Improving the customer experience using big data customer-centric measurement...Business Over Broadway
This presentation provides an overview of some of the content of my new book, TCE: Total Customer Experience. In the presentation, I discuss customer experience management, customer loyalty, the optimal customer survey, the value of analytics and using a Big Data customer-centric approach to improve the value of all your business data
How to Introduce Operational Excellence in your Organisation?Tina Arora
This presentation will help you present to the management the need and benefits of introducing Operational Excellence as a department in your Organisation.
It can be modified to suit the advocacy in any industry - be it Financial services, BPO, LPO, KPO, Domestic call centres, Manufacturing, Consumer Goods, Retail, etc.
Improving the customer experience using big data customer-centric measurement...Business Over Broadway
This presentation provides an overview of some of the content of my new book, TCE: Total Customer Experience. In the presentation, I discuss customer experience management, customer loyalty, the optimal customer survey, the value of analytics and using a Big Data customer-centric approach to improve the value of all your business data
How to Introduce Operational Excellence in your Organisation?Tina Arora
This presentation will help you present to the management the need and benefits of introducing Operational Excellence as a department in your Organisation.
It can be modified to suit the advocacy in any industry - be it Financial services, BPO, LPO, KPO, Domestic call centres, Manufacturing, Consumer Goods, Retail, etc.
Aldiablos InfoTech started building the ways for our esteemed clients since 2010.
Aldiablos Technologies is one of the leading BPO in Ahemdabad, Gujrat believes
in innovation and quality services and serves the finest & well-known INDIA,USA,
UK, Australia and Singapore based clients.
Physician schedule optimization model - Endeavor AnalyticsEndeavor Management
How can you meet organizational revenue needs while addressing physician preferences? In this presentation, we review our approach to creating an physician schedule optimization model that assembles and predicts the impact of schedule changes on patient revenue against a series of constraints and variables.
It's like a dating site to match physicians and consumers.
Customer satisfaction is a critical measure of success for all shared services organizations. “Customer Satisfaction” is the fifth session of a HR Shared Services learning series that ScottMadden is presenting in conjunction with Shared Services and Outsourcing Network (SSON). Part five covers approaches and techniques for measuring satisfaction and we describe key dimensions of satisfaction. The presentation includes trends in customer satisfaction data from ScottMadden’s shared services customer surveys ranging from baseline surveys conducted pre-launch to on-going surveys for mature shared services organizations.
For more information, please visit www.scottmadden.com or http://www.scottmadden.com/insight/499/shared-services-customer-satisfaction.html.
Technology is a key enabler for achieving the synergies and savings associated with a shared services delivery model and are important tools for running an HR service center. This is the second session in an HR Shared Services learning series that ScottMadden presented in conjunction with SSON. In this session, we reviewed a range of HR technologies to consider as you plan your shared services operation. We discuss the key functions of different types of technologies, important requirements and tips for evaluating different solutions, and guidelines for estimating technology costs.
For more information, please visit www.scottmadden.com.
The purpose of this presentation is providing an overview of the main approaches in using big data: data focus vs. business analytics focus. The following topics will be covered:
- Why getting data should not be a starting point in business analytics, and why more data not always result in more accurate predictions
- The simulation analytics methodology in comparison to machine learning and data science approach
- Examples of two business cases:
(i) Healthcare: Pediatric Triage in a Severe Pandemic-Maximizing Population Survival by Establishing Admission Thresholds
(ii) Banking & Finance: Analysis of the staffing and utilization of a team of mutual fund analysts for timely producing ‘buy-sell’ reports
How ITIL-based IT Help Desk can help small and medium businessesServiceDesk Plus
Businesses Must Grow, Not Problems
Everybody knows Bob! Bob works in the IT department of a Financial Services company. When
the Office staff have a problem, they call him and say, “Hey Bob, I have a situation here, Can
you fix it”. Bob knows all the employees by name and their assets details. He fixes all problems
and runs a great show. The business is going great and the company expands adding more
employees providing them more IT Services. Can Bob still run the show? Let us see how
ITILbased Help Desk Software can help Bob and businesses with a similar IT Help Desk team
to run a great show.
