USING INTELLIGENCE TO INSPIRE - GGA Partners › wp-content › uploads › 2018 › 11 › ... ·...
Transcript of USING INTELLIGENCE TO INSPIRE - GGA Partners › wp-content › uploads › 2018 › 11 › ... ·...
USING INTELLIGENCE TO INSPIRE
AND INFORM EFFECTIVE CHANGE
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Barriers to Change
What are the key barriers the
prevent change at your clubs?
4
The Bias Battle
5
Leaders Making Bad Decisions
The 4 Horsemen of bad decision making
No. 1: Hubris No. 2: Angst No. 3: Myopia No. 4: Paralysis
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Intelligent, Data, Evidence-Based Decision-Making
Descriptive Data Insights Decision
Analytics
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Business Intelligence
GGA believes that
informed and intelligent
planning increases
likelihood of success.
Strategy relies upon INTELLIGENCE
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Defining Business Intelligence
What is the primary type of BUSINESS
INTELLIGENCE used at your club?
Financial and operating data is typically top of mind
93%93% of club managers reference financial and operating data as their
primary type of business intelligence used at their club.
We encourage you to think
BIGGER!
Defining Business Intelligence
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Defining Business Intelligence
TIMETime from senior
executive team is required
to set plan.
CULTUREData driven decision
making in clubs is not
ingrained.
RESOURCES
Knowledgeable resources
are required to execute
plan.
COSTTime, resources and
technology all come with a
cost.
Barriers for Clubs
DATA TYPES
Internal and external data
combined for unique
insight.
DATA SOURCES
Data from multiple sources
is synthesized for
analysis.
APPLICATION
Experience and
assumption is applied..
ENABLED
Data acquisition and
analysis is enabled by
technology..
Common Characteristics of BI in Corporate World
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Defining Business Intelligence
TIMETime from senior
executive team is required
to set plan.
CULTUREData driven decision
making in clubs is not
ingrained.
RESOURCES
Knowledgeable resources
are required to execute
plan.
COSTTime, resources and
technology all come with a
cost.
Barriers for Clubs
DATA TYPES
Internal and external data
combined for unique
insight.
DATA SOURCES
Data from multiple sources
is synthesized for
analysis.
APPLICATION
Experience and
assumption is applied..
ENABLED
Data acquisition and
analysis is enabled by
technology..
Common Characteristics of BI in Corporate World
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Defining Business Intelligence
History
IMAGE
What We Know
- Who they are
- Where they live
- What they do for a
living
- What their
preferences are
- When they use the
club
Future
IMAGE
What We Wish
We Knew
- Who they will be
- Where they will live
- What will their
preferences be
- What will they
spend
- When will they use
the club
Key Business Driver:
MEMBERS
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Defining Business Intelligence
Business Intelligence and Analytics
A CONTINUUM
Descriptive Diagnostic Predictive Prescriptive
Business Intelligence Analytics
History Future
What happened? Why? What could happen? What do we do?
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Current Landscape
Descriptive Diagnostic Predictive Prescriptive
Business Intelligence Analytics
History Future
Business Intelligence is a relatively immature practice in clubs
CLUBS
Don’t let the concept of a continuum fool you, even the first few categories can be challenging to execute efficiently and effectively.
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Current Sources of Data
Clubs predominantly rely on the following historic data for their BI
Initiatives:
01MEMBERSHIP
02 OPERATING
03FINANCIAL DATA
59%
CLUB MANAGERSIndicate they do not have an
efficient method for distilling
financial and operational
performance reports to the various
stakeholders at their club.
Current Landscape
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Technological Advancement in Clubs
• Progressing at a rapid pace.
• New features and functionality to source and store new data.
• Dashboard builders.
• Drag and drop functionality.
• Access to all types of data contained in management system.
• Helping push clubs along the spectrum towards deeper analytics.
Current Landscape
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Approach
What should your BI goals be?
01 / INFORM KEY DECISION MAKERS Accurate. Timely. Actionable. Intelligence.
02 / IMPROVE PRODUCTIVITYEffectiveness. Board Meetings. Management Meetings.
03 / EFFICIENTLY ALIGN STRATEGYEvaluate. Develop. Adjust.
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Approach
04Put your mind to it and leverage third
party support to track information
03Let these questions form the basis of
your BI requirements
02Develop a list of key questions which you
need answers to
01Start with your club’s strategic plan and
overarching goals.
BI REQUIREMENTS
STRATEGIC PLAN
SOURCE
INFORMATION
DEVELOP QUESTIONS?
Lead With Strategy
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Approach
06Present analysis and key findings in a
clear and concise manner.
05Analyze all data sourced to identify
trends and diagnose outcomes.
Drive Insight Through Analysis and Visualization
VISUALIZE ANALYSIS
ANALYZE DATA
INSIGHT
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Approach
GGA Quadrant
Strategic Business
Intelligence
Strategic Analytics
Operational Business
Intelligence
Operational Analytics
AnalyticsBusiness
Intelligence
Strategic
Purposes
Operational
Purposes
Key Audiences
& Objectives
BI & Analytics Continuum
Board Members
Executive Management
Executive Management
Management & Staff
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Approach
How We Help
Strategic Analytics
Operational Business
Intelligence
Operational Analytics
Strategic
Purposes
Analytics
Business
Intelligence
Operational
Purposes
BI & Analytics Continuum
Key Audiences
& Objectives
Business Intelligence for Private
Clubs
Designed to help club leaders
confidently set and adjust
strategy
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Strategic Intelligence
Most Important BI Categories
GOVERNANCE
MEMBERSHIP
MARKET
UTILIZATION
OPERATIONS
CAPITAL
FINANCE
Strategic Intelligence
External Data Sources
Population Data Web TrafficReal Estate Data Social Media Data News Outlets
General LedgerTransaction
Register
Membership
Database
Customer
Relationship
Internal Data Sources
Reservation
System
Survey
Responses
If you can’t find it, you can’t mine it!
