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|8th April 2014
This post was written for Blue Latitude Health by optimisation expert Alec Cochrane.
A few weeks ago, two hundred analytics folk from all industries met in London for MeasureCamp. Now in its fourth iteration, this unconference aims at getting large numbers of practitioners and experts together and then letting them present, discuss and debate their analytics knowledge with others in the community. The conference organisers, (including me), set up the venue, provide the sponsors, ensure everyone is fed and watered and - through strict timing - make sure the day runs smoothly whilst the participants provide all the content.
The rules are simple:
This year for the first time, we also organised a series of training courses for the day before the conference aimed at those with experience of analytics but looking to learn more. I ran a training course on business objectives and KPIs, where I took the users through the ways that Blue Latitude Health create a measurement framework by identifying business objectives, critical success factors, and KPIs.
In this methodology, the resulting KPIs directly relate to the things that the business is trying to achieve, rather than just ‘shoehorning’ metrics that the analytics tool produces, as a standard, into slightly obscured tactics. This not only allows you to show that your KPIs represent business value, but also highlight the ways that your company is achieving their objectives in a visual representation. This stops people from producing their own KPIs that don’t represent an overall business objectives, and can often help identify where tactics are missing the purpose of the organisation or just missing altogether.
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