By Dave Homer
Have you ever served in a management or Board position of a ministry (or even a business) and been overwhelmed by the volume of data presented for review? Those “data dumps” can consume a lot of time and energy. Most discouraging is realizing that the time spent plodding through data could have been better spent focusing on the real drivers of success. Of course, Boards and management have a fiduciary responsibility to review financial statements and need to do so. However, their time is better managed if key metrics are presented along with the financials. Metrics can highlight real issues and trends (positive or negative). One well-conceived graph can show at a glance how the organization is performing in the most important drivers of success.
Large businesses have been developing metrics “dashboards” or “scorecards” for years. Ministry organizations and small businesses can benefit from them as well.
David Homer is a Business Intelligence Consultant providing senior level financial services to non-profit organizations and medium – small businesses, including performance metrics, trending analysis, budgeting and forecasting, modeling, profitability analysis, and asset allocation. He can be reached at email@example.com.