In a world where data represents a major competitive advantage for businesses, the need to monitor performance based on specific goals and targets is critical. It is not enough to track relevant consumer-based or sales data. In order to really ensure you are growing and making the most out of your data-driven efforts, it is necessary to implement measurable goals that will allow you to assess your strategic efforts efficiently.

That said, there are various methods and tools businesses use to manage their data and optimize their performance. One of the most powerful ones is key performance indicators (KPIs). KPIs are a type of measurement that helps organizations evaluate their success in different activities and areas. With that in mind, implementing KPIs targets and goals proves to be a very successful practice. 

READ MORE

Monitoring business performance and tracking relevant insights in today’s digital age has empowered managers and C-level executives to obtain an invaluable volume of data that increases productivity and drives down costs. In fact, data has become the raw material on that every strategic decision is based upon while reporting software creates the environment to act on generated information swiftly and accurately. Enter the world of a KPI scorecard dashboard.

Tracking the success KPIs based on your needs and the time frame you select while comparing your values can be done with simple yet effective scorecards. Here, we will look at the definition of scorecards, see how they differentiate from dashboards, and dig deeper into KPI scorecard examples from business scenarios that are possible to apply to different departments throughout your organization—tools you can also use as a roadmap for online data analysis.

Let’s get started.

READ MORE

In a hyper-connected digital world driven by data, there has never been a better time for businesses to gather meaningful insights on their target prospects, in addition to measuring ongoing levels of commercial growth and performance.

The modern consumer, or digital native, craves a significant level of value from the brands in which they’re looking to invest – and as such, to gain consumer loyalty, businesses must reach out and talk to their customers on a personal level. Social platforms provide some of the most powerful, as well as sustainable, mediums on which to do so.

In fact, LinkedIn boasts over 530 million user profiles to date. According to research conducted by the Pew Research Center, 75% of male internet users actively use Facebook, as well as 83% of female internet users. And that’s just the tip of the social media iceberg.

READ MORE

In the modern age, brands, and businesses that benchmark their activities stand to gain an all-important edge over the competition.

Whatever your niche or industry, working with dynamic KPIs will empower you to track and improve your performance in a number of critical areas, accelerating your commercial success in the process. Without data, you will only ever be ‘shooting in the dark when it comes to formulating strategies and making informed decisions. While there are numerous KPI examples you can choose from, you should pick only the most important ones and focus your resources on them.

That said, using the right KPIs is essential to both your immediate and long-term organizational activities. KPI tracking is a technique that will give you a deeper insight into the inner workings of your business – and we’re going to discuss the concept in detail.

READ MORE

The supply chain is the backbone of any modern business: an ever-shifting ecosystem that ensures the smooth, efficient, and consistent delivery of products or services from a supplier to a client or customer. 

If your supply chain lacks structure, vision, and efficiency or is fragmented, your commercial growth will suffer. That’s why it’s critical to monitor and optimize relevant KPIs and metrics for supply chain management with pinpoint accuracy.

READ MORE