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Evaluate individual performance fairly using business analytics

By May 24, 2013January 16th, 2023No Comments

Performance management is important to every business. Knowing who is excelling and who needs some extra help on a sales team can mean the difference between big profits or getting left behind. The evaluations are complex, however, as they are the process of evaluating employees in an environment that is subject to change and outside influence. Business analytics can be used in the employee evaluation process and can greatly improve the outcome. A broad perspective Using business analytics software to evaluate individual performance centralizes the operation and allows VPs of sales and team managers to see sales data in a new light. For example, rather than simply seeing that one person’s overall sales are higher than another employee’s, business analytics can present the full picture of  a company’s operations. Perhaps an employee’ sales are higher because they have taken on a new and exciting product that others have not – businesses analytics will show this to VPs of sales in easy-to-understand graphs and charts that help make sense of company behavior. In busy companies, it’s easy to let a few things get lost in the shuffle, which can unfortunately lead to unfair employee assessment. Business analytics does away with this uncertainty and presents information clearly and without bias. The results can then be used to transfer accounts, give employees opportunities with different products and see where true performers lie. Potential money-makers may be buried under the weight of dead accounts – business analytics can track employee performance by product, industry or time frame, and will help VPs of sales and HR representatives make decisions on employee compensation or account assignment. The added benefit is that workers can then receive constructive feedback on how to improve their performance. It is vastly important that employees be treated fairly when evaluated, so companies can thrive under new and evolving strategies. Business analytics software makes this process fast and efficient, creating a healthy and productive environment where everyone can succeed.

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Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.