The dawn of big data and the accompanying upsurge in data analysis solutions designed to put that data to use has provided company executives with a wealth of information relating to maximizing employee efficiency. What many company leaders don’t realize, however, is that putting this data to work doesn’t mean making their employees work harder – instead, its most effective use is often to enable them to work smarter. Data analytics software can perform a wide variety of analyses, so taking the time needed to come up with an effective strategy for putting the insights it generates into effect is highly recommended. The following suggestions are designed to help you make the most of this data by using it to empower your employees to work smarter and improve productivity.
Determine the Type of Data to Collect
Not all data is created equal. Before collecting data, analyze your employee touch-points to help you decide what is the most relevant data available to you. The first thing to examine is how you interact with your employees. Do they typically log their time spent at the office or on specific assignments? Do you commonly solicit feedback from them? How about outside partners? Do they provide you with data relating to firm or employee performance? If you are already gathering data of this type, it’s a simple matter to include it in your analysis process.
When choosing what data to use, make sure to ask what purpose the data will serve. It can be counterproductive to collect data just for the purpose of collecting data. Try to link each data point you include in your analysis to an action item enabled by collecting that piece of data. Data that doesn’t have any discernible use is not worth collecting.
You should also look into how each data point will be collected. If you are using a central system to ingest all data, can that data easily be entered into the system? If not, and it’s not clear that the data is all that essential, you may want to consider using another data point that is easier to collect. Additionally, you should consider how the data is being collected from person to person and department to department. If different processes are being used, that must be accounted for by your data analysis software. Properly selecting the data you utilize is crucial when it comes to gaining useful insights from your data analysis efforts. Make sure the information you collect is of the highest quality possible to boost the quality of your insights.
Consult with your employees and managers about what data is most likely to provide actionable insights. This helps ensure that you don’t miss collecting valuable data points that you might have otherwise missed. You should continue to get input from people within your organization on data collection sources on an ongoing basis to determine if any new data points should be added.
Be Systematic about Your Data Collection and Propagation
If your data is scattered between various silos, or fragmented data repositories, making the most of it can be difficult. To optimize your ability to gain insights from your data and to act on those insights, prioritize systematic data collection and processing. Doing so means that your managers and employees can easily track the progress of the projects they are working on to enhance their ability to complete those projects as efficiently as possible.
Systematically collecting data enables rapid dissemination of the insights gained from your data to your employees, cutting down on time that would otherwise be spent integrating data from different silos into a single report. Business management software that harnesses the power of data analytics can provide a convenient means of organizing the data collection and distribution process.
Connect Data to Produce Insights
Your data analysis software should be able to link various data points to help produce insights that you aren’t able to realize by considering the data separately. For instance, when analyzing product mix, the product with the most sales revenue is not necessarily the biggest contributor to the bottom line. You also need to know the cost of goods sold to identify which product is most profitable for the company.
When setting up your business management software, make sure that you investigate which data sets to link to for more advanced insights into your business. This should include both quantitative and qualitative data, as well as employee and customer-related data. You should aim to have as many data points as possible, as long as they are relevant, for each case you analyze.
Provide Real-Time Data
Attempting to track your organization’s data using Excel spreadsheets often falls short of what is needed to enable your employees to make the best use of the data you collect. For more complex tasks, if at all possible, look for a data analytics software tool that enables you to report data in real-time. Such software typically includes a dashboard user interface that provides easy-to-read reporting of the main metrics pertaining to your company’s operations.
Such dashboards often display what are known as KPIs (key points of interest) to allow your managers and employees to see at a glance the progress that is being made on the tasks they have been assigned. By tracking KPIs, your employees can view the most vital data points relating to your company’s business, helping them determine which tasks to work on and when to work on them. These indicators may include overviews of the following:
- Progress made to date
- Expected completion date
- Product growth rates
- Milestone dates
- Resources available
Act on Data-Driven Insights
Once you’ve selected your data and linked it to other data points to generate advanced insights, use what you learn to make plans to improve your employees’ ability to perform their tasks. This data can help you discover patterns your employees follow when working. Once you have a clear understanding of these working patters and how they fit into your company’s culture you can use that to create an optimization plan that uses the insights you have gleaned to improve employee efficiency.
To facilitate this process, the use of workplace collaboration tools is recommended. These tools can include task management and remote communication software that helps your employees share insights on joint projects and stay in touch even when they are not in the office. Using technology to gain insights into ways to design productivity improvement initiatives around your workforce’s habitual working habits improves your chances of successfully introducing meaningful change.
Transforming the Workplace
Linking data analytics driven insights to modern productivity technology enables you to transform your company by encouraging your employees’ development and ability to work efficiently. Combining big data and insight-driven analysis offers your company the ability to substantially boost company performance in the following ways:
- Spur innovation
- Boost revenue
- Empower employees to be more productive
- Enrich the employee experience
- Enhance company reaction time and flexibility
- Improve efficiency
- Improve employee retention
Nuvro is a robust online project management tool that helps keep track of your data-driven insights and improve employee efficiency. With Nuvro you can gain control and peace of mind over all of your projects, tasks, team members, workload and everything else important to your company. In addition to the project, task and collaboration features found in most PM tools, Nuvro also provides a company dashboard, a team dashboard, team member performance reviews, secure document management, an internal alternative to email and more. Nuvro is perfect for busy teams looking to accomplish more. Learn More…