I’m surprised how seldom analysts are asked for their own interpretation of data.
A few years ago, a major technology company undertook a four year data and metrics consolidation project. It focused on the technology instead of on the people. At the end of the project, the data was in one place, but the interpretations of the data were just as scattered as before this multi-million dollar investment. The results were so hard to navigate and interpret that individual teams kept making decisions in their own silos.
I’ve seen this pattern regularly. Managers and analysts in most companies are deluged with data, but they aren’t asked for their analysis as often as you think. Too often, data is pushed down through an organization but analyses are not allowed to percolate back up. In a recent survey, managers in large organizations were 4x more likely to be enthusiastic about their career growth when they feel like they’re being heard.
I’ve seen a lot of companies take on a major data project or adopt a metrics platform, and the human element is the single most important piece that was missing that could have boosted the project or platform’s return on investment. Data and “pure” data analysis are valuable, but companies can get more ROI and better results by better involving their people. We built CoEFFICIENT® to solve this problem. Our platform lets you:
Highlight the business metrics that matter the most.
In many large corporate environments, their people only have access to complex data dashboards that take a few days to understand and even longer to make decisions on what to do next. CoEFFICIENT simplifies metrics and data visualization, which allows us to…
Make these metrics highly visible and easy to understand.
In one easy to view page, CoEFFICIENT lets you see up to nine metrics in green, yellow, and red. Green means good, yellow means watch, and red means bad. In one glance, you get a picture of how your store and your company are doing. With easy to understand metrics, your people can easily…
Explain and listen alongside the data.
Square Root really believes in the importance and worth of your analysts—the people that work day in and day out with your brand in their individual areas. In the CoEFFICIENT platform, we ask for comments in action plans alongside the metrics. These comments add invaluable and consistent context around metrics, turning them from data into information right there on your screen.
For example, if sales performance at a particular store is red, you can read why in your analyst’s notes. Maybe a store’s top salesman is on leave, and he will be back in two weeks. Maybe the store manager has left his position, and they’re working on a replacement already. The why matters and impacts what action plan comes next.
With easy to understand metrics and your people’s analysis, your company will soon…
Align everyone to positive, important performance-improving action plans.
With CoEFFICIENT, you have all information at hand to create action plans and boost KPI performance. The platform’s action plan tool helps you to view and participate in conversations taking place between your store, field, and corporate managers. In these conversations, you can actually see your company aligning as corporate understands what is happening at the store and field level and vice versa.
Because your people matter, we take extra care fitting our technology to your company and your people. We call this the Continuous Value Delivery process. It consists of four major steps:
- Discovery: In this stage, we learn roles and goals. This is all about getting to know your company. What are your goals as a company? What are the most important goals for managers? How does your company and people define success? How do these motivate (or not motivate) staff?
- Story-telling: Looking at the roles and goals of your company, we turn data into a story that everyone can understand and use. Within your CoEFFICIENT platform, we boil down to the KPIs that matter the most. We deploy statistical and machine learning techniques to hide complexity, not filter it. Drill downs to more detail are always available when you’re ready to learn more. If the story isn’t clear after a few minutes, it’s not clear enough.
- Impact: We learn what is helpful, and we improve what doesn’t quite make sense. We align your people and the technology, so they all work together.
- Amplify: With a platform that works for the initial users, we roll it out to the field and see what additional changes we need to make. We monitor usage, tune focus metrics, and continue to tailor the platform to your company and your users. As performance in the business unit improves, further adjustments are inevitable and simple to make.
At every step, we consider what the human element brings to CoEFFICIENT.
Here at Square Root, our data science team has a diverse range of backgrounds from economics to physics—from the academic to the corporate world. They’re constantly improving the data process for our customers, writing new matching algorithms, understanding outliers, and introducing new ways to look at old problems. By adding the human element to data in CoEFFICIENT, we help companies improve their KPIs. Read more about our customer success process.