The IMPACT Indicators® are a set of quantitative and qualitative data points and metrics/ Scorecards that indicate the overall performance of a business or enterprise in all areas of its marketing, sales, operations, R&D, and financial activities. Specifically, it includes reports that are prepared for a business on a daily, weekly, monthly, quarterly, and annual basis that include the following ingredients: insightful, meaningful, precise, accessible, comparative, and timely.
Insightful - You will reach the pinnacle of insightful indicators and data when they foster contemplation and discussion, both strategic and tactical, that actually improves performance. The data and information reported regularly in a business needs to be analyzed and presented in a way that generates independent and creative thought and insight, and the company needs to create forums and opportunities for these discussions to occur.
Meaningful - What are the most important things that happen in your business? Every business has pivotal performance drivers that ultimately determine the success or failure of a business. These need to be included and highlighted in the reporting functions of the company. Every employee should understand their potential impact on these key drivers, and the indicators of the business should help each employee know what they can do to improve.
Precise - You need to be able to trust that the information you receive is accurate. If you find one flaw in the data, then the credibility of all of the data is lost and decision-making becomes fuzzy.
Accessible - The indicators need to be easily accessible both intellectually and physically. Intellectual accessibility refers to avoiding large tables of overwhelming data points and, instead, using charts, graphs and scoreboards as much as possible. Physical accessibility about making the information as easy to access as possible. Forcing people to have a certain kind of software or another user name and password just to access the information creates barriers instead of easy access. Most will not open the attachment to the email you send or they will forget where they saved the document. Print it, distribute it, put it up on the wall, and do anything else required to remove any barriers to access.
Comparative - Numbers and data are meaningless without understanding the context in which they are derived. How did the company do last month, last year, and several years ago? Which direction is it trending? How does the company's performance compare to its industry? These and other questions should be answered by the company's reporting processes.
Timely - Information is only valuable if it can facilitate the development of and implementation of strategic and tactical initiatives. The more out-of-date or after-the-fact the information is, the less actionable it becomes. There are several different IMPACT Indicators®, including: