What is MI?
Management Information, or MI allows data that is collected within a business to be analysed and displayed in a way that allows businesses and managers to analyse and evaluate information and trends in order to make decisions and to drive change. It enables a business to move away from basing decisions on perception and instead allows them drive performance through timely and relevant data. The data can include things such as information on absence rates, punctuality, complaints or customer feedback, in fact any data that can show how well the business is performing against any KPIs or SLAs.
What is MI used for?
Management information is designed to be straight-forward to collect and easy to manipulate, enabling management teams to quickly see any changes and to measure progress that is being made from week to week. Even after only collecting MI over a short period of time it is easier to see patterns in performance, as well as to identify any variables which may be adversely influencing outcomes. By regularly reviewing MI, it’s possible to respond proactively, coming up with solutions that can really make a difference to performance. Not only does prompt action minimise the risk of performance continuing to degenerate, it also improves the customer experience.
MI, customer perception and the NRPS
Utilising MI can help train operators (TOCs) be prepared for the National Rail Passenger Survey (NRPS) and to make real changes to the business that will improve customer perception. Without MI, the findings of the six-monthly NRPS can come as a surprise, and it is hard to know how the business is performing between surveys. By using MI data and systems that are aligned to the NRPS criteria, you can perform ongoing analysis of business performance, making changes as and when they are needed to ensure that you can make improvements outlined in surveys. Meaning your business keeps ahead of the game and can predict the outcome of the survey. Another advantage of MI, is that it can be tailored to meet the needs of each TOC and adapted to suit particular areas that need attention. The frequency and depth of information collected and studied can be changed as operational priorities alter, enabling focused information and monitoring. MI offers a low-cost, effective method of minimising the risk of poor performance through pro-active monitoring and responsive operational alterations.
Transform your transport operation with Management Information
MI is simple to incorporate into the everyday operation of your TOC, enabling data you need for informed decision making to be collected quickly and easily. In many cases, utilising MI in a proactive way will cause no extra work, as it uses data you are already collecting. By making MI a key requirement for your TOC, it’s possible to gain a clear picture of performance and put in place fast changes to enhance your business and to improve the customer experience. Atalian Servest is working with their contacts in the transport sector to develop a Management Information system that will make a real difference to the industry. Get in touch today to find out more.