The business-value dashboard (BVD) could be your hidden gem. It’s one of the prime ways you can create those “aha!” moments you and your team treasure, creating value with its use and facilitating self-discovery.

Instead of just presenting raw numbers as a traditional dashboard would, a BVD focuses on the bigger picture: The business value of your company’s performance. While a typical dashboard might measure downtime, a BVD focuses on how that downtime affects the business’s revenue.

When you’re measuring every daily action around the value it creates, your organizational culture evolves to support those value-driving actions.

Here are a few steps you should take when implementing a BVD:

1. Find your focus

According to Gartner, 90 percent of organizations that fail in their BVD programs do so because they deploy the wrong tool. But the real reason they fail is that most companies don’t spend time figuring out their focus before implementing the tool.

We’ve become so wired to view dashboards as quantitative and operational that it’s hard to shift our mindset to what we want that dashboard to help us accomplish. Identify your goals first, and you’ll be able to build the right program to help you achieve them.

2. Ask the right questions

To implement an effective BVD program, you need to know where you are now and where you want to be in the future. Get into the practice of answering these questions as a team:

  • What type of company do we want to be?
  • What are we passionate about?
  • What does our culture look like?
  • How do we want to be seen by others?

3. Customize your tool

With those answers in mind, it’s time to build a customized dashboard to fit your needs. Your company is unique, so the BVD you implement should reflect your unique values. For instance, my company helps other companies find their differentiation through analytics. So, we have our own values-based dashboard that also becomes the launch pad for discovering and enhancing our clients’ values.

4. Use your BVD to cultivate your values

Once you have your dashboard program in place, you can use it to cultivate and share your values with the world. Salesforce, for example, has customized its model to embody its community values by giving 1 percent of its time, 1 percent of its equity and 1 percent of its products to the community. How will your company act on its BVD program?

Implementing a BVD doesn’t have to be scary. When you approach the program thoughtfully to keep your company’s unique value front and center, you’ll be able to act on things that enhance that value. Then you can truly embrace those “aha!” moments.

https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2015/02/implement-an-effective-business-value-dashboard.html