Ownership Tools: Business Intelligence

Ownership Suite: Concepts and Tools

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Business Intelligence and Meetings

In the materials here we share the most essential takeaways in getting the numbers that matter visible and interpreted for action. To this end, we offer the list of the most important metrics to track.

Once these numbers are being tracked, it’s important that you and your managers are able to hone your awareness of how these numbers correlate with the behavior of the practice. This means a reporting structure. Meaningful trends take some time to develop, but movement in the metrics can be an early indicator of what those trends are shaping up to be while you have time to influence their development. This awareness also leads to setting better and better benchmarks and goals.

While 30 days’ or more worth of information will definitely give you something to infer from and act on, a shorter feedback cycle has an important benefit: it focuses your awareness and trains your intuition, and keeps you and your management team in constant touch with the pulse of the practice. Getting your hands and heads around these numbers at greater frequency and using them to make decisions is crucial to informing actions that lead to the outcomes you desire.

In short, a meeting structure that works well is comprised of Weekly, End of month, Quarterly Team Feedback, and two Biannual Policy Review and State of the Practice meetings.