COLUMBIA, MO / ACCESSWIRE / November 10, 2022 / Experienced business leaders know it is important to set KPIs, establish goals, and communicate objectives to set a company on a course toward success. The creation of those goals is a critical first step. But what comes next? How can business leaders discover the most predictive leading indicators and align their teams on the right metrics once they are set?
Sometimes the answer to that question is easy. Inquiring if a team hit a sales goal, for example, is a yes or no question. Many other KPIs, though, such as employee engagement or improved workplace culture, present difficulties. These are hard to measure due to their nuanced and unquantifiable elements. That’s where performance analytics come into the picture.
What Are Performance Analytics?
The basic concept behind performance analytics is easy to grasp. It is a process in which a company analyzes its performance in various areas to judge if its efforts have been or will be effective.
It’s worth noting that, within that definition, there are several different forms that performance analytics can take. For instance, descriptive and diagnostic analytics focus on what and why things happened in the past, respectively. Predictive analytics look forward, considering what trends and additional factors could dictate future performance. Prescriptive analytics provides actionable solutions to address analytical findings.
The Struggle to Scale Performance Analytics
Performance analytics is a powerful tool for business leaders. It provides actionable insights into both past and future performance within a company. However, without further investment, that data remains little more than intriguing pieces of information.
Performance analytics tools also scale poorly. Small and even some medium-sized businesses may be able to manually assess the effectiveness of their performance. However, as a company grows, the ability to judge effectiveness, let alone create actionable solutions, becomes nearly impossible.
If performance analytics is abandoned due to scaling issues, the problem doesn’t disappear. In fact, it can compound, slowing growth and dampening momentum.
That’s where Two Story comes into the picture.
Two Story Is Tapping New Potential With Performance Analytics
Two Story is an innovative performance analytics company that is finding ways to decode and improve performance at scale. Not surprisingly, technology is at the heart of the initiative, specifically in the form of artificial intelligence and machine learning.
AI accelerates performance analytics by cutting through large data pools. Two Story’s in-house developed eXplainable AI-driven algorithm provides a quick and logical way to organize, analyze, and interpret both structured and unstructured data sets. The self-sustaining code can parse through vast quantities of data, looking for important patterns. This reveals trends and anomalies, which leaders can use to inform effective solutions.
AI-powered performance analytics provide several key benefits across an enterprise. For instance, they can lead to cleaner financial hygiene and better employee engagement. Healthy hiring and promotions are also major advantages. AI-driven analytics avoids biases and can help identify key candidate attributes for things like job performance expectations and onboarding.
Integrating Behavioral Science Into the Mix
AI is a foundational element of Two Story’s sustainable performance analytics model. But it isn’t the only factor. The company’s collaborative team of behavioral and computer scientists (which the Two Story team refers to as “The Lab”) is also merging their powerful artificial intelligence algorithms with behavioral science.
“Where this gets really interesting is when you combine AI with behavioral science for performance analytics,” says Michael Mueller, Head of Performance Science Growth at Two Story, “While AI brings powerful analytics, behavioral science delivers actionable recommendations and decision support. Not only are you predicting outcomes, but also guiding users with personalized recommendations to improve the outcomes over time.”
This synergistic combination of AI-powered performance analytics infused with behavioral science is an ideal way to generate specific insights and tangible solutions.
Two Story Is Setting a New Standard for Performance Analytics
It’s important to find companies that don’t just create quality performance analytics tools. Both the providers and their proprietary software must also have certain key attributes
For instance, they should ascribe to an ethical application of responsible AI. Two Story is committed to this concept to the point where it has even developed an algorithm to address it. The brand’s Simple RulesTM algorithm incorporates the latest research in the areas of transparency and explainability to ensure that responsible AI remains a top priority.
Other key attributes to look for in a performance analytics tool or provider include flexibility, scalability, customization, and data democratization. At the end of the day, though, the most important thing is finding a provider that matches a company’s business objectives.
Technical proficiency is one thing with a performance analytics tool. However, the people behind the code also need to be a reliable source of support for current and future analysis and decision-making efforts.
Two Story has found sustained success due to the ability of its team to balance powerful AI algorithms, cutting-edge behavioral science, and a unique focus on scalability and personalization. The result is a performance analytics tool that is setting a new standard by effectively helping businesses identify and address performance issues, both in the present and the future.
About Two Story: The leadership team at Two Story has decades of experience in applied research, translating emerging insights into pragmatic solutions. Our founders came together to help our clients lead their teams in a digital world, and shape the future of workplace performance analytics. With Two Story, organizations unite the chasm between people data and business outcomes. Your AI assessment intelligently aggregates disparate datasets. The latest machine learning technology interprets the data to reveal the impact of each behavior, enabling you to amplify productive activities and eliminate noise.
CONTACT
Michael Mueller
[email protected]
SOURCE: Two Story
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