|Who really cares about metrics? Besides those boring analysts and maybe the people who create bar charts and scatter diagrams, what self-respecting business person cares about metrics? If you are in business today, you probably ARE expected to provide measurable results for your objectives and goals. If you don’t, you won’t be on the list of your company’s favorite people!
So, where do Key Performance Indicators, aka KPIs, enter the picture? Great Business Intelligence tools always include a KPI, because today, the concept of metrics and measurements has infiltrated every organization. No matter how large or small, no matter the industry, every business knows the importance of metrics. When a company establishes Key Performance Indicators to define boundaries and results, it can objectively manage results and determine what strategies, processes and tasks are helping to achieve strategies and which must be adjusted to correct problems.
Use a great business intelligence tool to define and manage your key performance indicators and utilize integrated data and powerful expressions to plot a comprehensive picture of results, including pricing, sales, marketing, customer satisfaction, processes, skills, knowledge, resource allocation, inventory, distribution, new product development and more!
So, what exactly can KPIs do for you? They can drive results at every level of your business, establish flexible definitions and views for monitoring, tracking and reporting, deliver empowerment and accountability across your enterprise, help you to assess your results against industry benchmarks, optimize costs and improve profit margins, and provide a competitive advantage in your market…and that’s just the beginning!
If you want a business intelligence tool that offers a powerful, easy-to-use Key Performance Indicators module, get in touch with us.
Author: Kartik Patel - Founder & CEO