From the mass of available information KPIs tell the “reality” of your Business. The targeted values of those KPIs indicate where you want your business to go; therefore, understanding these and continuously monitoring them is essential for any firm to communicate their goals and understand what it takes to improve them when they are not on target. This is vital to a firm’s sustained success.
Although KPIs may differ from one company or industry to another, in all enterprises these must be aligned with the overall goals of the business, since the first actionable step is to define the most important KPIs and their targeted values.
The following are identified for Engineering Firms:
The first step towards achieving a firm’s goals is defining the right KPIs; the second, using engineering vocabulary, is “To communicate compartments by opening the isolation valves between them, let the process flow through the entire system and balance it as an unit.”
In any modern Business, Information (Data) and Technology are the most valuable asset besides the human asset, and must serve the Business purpose, strategy and vision.
ProgresSum Business Intelligence will break down silos of information across your Business and will empower decision makers to visualize the overall picture to support strategic, tactical and operational decisions based on facts.