The management information system, business intelligence or performance Indicators, which are available for the leadership team are of comparable importance as the aircraft's cockpit instruments to the pilots, hence referred to as the Enterprise Cockpit.
It is essential that the company's performance information provided to the leadership team gives transparency on the current status and expected future development of the relevant metrics which determine whether the leadership team can reaffirm themselves that the company is on the right track to reach the desired goals or whether corrective actions are needed.
The company’s owner or investors will also require reporting on other performance targets and measurements. This can cause that the available management information to the leadership team at times can be overwhelming and reduce attention to the relevant key metrics and key ratios.
The relevant management information and performance indicators will consist of data points measuring the dominant external influencers of the project or strategic goal, and data points indicates to what extent the core actions or processes are executed satisfactorily. Those combined will tell the leadership if corrective measures are needed either to improve internal execution or adapt to external changes in order to achieve the goal.
When creating focused relevant management information, it is also important to define indicators that measure the actual actions that lead to the desired change. It could be "First time fix" or case processing time to improve customer satisfaction, call per agent, time per call in a service desk to improve profitability, etc.
In most cases, companies already have the necessary data. It is therefore a matter of defining the right data points to collect, building a transparent reporting, solid analysis and an integrated forecast process to create focused relevant management information.
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