Using the Business Impact Module

Business Impact Overview

The Business Impact module allows you to evaluate your business performance, taking into consideration training data such as Training Completion Percentage or Exam Pass Rate.

As an Admin you can:

  • Evaluate the impact of training on your business or employees’ completion data
  • Find correlations between KPI's and training data
  • Explore other factors that may affect your business outcomes

In order to set up and use this feature efficiently you’ll need to first understand how Business Impact works, and how data is interpreted. Let’s start with the basics.

Setting Up KPI's and Target Areas

An organization’s performance and targets are measured with values called Key Performance Indicators (KPI's). These indicators show whether or not specific targets are achieved. KPI's can refer to the overall performance of the business, or the performance of certain sectors, e.g., sales, customer service etc.  

You, as an admin, can set up the KPI's for your business, based on your measurable goals.

Adding Categories

First, you need to set some categorizing criteria to facilitate the filtering process.

To do so, select the Business Impact Workspace. Then on the left, Categories.

   

Here you can add Categories and specific subcategories, called Areas.

In this example, Sales and Customer Service are Categories. Upselling (hidden) was the Area added to Sales, and Call Center is being added to Customer Service.

KPI's

To set up your KPI's select KPIs -> Set up KPIs in the left navigation bar. In this section of the Business Impact Panel you can:

  • Create a new KPI
  • View and edit data
  • Import Data
  • View Trends

 1. Add new KPI'S

To add a new KPI click Add KPI. Type its title, select its category and area if applicable, and finally, click Save

 

There are two types of KPIs: Cumulative and Average. Cumulative KPIs represent the total scores of different units.

Example: Unit 1 has 100 $ monthly sales revenue and Unit 2, 200$. The cumulative KPI will be 300 $ (200 +100) for the monthly revenue of the Above Unit.

Average KPIs, on the other hand, represent the average score of units. This type of KPI provides a way to measure KPIs, such as customer satisfaction or customer engagement, by calculating their average.

 Example: In a scale from 0-10 to rate Customer Satisfaction , Unit 1 was rated with 7/10 and Unit 2 with 9/10, the average KPI represents the average of both which is 8 (7+9/2=8).

Please note that it is mandatory to select the type of KPI in order to have it calculated across the organizational structure of your academy.

2. View, Edit, and Import Data

If you select Import Data you can view the data, manually edit the data, and update a spreadsheet to import new data to the KPI.

Clicking Import Data gives you an overview of all data for this KPI. You can set the year, and manually edit the data by double clicking a cell and adding a value. You also download a template by clicking Download template to add the data. Importing the created template can be done by selecting the right year, user, and whether it's Executed or Target, and then pressing the blue Import button.

Once you click Import Data you can download, and fill in one of our sample templates.  To upload the relevant spreadsheet from your computer, then, click Import.

 

4. View Trends

Click Trends to add known fluctuation of your KPI values due to, e.g., the seasonal nature of your business. For example, you may always have an increase of about 30% in sales in December compared to November. If you add this trend, the system won't recognize this increase as being the result of a good training. Instead, it will first decrease your sales of December by 30%, and then correlate it with the training data. In order to show a relation between an increase in sales and the training performance of your team, sales increase in December will have to be higher than 30%.


You can add these patterns as a percentage that reflects the known difference from the previous month.

Read also: 

Measuring the Relationship Between Different Business Units

Using the Impact of the Knowledge Fuel Dashboard

 

 

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