BI In Action >> Linear and Cross Functional KPIs
If you were to believe everything you read, it is the best time to go into business. The pressure on small businesses has never been greater. Seven out of ten new employer establishments survive at least two years and 51% survive at least five years. The key reason they give for failure is mismanagement.
Too many business owners spend hours poring over multiple spreadsheets, P&L reports and calculations with little and product.
While there are many different aspects to this problem, one issue we will look at in detail is the use of key performance indicators.
KPIs provide small business and large business with immediate snapshot of the overall performance of their business. In Today’s competitive business environment, it becomes highly important for the owner to have real-time data concerning the health of his business. The Small business owner should measure and track the key performance indicators crucial to the success of his organization. These important KPIs provide vital decision-making information.
KPIs can be defined as measure that provides managers with the most important performance information to enable them to understand the performance level of the organization.
Benefits to End user:
- Inbuilt KPI’s across different Industry verticals: As part of our Product Design and Development, experience of working in different industry verticals, we have inbuilt KPI’s across different industry verticals.
- Monitor and fix problems associated with the success rate of your organization KPIs.
- In addition, KPIs can create a type of benchmarking within one’s business.
- Business person can see the present quality of their business and with the use of KPIs, they can envision the business they want to become; they help companies become what they deem the epitome of success through the process of managing, monitoring and analysis
- Successful companies can proactively plan and manage continued success with KPIs