Today’s Business Intelligence Dashboard subject: Balanced Scorecards
Balanced Scorecards are excellent performance communication tools that consolidate executive performance reporting into shared windows for all view the company’s metrics.
Take a look at this screen shot and you’ll see that balanced scorecards use the typical red/yellow/green coding.
This screen comes from a helpful, self-paced intro to balanced scorecards. To download and view the powerpoint presentation, use this link:
Here’s a little taste of the intro:
An Executive Cockpit: Balanced ScoreCards are company-wide performance measurement systems that focus your company on carefully chosen strategic themes. ScoreCards track strategic initiatives as well as operational results in a balanced set of metrics, reported on a Dashboard. Each metric has a “drill down slide” that tells you where you’ve been and are now, compared to your targets. Leading indicators provide “early warning” of where the company is headed – early enough to affect results this quarter. Rather than each Executive having sole access to his/her own data, ScoreCards give the Executive Team a shared window into all corners of the business.
A Tool for Company Focus: ScoreCards are tremendous communication tools, focusing the entire company on executives’ top priorities. Used regularly at middle management, and even “all hands” meetings, ScoreCards keep the entire company aligned on strategy, and prevent any gap between lower echelon and executive priorities.
This “RealTime” Demo: What you are about to see is a composite of best practices from ScoreCards developed for a variety of companies. To protect confidentiality in this demo, we’ve created a fictitious company, called “RealTime”. While the data is fictitious, the metrics and charts are real.