Are you managing KPIs with Excel? I often hear that Excel is not capable of managing KPIs but in reality that is rare.
Consider this, your PC, laptop or tablet has more than a million times the computing power of the Apollo moon missions. Excel is an extraordinarily powerful, flexible and widely used application. So power is certainly not the limitation. So what does limit the capability of Excel?
Your local DIY retail store holds a vast array of tools and we all understand the rudimentary uses of a hammer, screwdriver and sandpaper. Although the tools are accessible and appear quite simple the vast majority of us would struggle to build a quality chest of drawers to proudly adorn our bedrooms.
Excel, as a tool is similarly accessible. Most of us get the basics. But when we struggle to build the equivalent of a chest of drawers we blame the capability of the tool. In reality most users of Excel understand only a small fraction of its capabilities.
With Excel dismissed many seek out purpose built software packages. These have their place of course but they can be expensive and inflexible. Because they aim to deliver for all businesses they are never going to accommodate the unique needs of your business.
Your KPIs should be about business improvement; their deployment and management should not be a project in itself.
Visit the “cabinet makers” of the Excel world (and Access), go to www.vensis.ltd.uk.