Performance Insights are Medicine for Your Business Health
Research finds performance insights to be uniquely valuable: the more you uncover, the better informed your business decisions are.
Although the process to gaining performance insights has a reputation for being time consuming and cumbersome. It’s unparalleled in the ability to identify areas of improvement, understand customer behaviour, and make data-backed decisions. With performance insights, businesses can unlock a wealth of information that can drive growth and efficiency.
Still not convinced performance insights improve business health? Below I have listed 4 benefits of using performance insights, and how insights improve business health and can be used to assess business health.
Clarity of Direction
Performance insights give a company clear direction. Leading to a reduction of confusion, inefficiencies, and missed opportunities.
You’ll better understand how you spend your time and what activities have the bigger influence on your businesses success. Helping you avoid distractions and prioritise tasks based on their impact on performance, which will boost productivity.
Enhanced Decision Making
Regularly using performance insights to measure your progress means you’ll have the information you need to make more informed decisions.
By identifying what’s working and what’s not. Decisions will be informed by evidence for adjustments that can be made to build on current performance. So actions will drive better results to deliver on long-term objectives.
Increased Motivation
Tracking your progress over time can be incredibly motivating, helping you stay focused on the big picture. And help you assess the validity of your initial planning.
Performance insights will help you confidently identify further areas of opportunity, to keep the momentum going as you progress. That were not as obvious to you when you started.
Reasonable Accountability
Performance insights help to keep people accountable for what is within their control.
Goals can be objectively measured to feedback on why something did not work, in the context of the longer term goal. Not just what did/didn’t work. Keeping you focused on what’s important and avoid spending too much time completing subjective low influence tasks.
The more frequently your performance insights are reviewed, the greater the effect on easing concerns about whether or not you are progressing successfully towards your gaols.
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