Business Intelligence Tools and KPIs: The Yardstick of Business Success
There are many forms of measurement. If you want to measure a piece of fabric or glass, you can use a yardstick or ruler. You might use a tape measure to find the length of a piece of wood or the height of a window. When it comes to business, measurement is more complicated. There are many factors, dimensions and aspects to measure. Measuring the right things is imperative. But, once you know what you should measure, you still have to choose objective metrics to avoid subjectivity and ensure clearly defined results and analysis so you can make confident decisions.
Business Intelligence Tools and Key Performance Indicators (KPIs) let you define boundaries, thresholds and results and objectively determine the strategies, processes and tasks that help your company achieve its goals and those things that must be adjusted to correct declining results.
You can drive performance with a complete picture of plan vs. actual results for every perspective within the company. Users can establish KPIs to track results by month, by quarter or other time series. You can establish KPI metrics with meaningful measurements for every role and function. Simple, intuitive KPI Dashboards let you establish and monitor results and adjust tactical, strategic and operational goals and processes using integrated data and powerful expressions with a comprehensive picture of results for pricing strategies, sales, marketing campaigns, customer satisfaction, team processes, skills and knowledge, resource allocation, inventory, distribution, new product development and more!