Metrics and Actions

Business Performance Metrics, KPIs, etc. are everywhere.  They’ve become a commodity.  Just search Google and a plethora of white papers are available (for free download as long as you give up some personal information) to tell you how to measure your business or create the best metrics for your business.  Now most of these are clever sales pitches to get you to use their BI software solution, but the information is still there.

While it is true traditional metrics are an important first step to improvement, the real difference maker is how you execute upon those metrics.  How long does it take to act on issues that appear in your dashboard and how long does it take to fix those issues?  Metrics like Time-to-Action and Time-to-Completion are second derivatives of the primary metrics in your dashboard and those are the metrics that will really measure the efficiency of your business.  Incorporating them seamlessly into your BI solution is invaluable…or maybe not, I’m sure there’s a third derivative metric to measure that as well.

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