With the Royals entering the World Series for the first time in 29 years, I have been reading and following baseball more than I care to admit. Daily Wall Street Journal articles, twitter feeds, and Facebook updates fill my inbox. It is difficult not to get caught up in the excitement. Outside of the strange article I recently read about two men whose attire includes a wrestling singlet with a giant cat picture on the front, almost all of the articles refer to statistics. They are everywhere! How hard did the pitcher throw on average the previous night? What was the velocity by which a certain batter hit a ball? How fast (or slow) did a base-runner scramble to steal a base? The stream of statistics is endless! There is even a term for all of the analysis – Sabermetrics. As defined by Wikipedia, this is the empirical analysis of baseball, especially baseball statistics that measure in-game activity. Who knew!
Good coaches and good managers surround themselves with these statistics in evaluating current performance but also predicting future trends. This is no different than what can be said of valuable analytics provided through dashboard reporting for a company’s owners and managers. A dashboard report goes beyond typical information found in your financial statement and provides valuable information that can be used to manage an organization. Typically a dashboard report compares a company’s results against industry ratio’s and metrics. These analytics quickly show where the company needs to focus and improve performance to impact bottom line success. Additionally, these analytics that are based on past performance, when evaluated and utilized properly, can assist in predicting future performance.
Good decisions come when good information is provided and sufficiently understood. MarksNelson offers assistance in developing dashboard reporting, analyzing the results and working with our clients to develop strategic objectives. We want to help our clients get on their mark. For more information about dashboard reporting or other services, contact MarksNelson.