...
Conduct a Performance Analysis Workshop - The next step would be then to conduct a performance analysis workshop where you go for the findings, and you reinforce it one more time. The workshop is extremely important. The workshop is attended by all people from the executives down to the staff level. It is really to allow people to voice their concerns, to voice their areas where they feel they are really strong. It is a means of communication. It's a means of setting the stage in case changes come out of it. There is also a step where you can, of course, score the company. Obviously you have to score, and then there is always a question of comparing them to others. And then the next step is implementation planning. That includes change management plans and implementation plans and communication plans, and then to go forward, prioritize the issues and get a commitment. Take the first highest priority issue, and work on it. So what do some of these things look like in detail? We will talk about that. The other things that we have to address when we are in an organization, they overlay like clouds. There are those things that are somewhat intangible. There are skills and knowledge within the organization that you have to look at. There is the management organizational culture and then last not least there are technologies, the software...
Corporate Performance Management Systems List - InetSoft’s innovative performance management system offer corporate management reporting, scorecards, and dashboards that are easy, agile, and robust. It is easy because you enjoy a rapid implementation; minimum specialized IT expertise required. Experience a shallow learning curve for business users; only Excel-level skills needed Make it easy for analysts & administrators; no SQL experience required. Scale up with zero-client deployment and no per-user licensing...
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Creating a Scorecard - Every organization has a set of key metrics. These measurements can be used to monitor your performance, and help identify areas that warrant further investigation. These metrics can be defined at an enterprise level, and then viewed in a concise scorecard. Creating a target involves the following steps: • Select a Metric. A metric can be selected from the list of available metrics, and it serves as the source of data when the condition is evaluated. • Specify the Condition. The condition defines the goal or expectations for a metric. A condition can be of type: general condition, trend, or script. • Select Actions. The actions specify what to do when the target condition evaluates to true. Any of the standard actions as well as the custom target actions can be selected. • Specify Triggers. The trigger is specified when the target condition is evaluated. Any of the standard triggers, as well as custom target triggers, can be specified...
Credit Unions Track These KPIs - Credit unions are member-owned financial organizations that function to provide their members financial services. Credit unions, like any other financial organization, must monitor key performance indicators (KPIs) to gauge their effectiveness and success. KPIs assist credit unions in determining their strengths and weaknesses, assessing their performance, and making defensible choices. The important performance metrics that credit unions monitor is covered in this article. Membership Growth One of the most crucial KPIs that credit unions monitor is membership growth. It tracks how quickly the credit union is adding new members. For credit unions to boost income and improve their financial condition, their membership base must be regularly expanded. Credit unions keep track of their pace of membership growth by keeping track of how many new members sign up each month, quarter, or year. Loan Growth By making loans to its members, credit unions make money. Due to the fact that it gauges how quickly the loan portfolio is growing, loan growth is a crucial KPI for credit unions. By keeping track of the number of new loans issued each month, quarter, or year, credit unions may determine their loan growth rate. An important sign of a credit union's financial stability and capacity to provide credit to its members is the growth of its loan portfolio...
Data Quality Metrics" - The data used for a purpose must satisfy its requirements. The quality of data determines how far data satisfies the needs of the purpose it is used. There are several metrics used to determine data quality and it is important to know them. Measuring data quality can be different for each business and it cannot be standardized. But there are metrics that can suit every business and they can choose to give importance according to their requirement. So, here are the top data quality metrics you must know. This is an important factor that determines the correctness of your data with respect to reality. It is measured by comparing the data of a known or verified source. You can choose a source specific to your domain and find out the accuracy of your data. Every information you consider as a data value must be accurate and verified...
Defining Management Scorecards - A management scorecard, commonly referred to as a balanced scorecard, takes an organization's in-the-background strategic business plan and converts it into an organization's daily business orders. Instead of passively working towards company goals, a management scorecard sets the stage for what needs to be done in the future and lays out the plan on how to get there. It accomplishes this goal by "scoring" the business and its employees in different categories which, in turn, allows management to see where action needs to be taken. It provides a framework and enables executives to truly execute their business strategies...
