Smart KPIs (Key Performance Indicators) are needed for companies, planning to execute an equally smart corporate strategy. This is especially true for companies that are data- driven disruptors, such as Uber, Alibaba, Airbnb and Amazon. Digitally savvy companies have flipped over the traditional way of framing KPIs. These KPIs have now become the central organizational tenets. Data and business analytics now need to form a key cog in the same. The cost of acquiring new customers may also be offset to a large extent if these KPIs are well- defined. There is also a KPI Virtuous Cycle. This comprises of data governance, decision rights and the KPIs themselves. The first of these- data governance- is also related to the analytics earlier mentioned. Decision rights involve both the human as well as machine decisions.

Source:https://sloanreview.mit.edu/article/smart-strategies-require-smarter-kpis/

Uploaded Date:28 September 2019