‘There are known unknowns and unknown unknowns…’ said Donald Rumsfeld famously. Now, I never imagined I would quote the former US Defense Secretary, but why not? Regardless of what side of the political fence you are on, you could argue that he is a poster-boy for flawed decision making! Regardless, it helps in explaining what we do and why it matters.
We have been working to tackle both known and unknown unknowns in decision-making by senior managers. Specifically we have been using the power of big data analytics and algorithms to measure what was previously un-measurable. Examples includes new metrics such as:
Return on Collaboration™ – which measures the effectiveness of internal collaboration and its impact on performance, innovation and employee engagement.
Return on Talent Employed™ – which measures the effectiveness of an organization at converting talent into business performance and in particular its ability to unlock the talent, creativity and skill of its people.
To our great delight such future-focused KPis are slowly beginning to find their way onto management dashboards. They appeal to managers concerned with the sustainability of performance, growth and innovation.
These new metrics or KPPIs tackle some key unknowns, tacking important blind-spots and illuminating a range of powerful new options/strategies. They are metrics for a VUCA world where the future of work and business promises great change, even disruption.
KPIs – everybody has them, but in an increasingly fast-changing world, indicators of today’s (or yesterday’s) performance are not enough. The sustainability of performance in a VUCA world requires more future-focused KPis – indicators that don’t just measure ‘what is’ but also ‘what could be’. The next generation of KPIs measure performance and potential or performance potential. That is why we call them KPPIs – Key Performance Potential Indicators.
Adding the extra ‘P’ (for potential) to your KPIs can really broaden your perspective as a leader, tacking important blindspots and illuminating a range of powerful new options or strategies.
So, if as a leader you have unknowns about the present performance or future potential of you organization, business unit or department contact us at firstname.lastname@example.org.
Pitstop Analytics ™ leverages BIG data analytics, to measure, model and unlock the performance potential of ambitious business units, leaders and their teams.