How Business Process Assurance Can Enhance Quality When Applying Agile Method...Cognizant
As organizations increasingly go digital, implementing business process assurance (BPA) in an Agile development environment helps ensure that continuity is maintained, and that quality and speed are balanced.
ERP Health Check: Is Your Business at Risk with Your Legacy System?Jeff Carr
Time for your check up? It is if you seek to ascertain the value of current business processes, along with the risks your organization likely faces with legacy or outdated ERP.
This presentation shares key considerations for an ERP “health check-up” which is at the core of your business. Understand the measures of the maturity and health of your system as you begin thinking about upgrading or replacing standalone systems and manual spreadsheets now used to run key business functions.
Customer satisfaction is a critical measure of success for all shared services organizations. This is the fifth session of a HR Shared Services learning series that ScottMadden is presenting in conjunction with Shared Services and Outsourcing Network (SSON). Part five covers approaches and techniques for measuring satisfaction and we describe key dimensions of satisfaction. The presentation includes trends in customer satisfaction data from ScottMadden’s shared services customer surveys ranging from baseline surveys conducted pre-launch to on-going surveys for mature shared services organizations.
Innovative Procurement Strategies for Thriving in a Networked EconomySAP Ariba
Building an agile procurement organization requires a focus on value, performance and capabilities.
Presented by Amy Fong – Senior Director, Procurement Executive Advisory - The Hackett Group
Select our content ready Vendor Management PowerPoint Presentation Slides for vendor evaluation and selection. Describe the various activities included in researching and sourcing vendors with the help of this seller evaluation presentation deck. Supplier evaluation process PowerPoint complete deck comprises of professional slides such as determine company requirements, search appropriate vendors, vendors classification, request for vendors proposal, selection of vendor operating model, the selection process for vendors, vendor selection timeline,30-60-90-day plan, vendors evaluation matrix, negotiations strategic planning, to name a few. Manage vendors and improve their impact on business using the supplier management process PPT visuals. Furthermore, our compressive presentation helps executives to present the vendor rating criteria, quality delivery service, and price. Demonstrate a step by step process of vendor selection and check out the supplier’s capabilities against your needs. Download vendor evaluation process presentation templates to unlock efficiency and drive more value from a vendor relationship. Clearly explain company guidelines with our Vendor Management Powerpoint Presentation Slides. It helps convey instructions. https://bit.ly/3BbGqqF
Aldiablos InfoTech started building the ways for our esteemed clients since 2010.
Aldiablos Technologies is one of the leading BPO in Ahemdabad, Gujrat believes
in innovation and quality services and serves the finest & well-known INDIA,USA,
UK, Australia and Singapore based clients.
Physician schedule optimization model - Endeavor AnalyticsEndeavor Management
How can you meet organizational revenue needs while addressing physician preferences? In this presentation, we review our approach to creating an physician schedule optimization model that assembles and predicts the impact of schedule changes on patient revenue against a series of constraints and variables.
It's like a dating site to match physicians and consumers.
Customer satisfaction is a critical measure of success for all shared services organizations. “Customer Satisfaction” is the fifth session of a HR Shared Services learning series that ScottMadden is presenting in conjunction with Shared Services and Outsourcing Network (SSON). Part five covers approaches and techniques for measuring satisfaction and we describe key dimensions of satisfaction. The presentation includes trends in customer satisfaction data from ScottMadden’s shared services customer surveys ranging from baseline surveys conducted pre-launch to on-going surveys for mature shared services organizations.
For more information, please visit www.scottmadden.com or http://www.scottmadden.com/insight/499/shared-services-customer-satisfaction.html.
Technology is a key enabler for achieving the synergies and savings associated with a shared services delivery model and are important tools for running an HR service center. This is the second session in an HR Shared Services learning series that ScottMadden presented in conjunction with SSON. In this session, we reviewed a range of HR technologies to consider as you plan your shared services operation. We discuss the key functions of different types of technologies, important requirements and tips for evaluating different solutions, and guidelines for estimating technology costs.
