Analytics for Supervisory Board Members

Gain insights into your business

Supervisory board members translate the strategy of a company or organization they oversee into a broader risk analysis. This risk analysis forms the basis for every supervisor to monitor various areas. This can range from monitoring financial performance against objectives to gaining insights into the realization of ESG ambitions.

By 2025, supervisory board members no longer need to rely solely on PowerPoint and Excel information prepared by the company’s leadership. A proactive supervisor formulates in advance the relevant questions and themes where more insight and factual substantiation are needed. A large part of these supervisory questions can be answered with the use of data analysis.

Our supervisory dashboards are tailored in collaboration with the supervisory team based on selected questions and themes. Based on an agreed-upon timeline, the data analyses are developed by Coney Minds and the findings are discussed with the supervisory team.

The supervisory team takes the lead, and we support them with relevant data analyses. The findings are reported to the supervisory team. We support both individual members of a team as well as entire Supervisory Boards, Boards of Trustees, and Advisory Boards. We always require prior consent and cooperation from the company or organization being overseen.

When it comes to in-depth analysis, especially for root cause analysis of deviations, we define the “why” question in advance. Root cause and exception analyses may focus on in-depth additional revenue and margin analyses at the product and customer level, analyses of payment environments and cost developments, deviations in business performance, and/or the development of ESG performance against objectives.

It is always about gaining relevant insights and solving supervisory questions.

Do you have questions about analytics? We are happy to advise you!
0900 024558
info@coneyminds.nl

Custom-designed Tableau System

Since 2010, we have been working with Tableau, the most advanced data visualization solution currently available on the market. With Tableau, we can transform data into relevant insights at lightning speed. Through 24/7 accessible view options, we share and update these insights seamlessly.

Request a Demo

Lorem ipsum dolor sit amet

Every supervisor or supervisory team seeks relevant information to support the conclusions of their oversight. Data analysis is an efficient and effective technique for collecting relevant information. By using data analysis, not only can assumptions and arguments be substantiated, but it can also directly investigate why actual performance lags behind expectations and objectives. These relevant insights lead to meaningful conversations. With data analysis, an integrated view is obtained into a significant goal, business process, or transaction flow based on relevant supervisory questions. We translate these questions into a custom-made supervisory dashboard for supervisors. The outcomes are discussed together. These data-driven supervisory dashboards meet several key characteristics:

  • Custom-made
  • Focused on what is relevant for the supervisor based on prior scoping
  • Access to underlying transactions
  • Automatic updates based on a pre-agreed frequency
  • Adaptable to new (supervisory) circumstances

We enjoy collaborating with supervisors who share our data-driven mindset. This collaboration stems from a shared belief that focusing on relevant insights empowers the supervisor. Focus on relevant information, based on integrated data analysis for significant objectives, business processes, and transaction flow analysis.

When it becomes clear that findings fall short of expectations or when trends emerge that deviate from recent patterns, it is time to investigate the underlying strategic, financial, or business performance issues further. These are the root cause and exception analyses. We will discuss the scope, timeline, and fees for these additional analyses in advance. The findings are shared through intelligent visualizations in our Data Portal, powered by Tableau.

Recent data analysis challenges for supervisory board members include:

  • Insights into the development of revenue and margins, and analysis of deviations in performance compared to strategic objectives, internal norms, and/or expectations
  • Soll versus IST analysis for revenue, based on capacity analyses, subscriptions, hours, or delivered services and products
  • Insights into the development of specific cost groups such as R&D, Marketing & Sales, and Maintenance costs
  • Analysis of ESG performance compared to internal benchmarks
  • Development of compensation policies and personnel costs
  • Assessment of the design and effectiveness of internal controls over relevant financial processes (using process mining)

The Roadmap to Insights with Analytics

Lorem ipsum dolor sit amet, consectetur adipiscing elit. In mi purus, fringilla vel posuere vitae, pellentesque non massa. Integer iaculis nec eros vel volutpat. Morbi eu consectetur erat.

Request demo
1

Developing the Strategy

We begin by discussing the “why” question: which analyses are relevant, and which smart metrics provide the desired insights? We also define the update frequency for the smart metrics and the follow-up process: what actions will be taken based on the results? We listen and translate the smart metrics into the required data elements and corresponding KPI definitions. Regular meetings are held to refine the smart metrics and adjust them to new standards and expectations. If deeper root cause or exception analyses are required, we define the scope, depth, and additional costs for these analyses upfront.

2

Developing the dashboard

Dashboard development begins with a “concept.” This includes defining the smart metrics and sharing example visualizations. Together, we determine how to present the insights in the most valuable way.

3

Data integration

A key part of the process is identifying how the required data elements, stored in underlying source systems, can be accessed. For example, can this be done automatically via an API connection, or is a custom data extraction solution required?

4

24/7 Dashboard Access

Dashboards are automatically updated based on a pre-agreed frequency. Using Tableau, which operates within our Data Portal, we provide access through View licenses linked to individual users. Everyone with a View license can securely access the dashboards 24/7 via laptop or mobile device.

5

Exceptions & trends

Data analysis is an efficient way to gain relevant insights. It becomes truly effective when exceptions from expected performance or trends are followed up on. We actively monitor, provide input, and, where necessary, initiate deeper root cause and exception analyses.

Do you have questions about analytics? We are happy to advise you!
0900 024558
info@coneyminds.nl