A few months ago, a single e-mail message from someone at Reuters was mistakenly sent to more than 33,000 unintended inboxes. Even worse, it generated days’ worth of responses in what became known on social media as #ReutersReplyAllGate.
Among other descriptions, this misstep is a textbook example of a poorly executed feedback loop.
Here’s a more typical scenario: sending Excel templates for financial reporting and analysis to LOB managers across an organization. They review it, verify back to the sender that they have done so, and offer value-added insights into the numbers – but they do it one email and spreadsheet at a time. For many finance departments, this may sound like business as usual, or a logistical nightmare of version control and data consolidation issues. Continue reading Feedback Loops – Reporting as a 2-Way Street