The Farm CPA
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
Day 2 of FFSC (Session 3)
Aug 03, 2011
Dr. Barry Dunn, Dean of AG/BIO, South Dakota State University in Brookings, SD gave a presentation on the untapped power of information systems in decision making.
Dr. Dunn shared several humorous examples of data overload. He indicated the most powerful tool that he has seen for agriculture is the use of management dashboards for farmers. A management dashboard takes all of the accounting, production and other data that a farm generates and places it into a simple a few page overview of the farm operation.
The performance dashboard serves like a magnifying device to spotlight the most important information in a readily readable format.
- Be Informative
- Help improve performance
- Possibly serve as a lever to change culture
- Be based on causal links necessary to achieve objectives
- Use metrics derived by scientific process
Dashboard Reporting should:
- Refine and communicate strategy
- Provide a consistent view of an organization
- Deliver actionable information in a timely manner (instant feedback)
- Promotes coordination between departments
- Brings transparency to an organization
- Motivate and empowers employees
- Reduce costs and redundancy
Dashboard reports should streamline the process from data to action.