DATA AT THE CENTER ... the facts that inform everything
Data measure facts ... nothing more or less. Data are used to inform understanding, and from there to inform decisions. The timeliness of data is important ... the faster the better. The cost of data should be as low as possible without compromising its utility. The data should be relevant ... which is more important than either volume or precision.
|
SUMMARY REPORTING showing top line progress
Periodic summary reporting is required for all stakeholders. It is normal for the C-suite top management, the Board of Directors and financial investors to get summary reporting of corporate financial performance periodically because this has been the central focus of economic and political thinking for a long time ... but equally relevant summary reporting should be the norm for social and environmental performance and for all stakeholders including people who are consumers or workers or others in any way impacted by any economic activity.
|
DETAIL REPORTING that enables performance improvement
Detail reporting is required so that everyone involved with operations has the information they need on a timely basis to understand how the operations are performing and what can be improved. It is this detail that enables peformance improvement. Data must be relevant to the people who have the responsibility and authority to makes the changes that will improve things.
|
FEEDBACK ... relevant data pushed throughout the system
Feedback is needed to learn whether performance is being improved or not ... and if not ... why not? Feedback enables corrective action to be taken. Feedback should be fast in order to be useful. In a well functioning system corrective action is taken before any summary level reporting will see any dysfunction.
|
