What metrics should you be using for your business? Business leaders are focused on rapidly delivering high quality products and services to customers, selling products, and providing a great customer experience. You can relate meaningful metrics to top-line growth and profit and deliver this information in the most consumable way possible.
If You Can’t Measure It, You Can’t Manage It
Challenges associated with metrics for business include:
- Information scattered across many systems and extensive time spent on data collection
- Delayed information delivery and missed decision-making opportunities
Business leaders need to receive information in a real-time fashion so they can quickly respond. Without this capability, the chance of losing customers to competitors increases.
Two Types of Metrics
Metrics focused on IT dials into system availability; systems are supposed to run 24×7. This is especially important during peak periods. IT can measure its metrics based on feedback from internal customer satisfaction, but measurements must be quantitative and not opinion based. Another characteristic of IT metrics is the investment aspect. IT is competing with other groups for company budgets, so they need to make sure the money they receive is well spent, which increases the importance of a solid metrics reporting tool. IT metrics are key to smooth business operation.
Business-centered metrics look at revenue, customer satisfaction, new products, and service delivery. They tell stakeholders whether the company is on track to meet quarterly expectations. Too often BI systems generate reports and graphs that are not used by those who need them the most. These static reports lack the functionality to quickly check in and confirm the status of business.
One Convenient Way to Access
With mobile metrics and its alerts functionality, you can ensure that all the right people are up to speed. Broad access to timely information is essential in a highly competitive business environment.
The most important piece of all is the ability to sort through data quickly and understand trends. To best utilize metrics, the variety of information needed by your organization should be captured and analyzed. The solution to metric challenges, whether it be for business or IT, is to provide mobile access to key metrics and alerts in real time. Measure your business to ensure you’re successful, focus on a few metrics that are meaningful, and deliver them in the most consumable format.
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