Measurable Goals and Performance Metrics:
Why is it so hard to do and well ?
By Yohan Albo
A few months ago, I left Oracle, where I was managing the largest R&D site in Israel, to launch a consulting firm which specializes in Data-driven decision making and Data strategy.
As part of my business development efforts, I had a record number of meetings with company executives in Israel, France, Switzerland and Canada.
I was honored to have met extremely capable and dedicated persons willing to become or continue to be successful with their company.
We discussed some of the “challenges” that keep them up at night: the fast pace of business changes in their industry, the fear of being disrupted at any time, their sub-optimal positioning in the market, their churn rate, the lack of effectiveness of their marketing and business development efforts, the new product/service that was just launched by a direct competitor, the limited ROI seen on their data infrastructure so far, the continuous fear they are missing something big, and more…
Out of all these various discussions, we’ve often discussed their difficulties in setting measurable goals and implementing formal performance metrics internally.
This could be explained by 2 main factors in my view:
Fear of public failure
Communicating and committing on a measurable goal and risk not meeting it, which can hit hard on the blood pressure of a leader.
The perceived lack of time
The perceived lack of time to even think strategically about the company’s future due to the hard time they have coping with day-to-day operations.
These 2 factors fuel what I call the spiral of stress… leading to the spiral of no action (or spiral of non-important actions, you choose).
Taking care of these two issues is essential to success because removing the “spiral of stress” gives space to clear informative logical and even confident decisions. When you have the tools to make decisions in confidence these fears no longer apply.
This is why having support from an experienced data-minded external party can be of great help for decision makers in any organization.
At DataToCapital, we support individuals and executive teams to take time analyzing situations objectively, help them in reaching optimal business decisions based on firm data, and enable them to monitor the actual performance based on objective metrics leveraging the best software solutions in the market.
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DataToCapital is a boutique management consulting firm that supports global tier-1 firms and start-up companies operating in Israel in their route to excellence and market dominance. Our core services, designed for CEOs, Executives (VP-level and above) and Entrepreneurs, can be divided into three areas: Market Intelligence, Corporate and Product Strategy, and Execution Support on top-down strategic initiatives.
The quality of the work we deliver in the three areas mentioned above is equivalent to what your company may already get from the top-3 consulting firms that operate in the Israeli market, BUT here’s the twist and why our tier-1 clients think we are superior.
We don’t only provide smart recommendations, we work closely with the management team and can also support driving the execution of their strategic initiatives behind the scenes or as a proxy.
We are at the strategic intersection of Business and Technology. Thanks to our rich background, we know how to connect the dots between the two worlds, and how to be very creative when it comes to disrupting business models or addressing sub-optimized processes with the help of advanced technological solutions (Machine Learning, Big Data, Data Visualization, Enterprise Software Solutions, and many other tools present in our toolbox).
This is a built-in feature.
No account manager, no complex communication chain, etc...
This is why our firm aims to dominate the management consulting market in Israel with no more than eight talents (...on steroids).
Our long-term vision is to become the trusted advisor to the most influential businesses and institutions operating in Israel, and help them become global leaders in their markets.