“The truth is rarely pure and never simple.”
This is a great quote by Oscar Wilde, an Irish poet. Fitting, as today is St. Patrick’s Day 2017. True, in Oscar’s day, there were no EAM systems, let alone poor data from lack of EAM process integrity. But the sentiment still holds true: According to our customers, truthful data, or Trustworthy Information as we call it, is rare and not simple to achieve.
Over the years we’ve tried harder to find ways to continuously improve our operations and processes, including identifying how to measure performance, and implement initiatives to help us meet our objectives. But as Oscar would attest, our efforts and our findings can be impeded by measures that are not ‘pure’. You should ask yourself key questions to learn the truth of your own EAM processes and data:
- Are your processes defined in such a way that you can easily measure compliance and process integrity?
- Do you have clear and communicated expectations of the results of your processes, relative to data expectations?
- We classify measures associated with these expectations as Data Confidence measures.
- If your processes lack integrity, can you confidently use the resulting data as a basis for measuring performance?
- Have you identified the correlation between your strategic objectives, the measures (KPIs) used to evaluate performance toward those objectives, and the ability of your data to calculate those measures?
- We call a measure of data’s ability to calculate performance a Data Quality measure.
- Is poor data quality keeping you from effectively measuring performance?
- Do you have a systematic approach to address data quality and confidence problems?
- Do you have a mechanism in place to sustain data quality and confidence?
Trustworthy Information is a critical barrier for organizations that struggle with measuring performance. While pure truth is not simple, there is an approach to quantify, systematically address and continuously sustain data quality and confidence.
Our Propel Performance Management solution begins with assessing the level of trust you have in your data, meeting your organization where you are to ensure that the information you are using to dictate your decisions is healthy and accurate.
Visit our Performance Management Resources page to download our infographic "5 Ways KPIs help you Achieve Operational Excellence and Balance Performance Management, and view additional resources.