Department of Housing and Urban Development Performance Management - The Department of Housing and Urban Development (HUD) is responsible for monitoring and managing the availability of shelter, and includes a research branch called the Office of Policy Development and Research (PD&R). According to its mission statement, "PD&R is responsible for maintaining current information on housing needs, market conditions, and existing programs, as well as conducting research on priority housing and community development issues. The Office provides reliable and objective data and analysis to help inform policy decisions." To be able to do this, the Office must able to marshal large data sets and present them in a simplified manner using Business Intelligence tools. An example of this can be seen in the housing market reports the Office produces on a regular basis (https://www.huduser.gov/portal/ushmc/hmi-update.html)...
Deploy Performance Measurements Beyond Senior Management - Performance measurements are mistakenly seen as something used by the higher ups in an organization but deploying it onto an entire organization allows for better understanding.Number four, most organizations don’t deploy their performance measures beyond senior management. They look at this as a management tool that is for the vice presidents, the director, and people in higher ranking and get together once a month and look at how we’re doing as a company. But the organizations that have really had success with this have cascaded performance measures all the way down to the very bottom so that the worker, the person who’s doing the front line job, has their own little scorecard to look at to say how am I doing at my job, am I a bus boy or am I the guy doing the cabs out in front of the hotel...
Designing and Using Scorecards - When using a scorecard, what is the recommended timeframe to monitor or measure targets before adjusting them? That brings up a great point, which is you need at least one complete cycle. I don’t know whether that’s going to be a fiscal year, a calendar year, whatever your regular calendar cycle is to baseline. I think one of the things people could go down the road which they don’t want to, is instantly have a target before giving yourself enough time to understand where you are today given your current resource level, given fluctuations that happened during the course of the year, et cetera. So whatever your cycle is, and a solid four quarters at a minimum is needed to baseline. That's because there are usually seasonalities to take into account. One federal agency where we were working recently, they only baselined for a month. But what they didn’t realize was that things changed dramatically towards the end of the fiscal year. So don’t cut it short, give yourself solid four quarters at a minimum to do that baseline work to make sure that you can see the full picture on all the fluctuations that may happen during the course of the full year...
Difference Between Business Intelligence and Performance Management - Business intelligence is a great thing, very simply stated, it means letting business people access and analyze structured content typically stored in corporate databases or data warehouses. Performance management takes it to the next level and actually gives a context for business intelligence. You can’t have performance management without business intelligence. You can have BI without performance management, though. One of the critical pieces of performance management is planning. There are other pieces, too. It includes consolidated and compliance reporting on the finance side. And it also includes things like financial modeling, but if I had to say what is performance management that is not BI? Planning is one of the biggest things because it injects a lot of discipline into an organization to actually draw a line in the sand and say, here’s what we’re going to do for the next planning period. And that actually gives BI context, and says, all right, now I know what I have to track; this is what I committed to. At an individual level, at a departmental level, and at an enterprise level, we’re holding ourselves accountable for that. So that’s a big part of what performance management is all about...
Do you need to have KPIs on a company’s dashboard usage? - Most BI software provide those types of metrics, how many people log in each day, time spent, dashboards or reports created, et cetera. And it is a useful tool for finding your power users and your laggards. You can now even ask you power users to mentor the laggards. Still the process-change approach is necessary to ensure adoption. That means making the tool the required common language at weekly departmental and monthly business review meetings. That way everybody becomes aware that they are responsible for certain of the measures. Their name is right next to them, and they have to make things happen to ensure their results match the expectations for those key metrics. If people aren’t using a particular dashboard or scorecard application, it probably means they don’t perceive anything of value out of it. When you show them their performance, and they realize that other people are seeing these KPIs, it will absolutely drive a behavioral change...