Practical tips on how data can help managers make better decisions

We live in an era of unprecedented access to information, data and modern technologies led by artificial intelligence. Smart and ambitious managers recognise the power of data and strive to incorporate it into their daily practice. Data can help you make better decisions, both at an individual level and within entire teams. Here are some practical tips on how to leverage data to make better, quicker and more efficient decisions.

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These tips were provided by Forbes.

Setting and evaluating KPIs

KPIs, or key performance indicators, are used not only to reward employees but also to improve the overall productivity of the team. Utilise the data at your disposal, such as employee success rates, efficiency, request resolution times or the number of completed tasks, in order to establish and assess KPIs for your team members.

Strategic planning and risk assessment

Every manager should regularly engage in strategic planning and decision-making regarding the future direction of their team. Data, modern technologies, and artificial intelligence can help you determine the best course of action while also assisting in evaluating the risks associated with various options and plans.

Productivity analysis

Team productivity is a crucial factor in workforce management. Ensure you have high-quality and relevant data on both individual employee performance and overall team efficiency. All other managerial decisions should be based on a thorough productivity analysis.

Optimising team communication

Data can also help improve team communication. For example, you can measure the average response time on communication platforms such as Slack, Teams, or email, analyse workflow efficiency for specific tasks and projects, and identify bottlenecks in both internal and external team communication.

Higher customer satisfaction

The success of most teams largely depends on customer satisfaction, whether this involves internal (intra-company) clients or external customers. Data such as customer ratings, complaint rates, CSAT (customer satisfaction) scores, or completed feedback surveys allow you to track customer satisfaction over time and analyse how various team changes impact their experience.

 

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Article source Forbes.com - prestigious American business magazine and website
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