For more information, please visit www.scottmadden.com.
The purpose of this presentation is providing an overview of the main approaches in using big data: data focus vs. business analytics focus. The following topics will be covered:
- Why getting data should not be a starting point in business analytics, and why more data not always result in more accurate predictions
- The simulation analytics methodology in comparison to machine learning and data science approach
- Examples of two business cases:
(i) Healthcare: Pediatric Triage in a Severe Pandemic-Maximizing Population Survival by Establishing Admission Thresholds
(ii) Banking & Finance: Analysis of the staffing and utilization of a team of mutual fund analysts for timely producing ‘buy-sell’ reports
How ITIL-based IT Help Desk can help small and medium businessesServiceDesk Plus
Businesses Must Grow, Not Problems
Everybody knows Bob! Bob works in the IT department of a Financial Services company. When
the Office staff have a problem, they call him and say, “Hey Bob, I have a situation here, Can
you fix it”. Bob knows all the employees by name and their assets details. He fixes all problems
and runs a great show. The business is going great and the company expands adding more
employees providing them more IT Services. Can Bob still run the show? Let us see how
ITILbased Help Desk Software can help Bob and businesses with a similar IT Help Desk team
to run a great show.
How Business Process Assurance Can Enhance Quality When Applying Agile Method...Cognizant
As organizations increasingly go digital, implementing business process assurance (BPA) in an Agile development environment helps ensure that continuity is maintained, and that quality and speed are balanced.
ERP Health Check: Is Your Business at Risk with Your Legacy System?Jeff Carr
Time for your check up? It is if you seek to ascertain the value of current business processes, along with the risks your organization likely faces with legacy or outdated ERP.
This presentation shares key considerations for an ERP “health check-up” which is at the core of your business. Understand the measures of the maturity and health of your system as you begin thinking about upgrading or replacing standalone systems and manual spreadsheets now used to run key business functions.
Customer satisfaction is a critical measure of success for all shared services organizations. This is the fifth session of a HR Shared Services learning series that ScottMadden is presenting in conjunction with Shared Services and Outsourcing Network (SSON). Part five covers approaches and techniques for measuring satisfaction and we describe key dimensions of satisfaction. The presentation includes trends in customer satisfaction data from ScottMadden’s shared services customer surveys ranging from baseline surveys conducted pre-launch to on-going surveys for mature shared services organizations.
Innovative Procurement Strategies for Thriving in a Networked EconomySAP Ariba
Building an agile procurement organization requires a focus on value, performance and capabilities.
Presented by Amy Fong – Senior Director, Procurement Executive Advisory - The Hackett Group
Select our content ready Vendor Management PowerPoint Presentation Slides for vendor evaluation and selection. Describe the various activities included in researching and sourcing vendors with the help of this seller evaluation presentation deck. Supplier evaluation process PowerPoint complete deck comprises of professional slides such as determine company requirements, search appropriate vendors, vendors classification, request for vendors proposal, selection of vendor operating model, the selection process for vendors, vendor selection timeline,30-60-90-day plan, vendors evaluation matrix, negotiations strategic planning, to name a few. Manage vendors and improve their impact on business using the supplier management process PPT visuals. Furthermore, our compressive presentation helps executives to present the vendor rating criteria, quality delivery service, and price. Demonstrate a step by step process of vendor selection and check out the supplier’s capabilities against your needs. Download vendor evaluation process presentation templates to unlock efficiency and drive more value from a vendor relationship. Clearly explain company guidelines with our Vendor Management Powerpoint Presentation Slides. It helps convey instructions. https://bit.ly/3BbGqqF
[DSC MENA 24] Ahmed_Refaay_- Where to Start Your Data Analytics Journey.pptxDataScienceConferenc1
The world of data analytics is booming, offering exciting opportunities to those who can unlock the power of information. This talk will equip you with a roadmap to kickstart your data analytics journey. We'll explore three key areas to empower your beginning: Business Acumen: Gaining a business understanding is crucial. We'll discuss how to translate business problems into data-driven solutions, ensuring your analysis is relevant and impactful. Six Sigma Foundations: This problem-solving methodology can be a valuable asset. We'll delve into the basic principles of Six Sigma and how they can improve your data analysis approach, leading to more efficient and accurate insights. Data Analytics Fundamentals: We'll introduce essential data analysis concepts like data wrangling, visualization, and basic statistics. Understanding these fundamentals will equip you to handle and interpret data effectively. By combining business acumen, Six Sigma principles, and foundational data analysis skills, you'll be well-positioned to embark on a rewarding data analytics journey. This talk will provide a clear starting point and ignite your curiosity to explore this dynamic field further. at the end we shall share some business cases from our success stories.
