Real-Time Analytics: The Key to Ensuring Feasibility of Your Business Strategies

Written by Jackie Connaughton – Business Health Institute

In today’s ever-changing business landscape, it’s essential to have a well-defined strategy that aligns with your organisational goals. However, devising a business strategy is just one part of the equation. To achieve strategic success, you also need to ensure the feasibility of your business strategies by evaluating whether your employees have the capability to act on the strategic intent.

This is where real-time analytics can come in handy. By analysing data in real-time, you can gain insights into your employees’ performance, identify gaps in their skills, and determine the feasibility of your business strategies. Here are some ways you can use real-time analytics to ensure the feasibility of your business strategies:

1. Identify areas where your employees need training: Real-time analytics can help you identify areas where your employees need training to be able to act on your strategic intent. By analysing data on employee performance and skills, you can identify skills gaps and develop training programs that address those gaps.

2. Monitor the progress of your strategic initiatives: Real-time analytics can help you monitor the progress of your strategic initiatives by tracking key performance indicators (KPIs) in real-time. By monitoring KPIs, you can quickly identify any issues that may arise and take corrective action to ensure that your initiatives stay on track.

3. Align employee goals with organisational goals: Real-time analytics can help you align employee goals with organisational goals by tracking individual performance against organisational objectives. By doing so, you can identify employees who are not aligned with the organisation’s goals and take corrective action to align them.

4. Identify potential roadblocks: Real-time analytics can help you identify potential roadblocks to the successful implementation of your business strategies. By analysing data on employee performance, skills, and behaviour, you can identify potential obstacles that may arise and take proactive steps to address them.

In conclusion, real-time analytics can help you ensure the feasibility of your business strategies by providing you with insights into your employees’ performance, skills, and behaviour. By leveraging real-time analytics, you can identify areas where your employees need training, monitor the progress of your strategic initiatives, align employee goals with organisational goals, and identify potential roadblocks. With real-time analytics, you can ensure that your business strategies are feasible and achieve strategic success.