This episode is Part III to our Data 101 series and fits nicely with Episodes 9 and 12 (Parts I and II, respectively).
In this episode, Chris reviews another technique for reporting called “Ranking and Diagnostic.” Ranking and Diagnostic Reporting is a method of reporting where the metrics to be collected based on a reporting strategy that will rank order performance on a particular outcome metric based on actionable segments. And then, a series of diagnostic metrics are used to define what drives outcomes in one direction or another.
- Why: The idea of ranking and diagnostic reporting is a frame of reference to be used when designing a data plan that will ensure the resulting information will be actionable.
- Ranking Metrics: Ranking metrics will always have two components: A) an independent variable that defines different areas of management and B) an outcome measure that defines success with which to rank order the independent variables.
- Diagnostic Metrics: Diagnostic metrics are the key drivers of the outcome you’re measuring. Key drivers are determined using common sense, management initiatives, or statistical analysis.
- Putting it all into Practice: By using ranking and diagnostic reporting together, you have a robust reporting tool that informs stakeholders when action is needed, where it is needed, and what needs to be done to fix things.
Other Reporting Frameworks