This presentation looks at the different sources of data that will help to inform Senior Executives about the current quality of IT services overall and help make the right decisions about future IT investment priorities?
Metrics to Maturity, Intelligence for Innovation: Your Value PropositionCherwell Software
Managing the perception of value is a key strategic initiative that solidifies the business case for further investment in an organization’s service desk. However, metrics are the key to achieving this difficult and challenging proposition. Taking a segmented approach to metrics can bring speed and relevancy to reports and dashboards by empowering the user’s data literacy and the organization’s overall strategic goals. This session will explain how correctly managing metrics for maturity can go hand-in-hand with innovation and value. Status quo BI initiatives will no longer be good enough for IT to maintain its value proposition. The IT organization should manage the user’s perception of value with business intelligence and metrics.
Professional Performance Metrics | A Framework to Optimize decision Making | ...Muhammad Nizam Uddin
Professional Performance Metrics: A framework to optimize decision making. A performance metric measures an organization's behavior, activities, and performance.It assesses how well workers are doing their respective tasks and how companies are accomplishing their objectives. It provides hard data and gives off outcomes that appraise clearly defined quantities within a range that facilitates improvement and upgrading. Ideally, good performance metrics form the basis for better achieving a small business' overall goals.
Chapter 10 Tools and Techniques for Quality Management.pptDr. Nazrul Islam
QMS have sub-elements, or tools, that enable users to tailor its use to specific project needs. There are seven conventional QMS tools: flow charts, Ishikawa diagrams, checklists, Pareto charts, histograms, scattergrams, and control charts.
Tools and Techniques for Quality ManagementNazrul Islam
The tools and techniques most commonly used in Quality management and process improvement are: Cause and effect diagram. Control Charts. Histogram. Pareto Charts.
Hierarchical Digital Twin of a Naval Power SystemKerry Sado
A hierarchical digital twin of a Naval DC power system has been developed and experimentally verified. Similar to other state-of-the-art digital twins, this technology creates a digital replica of the physical system executed in real-time or faster, which can modify hardware controls. However, its advantage stems from distributing computational efforts by utilizing a hierarchical structure composed of lower-level digital twin blocks and a higher-level system digital twin. Each digital twin block is associated with a physical subsystem of the hardware and communicates with a singular system digital twin, which creates a system-level response. By extracting information from each level of the hierarchy, power system controls of the hardware were reconfigured autonomously. This hierarchical digital twin development offers several advantages over other digital twins, particularly in the field of naval power systems. The hierarchical structure allows for greater computational efficiency and scalability while the ability to autonomously reconfigure hardware controls offers increased flexibility and responsiveness. The hierarchical decomposition and models utilized were well aligned with the physical twin, as indicated by the maximum deviations between the developed digital twin hierarchy and the hardware.