Data structure is critical
Poor structure makes finding helpful Business
Intelligence year-over-year a challenging and
confusing task
Strategic Intelligence
Track and monitor, consistency is crucial.GOVERNANCE
IMAGE
Performance and trust in board• Self-assessment• Member feedback
Compliance with rules and regulations• Instances of member disciplinary action• Member payment delinquencies and suspensions
Compliance with laws and regulations• Instances of non-compliance (workplace safety, annual
audit results, etc.)• Emerging issues and trends that may impact your club
Strategic Intelligence
MEMBERSHIP The MOST Important Business Intelligence Category.
IMAGE
Satisfaction• Overall satisfaction and NPS• Member referral rate
Sales and Resignations• Leads and conversion rates• Net changes in memberships
Demographics• Total population of memberships• Average age and tenure
Impact• Net financial impact• Spending trends
3%
-4%
0%
-4%
1%
2%
-4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0%
2013
2014
2015
2016
2017
2018B
% Change in Total Memberships from Year to Year
Fisca
l Yea
r
Net Annual Change in Total Memberships
Strategic Intelligence
MARKET Understand Historic Patterns to Forecast the Future.
IMAGE
General Demographics and Psychographics• Traits, preferences and trends• Source-of-origin• Projected changes • Past, present and future market to membership overlay
Competition• Supply of clubs and market position• Key competitor strategy and brand• Membership categories, rules and regulations• Pricing and packaging• Marketing and communications
Mapping Competitors within 15
and 30 min.
Strategic Intelligence
UTILIZATION Important measures of your club’s relevance to it’s members.
IMAGE
Utilization• Operating use statistics • Measurement of utilization versus capacity• Average spend per use measurements
Participation• Events and tournaments• Reservations and cancellations/no shows• Average spend per event and tournament• Net change in number of events
Strategic Intelligence
OPERATIONS Track pound/euro amounts, average growth rates and trends.
IMAGE
Profit and Loss• Revenue by department• Gross profit and gross margin• EBITDA and EBITDA Margin
Operational Feedback • Member AND Employee satisfaction, engagement and
experience• Ratings versus expectations
Amenity Access• Operating hours and offerings• Ratings versus expectations• Measurement of unfulfilled requests
Strategic Intelligence
CAPITAL Evaluate elements on an aggregate basis and per member.
IMAGE
Sources• Joining fees• Capital levy• Capital assessments• Annual funds available for capital
Uses• Repairs and replacements of existing assets• New capital improvements
Reserves• Capital reserve studies• Actual capital expenditures vs. reserve study• Capital expenditures as a % of Revenue• Capital expenditures vs. depreciation
Strategic Intelligence
FINANCE Focus on options and outcomes.
IMAGE
Financing Options• Sources• Availability• Impact
Liquidity• Current ratio• Working capital• Quick ratio• Interest coverage ratio
Leverage• Debt to equity• Total debt per membership
Strategic Intelligence
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Strategic Intelligence
Visualization and Presentation
STRATEGIC CONSOLE
ONLINE PORTAL
IMAGE
ANALYTICS CENTER
GGA ANALYST
SUPPORT DECISION MAKING & MEASURE PERFORMANCE
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Strategic Intelligence
Other Interesting Uses
1. Board & Management Orientation
2. Rolling Feedback
3. Employee Feedback
4. Hotline for Sourcing KPIs
5. Member Voting
6. Annual Board Presentation
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SI Trends
• Social atmosphere ratings were the most
correlated to overall club satisfaction.
o Feeling welcomeo Interactions with memberso Friendliness of memberso Family friendliness of club
Social Atmosphere
• All Clubs with above-average social atmosphere ratings exhibited above-average
overall satisfaction. While all clubs with below-average social atmosphere ratings
had below-average overall ratings.
• Social atmosphere appears to be correlated to food and beverage.
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• The second-most correlated area to
overall member satisfaction.
• Approximately three in four clubs with
above-average ratings also exhibited
above-average ‘overall satisfaction’.
• Consistently rated the lowest of all areas
by members.
• The specific ratings most correlated to the
overall rating are value for money and
menu selection.
Food and Beverage
SI Trends
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• Overall course and practice facility ratings did not exhibit strong correlation to overall member satisfaction.
• Greens and tees ratings most correlated to overall golf course ratings.
• On average, bunkers were the lowest rated attribute; rated approximately 15% lower than other golf
course attributes. Bunkers exhibited a weak correlation to overall golf course ratings.
• ‘Short game area’ ratings were strongly correlated with overall ‘practice facility’ ratings. Several Clubs
received below-average ratings for the driving range, yet still exhibited above-average overall practice
facility ratings due to above-average short game area ratings.
Golf Course and Practice Facilities
SI Trends
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• The clubhouse ratings exhibited a moderate correlation to overall satisfaction, higher than that
of the golf course.
• Ambiance, building maintenance, and parking ratings most correlated to overall clubhouse
ratings.
Clubhouse
SI Trends
THE DIFFERENCE MAKER
An organization’s ability to identify meaningful
and precise Business Intelligence amongst the
growing clutter of available information.
Key ingredients for Dramatic
Change and Transformation:
1) Lead with Strategy
2) Systematic Approach
3) Better Information
4) Thorough Analysis
5) Action
Rob Hill
00 353 8668 12744
https://www.globalgolfadvisors.com/strategic-intelligence