In this mini-series, “The Success Tracking Difference“, we are focusing on the differences between the new discipline of Success Tracking and traditional analytics / business dashboards.
The single score is probably the most far reaching difference.
Compare the following images, one of a typical “business dashboard” the other of a single score success tracking program.
A business dashboard tends to feature several data visualisations without enabling the viewer to see a summary of everything in one go. It is designed with “monitoring” in mind – the idea that you are always watching the monitoring dashboard in case something goes wrong.
A success tracking program, such as the LinkedIn Social Selling Index, on the other hand, is designed for regular check-in and focuses attention on a single number.
There are many benefits of tracking’s single score approach:
- Simple to understand – everyone can appreciate a single number
- Fast personal comparison – you can quickly see if things have changed (gone up or down)
- Easy to communicate – you can send a single score via SMS text
- Embeds priorities – you can add another layer of intelligence to the tracking by weighting different metrics and so prioritising some over others
- Enables peer comparison – you can benchmark and rank yourself against others
The main disadvantage of the single score is that it takes time to design a good one. Working out the relative importance of different metrics is never straightforward. it is the job of the score designer to embed their own expert biases in the weighting. That means each “score algorithm” should be adjusted for the local context and business priorities.
This also means that just taking an “off the shelf” index such as that provided natively by companies like LinkedIn with SSI above, is not a good strategy. Using someone else’s weighting is unlikely to deliver as great returns against your business goals as if you created your own single score weighted to your business preferences.