In today’s extremely dynamic business climate, organizations are required to do more with less. IT staffs are overloaded with projects and often do not have the time or resources to collaborate with users to develop meaningful KPI’s.
- Identifying and interviewing key stakeholders;
- Analyzing business goals;
- Documenting KPI’s and metrics;
- Developing reports to pull data related to KPI’s and metrics;
- Developing dashboards.
KPI’s are measurements of progress toward a particular goal. For example, an organization may have a goal of increasing revenue by 10%. One KPI associated with this goal would be sales. KPI’s are comprised of metrics, which are measurements taken to determine progress toward a goal. In this example, one metric would be year-to-date revenues, and another might be cost of goods sold. A dashboard graphically displays the metrics that, when viewed as a whole, represent the KPI.
Establishing solid KPIs can help organizations:
- Create a culture of accountability to metrics;
- Deliver a single version of the truth;
- Embrace data-driven decision making.
“With so many different applications and databases used in multi-channel businesses these days, the challenge of accessing information can seem overwhelming to those who
are making key business decisions to improve revenue and cut costs,” said Sharon Shelton, VP Marketing at Entrinsik. “Working with our customers to develop the right KPIs for their business helps them to improve decision making through the greater use of more data-driven decision making.”
Watch a brief video demonstration to discover the power and simplicity of Informer Dashboards for yourself at http://entrinsik.com/informer-dashboards. For a free trial of Informer, contact email@example.com or call 888-703-0016.