Devising KPIs based solutions for Data Records and Management Process

There is no denying the fact that ‘Data’ is invariably a treasured possession for any organization, be it be a large global conglomerate or a small business

Equally true is the hunger of these entities ‘to expand’. From these realities stems the bulging effect on their databases and therefore, the requirement of effective alignment of organizational statistics. This need thrusts upon the management to devise an effective method for following the performance of their critical ‘Data Records and Management’ processes.

Quite expectedly KPI are used to evaluate the performance in a holistic manner. A few of the categories, which KPIs can aid in the task of ‘performance assessment’, relate to Security, Quality, ‘Efficiency and Implementation’ and ‘Growth and learning’. The indicators grouped under Security perspective are- number of security systems, retrieval methods, instances of leakages and degree of compliance level. Quality can be evaluated via calculating the retrieval rate of internal data, % increase in number of users, inaccuracy index and duplicity detected. Efficiency and Implementation can be gauged by using Deadline Coverage Index, Resolving ratio and % drop experienced in time taken to gather data. Growth Perspective can be known by employing indicators such as the number of training sessions arranged for the staff, number of guidance documents issued and % of staff involved in managing data.

Coming to the challenging part; the biggest hindrance in structuring a useful system to record and manage data relates to ‘exactness’ and ‘security’ of the pieces of information that are dispersed on request. These characteristics are of significant value in determining the success of the process. Consequently, one has to both build these and make sure that the methods being employed stand true to their nature. Accuracy is about revealing that information, which is closest to what is demanded and easily meets the requirements. Consequently, the time one spends in digging the electronic files in order to have what is desired indicates how perfect the ‘data-store’ is. Next comes the flowing of information to ‘un-guaranteed destinations’. There has to be security mechanism or way to cross-check the person who is trying to access the contents of database.

After having in place the appropriate ways to overcome the mentioned hurdles, yet another issue that looks in the face of organizational management is the ‘evaluation of success of the technique’ being employed. This in turn, is possible by using quantitative and relevant indicators to analyse the fruitfulness of the whole process.

The intellect of ‘Norton’ and ‘Kaplan’ which materialized in 1992 in the form of ‘Key Performance Indicators’ are a way out in this regard. These measures help in both defining and following the progress. However, one should take care that these should be linked to the strategies and objectives of the organization. Nevertheless, if these stand in isolation, the organization too would seem to be consisting of ‘spread pieces’ of a jig-saw puzzle. To avoid this from happening, a thorough understanding of macro and micro environment in which the data and record management operates should be attempted. Once the specific and associated parameters have been attached with realistic and achievable values, one can get assured of the path the organization is treading.