I doubt anyone would argue with this point — we are all still looking for best practices in the evolution of Big Data metrics and utilization. For all leadership and management
Excerpt: Big data is great. But we should consider that we’ve actually had more data than we can reasonably use for a while now. Just on the marketing front, it isn’t uncommon to see reports overflowing with data and benchmarks drawn from millions of underlying data points covering existing channels like display, email, website, search, and shopper/loyalty — and new data streams such as social and mobile engagement, reviews, comments, ratings, location check-ins and more.
In contrast to this abundant data, insights are relatively rare. Insights here are defined as actionable, data-driven findings that create business value. They are entirely different beasts from raw data. Delivering them requires different people, technology, and skills — specifically including deep domain knowledge. And they’re hard to build.
Even with great data and tools, insights can be exceptionally tough to come by
Read full article via Metrics Are Easy; Insight Is Hard – Irfan Kamal – Harvard Business Review.
This is a reprint and review well worth your time but this is not a light read — recommended for those charged with the responsibility of deep understanding and forwarding business governance. It delves into the detail of why and how-to, history and metrics.
Excerpt: We review accounting and finance research on corporate governance (CG). In the course of our review, we focus on a particularly vexing issue, namely endogeneity in the relationships between CG and other matters of concern to accounting and finance scholars, and suggest ways to deal with it. Given the advent of large commercial CG databases, we also stress the importance of how CG is measured and in particular, the construction of CG indices, which should be sensitive to local institutional arrangements, and the need to capture both internal and external aspects of governance. The ‘stickiness’ of CG characteristics provides an additional challenge to CG scholars. Better theory is required, for example, to explain whether various CG practices substitute for each other or are complements. While a multidisciplinary approach to developing better theory is never without its difficulties, it could enrich the current body of knowledge in CG. Despite the vastness of the existing CG literature, these issues do suggest a number of avenues for future research.
Read full article via Corporate governance, accounting and finance: A review – Brown – 2010 – Accounting & Finance – Wiley Online Library.
Another model used for intelligence based systems. A basis of formula to determine the probabilities given the components. Is also used in training and other metrics. Management
Excerpt: Summary: The GOMS Model is a human information processing model that predicts what skilled users will do in seemingly unpredictable situations.
Originators and proponents: Card, Moran and Newell in 1983; Bonnie John et al.
This model is the general term for a family of human information processing techniques that attempt to model and predict user behavior. Typically used by software designers, a person’s behavior is analyzed in terms of four components:
Read full article and lists of additional research via GOMS Model (Card, Moran, and Newell) | Learning Theories.
This is an interesting read, written with stats and opinion on Australian nonprofits, I believe the same picture emerges in other countries as well. Small business good read.
Excerpt: …. for charities that have broader remits, such as fighting world poverty or tackling the homeless problem, social impact is harder to gauge.
Hems says the problem lies in the lack of “market intelligence” and benchmarks for not-for-profit directors to follow. “Whether or not you are delivering on the social mission is incredibly complex to measure – there are no comparative metrics,” he says. For example, members of the board of a homeless charity would have little idea of performance, unless they examined the annual reports of similar charities and had access to evaluations of the programs they operate. “It is a huge measurement challenge – and sadly the focus for not-for-profit sector boards is still on the narrow measurements around financial sustainability and compliance,” says Hems.
Read full article via Not-for-profit Governance: Rising to the Accountability Challenge – Knowledge@Australian School of Business.
Event in San Francisco on September 17th requires registration via link below but is free to attendees. A source of innovation if you are currently in the subscription business, plan to be or simply want to explore the possibilities, this event looks interesting.
Excerpt: In the last 10 years, there’s been a dramatic shift in the way both consumers and companies want to do business. Today, people would rather subscribe to services than buy products. And enterprises are recognizing the immense business opportunity in moving to the “Subscription Economy. ” It’s happening everywhere. And it will have a dramatic affect on the way you interact with customers and run your business.On September 17th, Zuora brings together Subscription Economy thought-leaders, industry experts, and Zuora customers for an in-depth discussion around the future of business and how Zuora can help you succeed. It’s our vision that everyone attending Subscribed 2012 will walk away with at least one new idea that will impact their subscription business, such as:
New revenue and growth strategies
New ways to automate your business process flows
New metrics to drive better business decisions
We’ve formatted a truly unique event where all who attend will leave with innovative approaches for business initiatives and new industry connections. If you currently have a subscription business, are considering launching one, or are currently in the process, you cannot afford to miss Subscribed 2012.
Registration required via SUBSCRIBED 2012 – Eventbrite.
This sounds like a cool help for startups. Any of you try it, please let us all know how you rate.
Excerpt: Max Marmer is trying to increase the survival rate of young companies. His weapon: a database of metrics on tech start-ups world-wide.
The 21-year-old Stanford dropout is the founder of his own start-up, an online benchmarking service called Startup Compass, based in Palo Alto. The data enables start-up founders to figure out how their nascent firms compare with others in areas such as customer acquisition, Mr. Marmer says, and to diagnose whether their companies are at risk of pitfalls that can doom them to failure.
Read full article via Service Helps Start-Ups See Where They Stand – WSJ.com.
GBS as the business model. Small business takeaways. The how-to of metrics and measurement to the performance model. Good read. Leadership and managment
Excerpt: A compelling business case is driving more and more enterprises toward a global business services (GBS) model. Building a mature, value-producing GBS organization requires many integrated elements and practices — one of the most critical being the ability to measure and monitor performance in order to guide continuous improvement. The Hackett Group’s recent survey found that, while GBS executives recognize the importance of monitoring performance, most are still struggling to move their metrics and measurement capabilities to the next level.
Read full article via Global Business Services: A Way to Improve Internal Services | Business Finance.
Okay, so now you are into really building your teams for results. How-to measure metrics to determine your success or need for more work? Here is another read of tips and advice of just how to do that.
Excerpt: KPIs are metrics that link organizational vision with individual action. If you think of strategic practice as a pyramid, as shown in Figure 1 below, with vision at the top and actions at the bottom, in the middle you find the KPIs that have been derived from the strategy, objectives, and critical success factors of the organization.
Read full article via Performance Management and KPIs – Team Management Training from MindTools.com.