A breakthrough in the measurement of performance potential.
How to measure performance?
What gets measured, gets managed, but how to measure performance? That includes the ‘soft’ stuff of people and culture, as well as the ‘hard’ stuff of targets and strategy-execution.
It is vital to bring objective analysis and external measurement to any questions of performance. However it is not easy.
When it comes to performance opinions very widely, with issues of personalities and politics often coming to the fore. Arriving at a shared view of reality is the job of Pitstop Analytics™.
The ‘Holy Grail’
What about Performance Potential?
Any analysis of performance is incomplete if it only looks backward. To be useful it must address the potential for future performance, called Performance Potential, and show how to un-lock it.
However if measuring Performance is difficult, then measuring Potential is even more difficult still. You could call it the ‘Holy Grail’ of Performance Management.
A World First:
Performance Potential – A Breakthrough
Pitstop Analytics™ is the first in the world to measure Performance Potential.
It scientifically determines the percentage of your organization/team’s full potential being exploited.
Moreover, it identifies (and then quantifies) the specific factors (called performance losses) that are holding an organization, business unit, leader or team back.
But how to measure what an organisation, business unit or leader/team is capable of?
A Global Inventory of Performance Losses & Gains
To measure performance potential we have build the world’s first global inventory of performance losses and gains.
There is not just one cause of, or solution to under-performance. In fact there are almost 200 – or 186 to be precise. That is the number of performance losses identified by our research across 12 industries and 47 markets. Each has the potential to be transformed into performance gains of up to 25%.
Leveraging BIG Data to Measure & Maximize:
A unique and powerful way of measuring not just performance, but performance potential for organizations, business units, leaders and teams.
Is your organization or team getting the most from its people? What is the level of engagement, motivation, teamwork and so on? Where is the potential for development?
Assess growth performance & potential, including probability of meeting revenue / profitability targets and percentage of growth potential being exploited.
Assess the performance & potential of leaders and their teams, incl. engagement, talent, behavior, strategy & execution.
Measuring & Modelling Performance:
What variables are analyzed?
The PitStop Analytics platform scientifically measures performance and potential within organizations, business units and teams based on the powerful Pitstop Meta-model™, including:
Return on Collaboration
In total a total of 186 performance-related variables are measured. So the above is just a short list of the many factors analysed.
BIG Data for Performance
Pitstop Analytics bring the power of BIG data to the performance of organizations, business units and teams.
Captures data on 46 performance parameters and 140 performance variables to:
– Scientifically calculate your organization or team’s P2P Metric™.
– Systematically scan for performance losses, risks, and gains.
Data gathering is cloud-based and takes just 26 minutes per person. Once the data is gathered algorithms and predictive models take over.
Inspired by BIG Data in F1™
F1™ has pioneered the use of BIG data analytics to drive performance. During the race sensors on the car generate a continuous stream of BIG data. Predictive models and data visualization techniques are essential to transform data into actionable insight.
Pitstop Analytics™ brings F1™ BIG data principles and techniques to the performance of leaders and their organizations / teams.
Powerful Predictive Analytics
An accurate diagnosis is key to understanding performance. But looking back at what has happened is not enough – looking to the future is essential.
Pitstop Analytics combines accurate diagnostics with predictive modelling, thereby providing insight to both present and future performance.
Big Data Visualization
Pitstop to Perform™ analytics extract meaning from masses of data by modelling performance. Using the pitstop meta-model the data is brought to life and tells a story.
Users can visualize their performance data in an intuitive manner. Patterns and trends are automatically recognized, and attention drawn to alerts, blind-spots, and contradictions.
Data is transformed into actionable insight – pointing leaders and their teams to key winning moves that will transform performance losses into gains.
Calculating Your P2P Metric™
Pitstop Analytics™ scientifically measure your organization/team’s P2P Metric™ – that is the ratio of performance to potential for an organization, business unit or team.
This is a key piece of performance data that enables:
– Measurement, adjustment & monitoring over time.
– Internal and external comparison / bench-marking.
Find out more about the P2P Metric™ and why it matters here.