Hybrid optimization of pumped hydro system and solar- Engr. Abdul-Azeez.pdffxintegritypublishin
Advancements in technology unveil a myriad of electrical and electronic breakthroughs geared towards efficiently harnessing limited resources to meet human energy demands. The optimization of hybrid solar PV panels and pumped hydro energy supply systems plays a pivotal role in utilizing natural resources effectively. This initiative not only benefits humanity but also fosters environmental sustainability. The study investigated the design optimization of these hybrid systems, focusing on understanding solar radiation patterns, identifying geographical influences on solar radiation, formulating a mathematical model for system optimization, and determining the optimal configuration of PV panels and pumped hydro storage. Through a comparative analysis approach and eight weeks of data collection, the study addressed key research questions related to solar radiation patterns and optimal system design. The findings highlighted regions with heightened solar radiation levels, showcasing substantial potential for power generation and emphasizing the system's efficiency. Optimizing system design significantly boosted power generation, promoted renewable energy utilization, and enhanced energy storage capacity. The study underscored the benefits of optimizing hybrid solar PV panels and pumped hydro energy supply systems for sustainable energy usage. Optimizing the design of solar PV panels and pumped hydro energy supply systems as examined across diverse climatic conditions in a developing country, not only enhances power generation but also improves the integration of renewable energy sources and boosts energy storage capacities, particularly beneficial for less economically prosperous regions. Additionally, the study provides valuable insights for advancing energy research in economically viable areas. Recommendations included conducting site-specific assessments, utilizing advanced modeling tools, implementing regular maintenance protocols, and enhancing communication among system components.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
1. “Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Chapter 8
Measures, Metrics, KPIs, and
Performance Management
2. Learning Objectives and Learning Outcomes
Learning Objectives Learning Outcomes
Measures, Metrics, KPIs and Performance
Management
1. To introduce terminology associated with
measurement
2. Need for a system of measurement
3. Characteristics of measures
4. Process used for defining good measures
5. Relationship of these measures to individuals/
teams/departments and the entire company
(a) Ability to explain the role of
Metrics in the
Business/Functions
performance management
and decision making
(b) Ability to identify Metrics
and Indicators in a given
business scenario
(c) Ability to model a business
scenario, identify the
metrics, indicators and
make recommendations to
achieve the business goal
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
3. Session Plan
Lecture time : 90 minutes approx.
Q/A : 15 minutes
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
4. Agenda
• Measurement system terminology
• Salient attributes of a good metric
• SMART test for ensuring metric relevance to business
• Supply chain associated with the metric
• Fact-based decision making and KPIs
• Few sample KPIs used by Human Resource (HR) division
• Mapping metrics to business phases
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
5. Measurement System Terminology
Data – It is a collection of facts which have similar attributes or characteristics.
“Phone number” is a named collection of, say, mobile phone numbers of your friends.
Measure – Data with associated unit of measure (UOM) is typically termed as measure.
“Lab hours per month” has a numeric data associated with “time duration”.
Metric – It is a system of measures based on standard UOM with a business context. The term
business metric also refers to the same.
“Product defect rate” by city is an example of measuring “what percentage of goods
was returned by customers in different cities”.
.
Indicator – It is a business metric used to track business results or success/performance.
“Call drop frequency” for mobile phone users is an indicator of user dissatisfaction.
Index – It consists of a composite set of indicators used to address the overall health of business
operations.
“Customer satisfaction index” measured on a scale of 1 to 5.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
6. Measurement System Terminology
A metric data when properly defined includes four components:
• Subject – This measure is about a customer, a product, a supplier, an
employee, etc.
• Quantum – It is the value of the measure, such as cost, frequency,
duration, amount, etc.
• Stratum – It is the grouping consideration expressed like By Location, By
Quarter, By Customer, etc.
• Application – Value compared with similar measurements like previous
month, forecast, target, etc.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
7. Few Salient Attributes of a Good Metric
Metric Attribute Remarks Example
Name Metric should be assigned a simple, easy-
to-remember name. Do not include codes,
long words, and unit of measure.
1. eLearning Training Days
2. Average Lines of Code
Abbreviation Short form used inside the organization. eTD/ ALOC in above cases.
Description Provide explanation to help users
understand more contexts and comprehend
the metric unambiguously.
eLearning Days – Total number of full-time
days equivalent spent in training using
online course delivery system. Users may
log-in any number of times and duration of
each session is captured in minutes.
