Performance analytics provides the process owner insight into a process’s historical trends and bottlenecks. It helps to identify where improvements are needed. However, the real value of performance analytics lies not in responding to past events but in anticipating and influencing future ones. Essentially, performance analytics can be divided into two types, leading and lagging indicators.
Indicators
To determine if a process or product performs optimally, you can create a performance indicator and apply thresholds. When these thresholds are crossed, an alert will be sent to a designated person. You can also see how the indicator value changes over time. You visualize a pie chart, funnel, pyramid, or line to see the evolution of the process or product’s performance. Using the services of some industry experts like Dealer.com performance analytics can help improve business performance by enhancing the reporting process.
Indicators are used to evaluate the performance of a process or product and can help you prioritize your work. They are composed of scores generated by measuring performance at regular intervals. These scores can be automatically generated from a set of records defined in an indicator source or manually entered.
Dashboards
A business can make better decisions using analytics tools that enable managers to see key performance indicators and trends. A performance analytics dashboard allows managers to quickly and easily determine how to improve their business performance. For example, they can easily see the number of open tickets in their customer support department or how many sales reps are logged on at any time. Daily reports can only tell you so much, and dashboards can provide insights that would otherwise be difficult to get from a spreadsheet.
There are two modes of viewing data in a Dashboard. You can switch between these modes by toggling a toolbar button in the window’s upper-right corner; the graphic changes accordingly when you change the method. The default mode displays data in a historical context. In a real-time manner, the charts and gauges are updated every ten seconds.
Predictive Tabs
Predictive tabs in performance analytics help interpret trends in performance and usage data. This allows you to make better decisions about your infrastructure. For example, you can understand how well your systems perform over time by analyzing predictive data. This information helps you make better decisions for your company. Predictive tabs are also helpful in identifying opportunities and risks. For example, they can help you allocate resources, set I/O controls, and generate recovery plans.
Data Storytelling
A data story is a powerful tool for communicating performance insights to decision-makers. It teaches people how to make sense of big data and helps them make better decisions. A data story has three key elements: data, visuals, and narrative. When done correctly, data stories can improve communication within a team and encourage stakeholder buy-in.
First, you need accurate data. Rather than presenting data in a table or chart, you need to organize it in a story. A story is more memorable if it evokes an emotional response. Moreover, data storytelling helps users recall vital points. Storyboards are an excellent way to organize data. They allow you to turn abstract ideas into concrete plans. Moreover, a data story should be accompanied by an audience’s understanding of its meaning. The audience should actively participate and question the narrative.
