More than ever we have the ability to collect all forms of data. The question that you have to ask yourselves is what value can you generate from extracting the data?
Far too often we extract data in large quantities without the consideration of how best to utilize the information to enable any lasting improvements that realize value. Clearly, more is not always better. Despite what leaders might suggest.
Think about it, in many cases we seem to enter into the analysis paralysis by generating data that sends us into the minutia of data caverns. The challenge we often are faced with is finding something that gets us to make some measurable improvement.
We need to ensure that the reporting we are doing cascades from a purpose, to objectives, to indicators to metrics.
Why are we even bothering in the first place? It is in the purpose that we think about what we are even trying to achieve.
What does success look like? Depending on who you talk to they might say that objectives could sound the same as critical success factors. In that sense the objectives are a breakdown of the purpose into chunks that we will need to act on as an organization to achieve the purpose.
This is where we start to break this down to something measurable. For example what measurable indicator would tell the story of success that would realize an objective? In some cases there may be a few indicators for an objective that work together, but they all work back up to the purpose.
This is often what people talk about when we speak about reporting, the ‘how many of this thing happened last month’. In my opinion, this is why reporting never truly realizes value or achieves the purpose as it only really exists here in the day to day metrics.
To be truly successful having an organizational outlook on your goals cascading down from the purpose is essential to being successful.
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