Thinking about metrics
One of the major things that’s happening in the work at the moment is a long-term project and redesigning how we collect, analyse, interpret and action the metrics that are available to us.
The problem we have here is it’s not that we don’t have the metrics, it’s that we have far, far too much data and are at risk of paralysis by analysis.
To take a long period of time, understanding which metrics are the most important to us based around the ‘why’ of our business and our philosophy and what we want to achieve going forwards means that we’ll be in a position to have a ‘dashboard’ that allows us snapshots of the most important things.
The urge is to look at money and money in the bank but that needs to fall way down the list (although it’s important), it’s not more important than many others.
Wherever we see the fundamental basis of our business is where we need to measure.
Team moral and well-being would be a huge metric to measure, patient outcomes is perhaps one of the biggest.
This might seem like a daunting and overwhelming task but it isn’t and it’s easy to start at the simplest possible end and build over time the things you’d like to measure.
Years ago we did this, set up a dashboard of our KPI’s and these were reported every Monday morning.
The business is different now. Things have moved on and the world is a different place so, it’s ok to evolve into metrics that reflect those facts and help inform our decisions moving forwards.
Intuition is wonderful but intuition combined with objective consideration is the golden ticket.
Blog Post Number - 2774