Unit of Measure
(For data capture)
The commonly measured base unit needs to
be included.
In the eLearning example, the unit is
“Minutes”.
Scale Commonly reported granularity of unit of
measure. We need to capture the conversion
formula. Simple multiples like 1000 (K) or
M (Million) are commonly used.
In the eLearning example as the data
storage granularity is “Days”, the scale is
“minutes/(60 * 8)” assuming 8 hours is a
standard training day.
Metric Owner Position/department responsible and
accountable for the metric
The training support manager in the training
department could be an owner.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
8. SMART Test for Ensuring Metric Relevance to Business
Test Test Focus
Specific Metric is clearly defined, articulated, and understood by all
stakeholders, and is triggering action.
Measurable Someone in the organization must have the ability/instrumentation to
accurately, easily and regularly measure the actual value at reasonable
cost and technology. Think if a clinical thermometer would cost USD
1000!!
Attainable There will be no metric without target. This target may be stretched but
must be attainable with the current level of people efforts and
processes. Speed by cycle can’t be enhanced to 300 kmph no matter
whatever be the technology used!
Result-
oriented
The metric must motivate team members performing the work. In
businesses results are crucial.
Time-bound All actual values of metrics should be traceable to the date/time when
the actual value measurement was taken. The instrument used for
measurement also has a key role in sampling, accuracy, speed and
correctness that can be verified in other ways.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
9. Supply Chain Associated with Metrics
Component of Measurement Supply Chain Contribution
Entities to be measured Includes employee, vendor, product, customer,
asset, expense category, sales promotion, service
feedback…
Instrumentation Measurement data, data capture and storage in
raw form
Raw material Reference data, definitions, benchmarks, limits …
Sub-assemblies Measures with unit, format, storage structure,
archives…
Product Business metrics approved, communicated and
measured, verified and analyzed with rigor
Metrics Delivery Reports, dashboards, scoreboards, alerts, Flash
updates
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
10. Supply Chain Associated with Metrics
Component of Measurement Supply Chain Contribution
Business Activity Areas
(Decisions/Actions)
Plan review, tracking project progress,
sales campaign analysis, profit
forecast
Business Application Budget control, quality improvement,
innovation projects
Business Value Business results meeting and
exceeding plan
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
11. Fact Based Decision Making and KPIs
KPIs are objective, measurable attributes of business performance, which
assist in informed decision-making.
KPIs should be:
– Relevance and functionality – The KPIs chosen should be directly related to
business results that the company is trying to produce in the specific business
function. Like, your body temperature measurement can only indicate whether
you have fever or not, but can say nothing about your blood pressure!
– Understandable – Chosen KPIs must be defined unambiguously. A KPI needs to
be understood in one and only one way by all stakeholders. It must be
documented, and its definition must be easily accessible to all users.
– Reliability and Credibility – The value of KPIs needs to be authentic and
should be validated as “trusted” or “dependable”. Someone is going to base an
important decision on the chosen metric. Adequate checks are needed to declare
data as trustworthy. This also means that the data must represent the “single
version of truth”.
– Abuse-proof – An abuse-proof measure is unlikely to be used against intended
purpose or individual(s) involved in the measurement process.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
12. Few Sample KPIs Used by the Human Resources Division
• Average time to recruit.
• Average open time of job positions.
• No. of responses to open job positions.
• No. of interviews to fill up open job positions.
• No. of offers that were made.
• No. of responses to the offers made.
• % of vacancies that were filled within x time.
• % of new employees that remained after x time.
• % of new employee satisfaction rate.
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
13. Answer a Quick Question
How would you aggregate KPIs for selecting sports teams for tournaments
at college, state, regional, national and international levels?
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
14. Answer a Quick Question
You are the owner of a retail chain. You wish to enhance the productivity
of your store’s employees. What metrics will you define to achieve this
objective?
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
15. Mapping Metrics to Business Phases
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
16. Ask a few participants of the learning program to summarize the lecture.
Summary please…
“Fundamentals of Business Analytics”
RN Prasad and Seema Acharya
Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
