One way to improve the quality of data is through the use of key quality indicators (KQI’s). These indicators provide objective measures of the structure, persistence, and locations of data quality issues within the data used to produce information. By developing a specific framework within the dataFaktory, it is possible to create data quality scores and ‘DNA tags’ that can be easily aggregated and historicized. This allows for more accurate and efficient identification of data quality issues and allows for more effective and targeted solutions.
Another important aspect of improving execution is the use of key execution indicators (KEI’s). These indicators measure the distance between the planned trajectory and the realized trajectory of a project or process. By developing a specific framework within a proPilot and dataFaktory, it is possible to create objective measures of execution gaps that are both current (KEI to-date) and future-facing (KEI at-completion). This allows for more accurate and proactive identification of issues and allows for more effective and targeted solutions.
However, it is important to note that the use of these secondary flows, such as KQI and KEI, may increase the perceived complexity of the process. To mitigate this, it is important to ensure that the frameworks are clear, easy to understand, and accessible to all members of the team. Additionally, it is important to provide training and support to ensure that all members of the team are able to effectively use these frameworks to improve the execution of the projects or processes.
The use of Key Performance Indicators (KPI’s) is of course complementary to the use of KEI’s and KQI’s, which do not have the purpose of replacing them. In fact, KPI’s allow us to see if a project or process is reaching its destination. KEI’s help to qualify how it deviates from the path to get there. KQI’s allow to objectively measure the degree of confidence we can have in the information related to them.
By utilizing a combination of KPIs, KEIs, and KQIs, we can gain a comprehensive and insightful understanding of our strategic initiatives. This allows us to proactively manage and course-correct along the way, ensuring that we not only meet but exceed our ambitious goals from the outset. By optimizing our approach, we can maximize the value of our initiatives, paving the way for even greater success. So let us embrace these powerful tools and unleash the full potential of our strategic endeavors!