But this shouldn’t be the case! Incorporating KPIs into the daily lives of decision makers to avoid the quarter-end reporting stress can be done in four simple ways. Here’s how:
A great example of this is financial budgeting. Everyone is familiar with hockey-stick spending, which spikes at the end of the year or at the end of each quarter when crunch time kicks in and the “use it or lose it next year” message comes down. The classic approach is to set a budget vs. actual target percentage.
However, that can still lead to spikes if it isn’t done correctly. To avoid this, take it one step further and create smaller incremental benchmarks such as 25% after month one, 50% after month two, and so on. This more manageable cadence will dramatically improve accountability and relevance to a metric that you can use every month rather than at the end of the year.
Reporting doesn’t have to be intimidating. Together, we can end the KPI stress. Together, we can make analytics great again!