The last time you designed a scorecard for your financial users or designed dashboard for the investement bankers, you must have been thinking, what the heck did they do with it ? Do they actually read the monthly metrics generated ? Has your intutive design helped them in making business decisions. Worry not. It did, It did much more than you thought it would. And here’s why -
Following up on the number-one business driver, our study found that scorecards and dashboards are effective in helping companies achieve alignment to goals and strategies. Only about half of the respondents reported that before using them they were effective in achieving performance alignment, but after adopting them more than 80 percent said this (see Figure 2). Backing up this finding, less than one-fifth of respondents said they have difficulty quantifying a clear ROI or finding room in their budgets for these initiatives. This seems to be a positive endorsement because these two challenges are often the biggest hurdles to deployment of new software applications.
In other areas of effectiveness, however, responses were mixed. Strong majorities of scorecard users reported that they receive the right amounts of information on achieving company goals and objectives (78 percent) and concerning business unit performance (79 percent) (see Figure 3). A smaller but still substantial percentage of respondents (61 percent) said that they receive approximately the right amount of information on leading indicators about company health.
Keeping Score has more of this survey results.