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MEASURING THE SUCCESS OF STRATEGIC INITIATIVES - Coggle Diagram
MEASURING THE SUCCESS OF STRATEGIC INITIATIVES
Metrics are detailed measures that feed KPIs
Key Performance Indicator (KPIs)
:check: measures that are tied to business drivers
Performance metrics fall into the nebulous area of business intelligence that is neither technology, nor business centered, but requires input from both IT and business professionals
Efficiency IT metric
:check: measures the performance of the IT system itself including throughput, speed, and availability also focuses on the extent to which an organization is using its resources in an optimal way, “Doing things right”
Throughput
the amount of information that can travel through a system at any point in time
Speed
the amount of time a system takes to perform a transaction
Availability
the number of hours a system is available for users
Accuracy
the extent to which a system generates correct results when executing the same transaction numerous times
Web traffic
includes number of page views, number of unique visitors, and time spent on a Web page
Response time
the time it takes to respond to user interactions such as a mouse click
Effectiveness IT metric
:check: measures the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases as well as focuses on how well an organization is achieving its goals and objectives, “Doing the right things”
Usability
Customer satisfaction
measured by such benchmarks as satisfaction surveys, percentage of existing customers retained, and increases in revenue dollars per customer.
Conversion rates
the number of customers an organization “touches” for the first time and persuades to purchase its products or services. This is a popular metric for evaluating the effectiveness of banner, pop-up, and pop-under ads on the Internet.
Financial
such as return on investment (the earning power of an organization’s assets), cost-benefit analysis (the comparison of projected revenues and costs including development, maintenance, fixed, and variable), and break-even analysis (the point at which constant revenues equal ongoing costs).
the ease with which people perform transactions and/or find information. A popular usability metric on the Internet is degrees of freedom, which measures the number of clicks required to find desired information.
Benchmarking
:check: a process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance
Security
Web site metrics
Abandoned registrations
Abandoned shopping carts
Click-through
Conversion rate
Cost-per-thousand (CPM)
Page exposures
Total hits
Unique visitors
Supply Chain Management (SCM) metrics
Customer order promised cycle time
Customer order actual cycle time
Back order
Inventory replenishment cycle time
Inventory turns (inventory turnover
Customer Relationship Management (CRM) metrics
Sales Metrics
Service Metrics
BPR and ERP metrics
The balanced scorecard is a management system, (in addition to a measurement system), that enables organizations to clarify their vision and strategy and translate them into action.
It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results.
When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise
Marketing Metrics
:check: an issue for any organization offering products or services over the Internet
