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Business Metrics

Data Is Getting Its Overdue Attention

Every business agrees that it should be data-driven. Many businesses claim to be data-driven. Only some businesses are making a genuine investment into data programs. Yet in an article for InformationWeek, Anne Buff writes that she thinks businesses are finally starting to come around to the idea in earnest. She discusses a few reasons why data is finally getting its due. Data in the Spotlight One obvious reason is the plethora of data breach horror …

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Digital Transformation Metrics That Work for Everyone

The standard, time-tested key performance indicators (KPIs) are not so good at measuring the impact of digital transformation, which means new metrics are needed. What types of metrics will work for every business though? In an article for CMO.com, Stephanie Overby discusses metrics that can illuminate three different areas of transformation: Operational improvement Customer experience Financial impact Measured Growth A substantial aspect of operational improvement is whether people are actually buying into the change, so …

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Measure Transformation Success with Digital KPIs

How is your digital transformation going? “Good, I hope,” might be the sincere yet vacant answer. CIOs need to take more conscious steps to establish metrics to gauge transformation progress. In an article for CIO magazine, Clint Boulton explains how “digital KPIs” are fit for this job and shares some advice on how to use them well. Key to Knowing Digital KPIs are “measurable values for evaluating the performance of digital business initiatives.” Depending on …

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4 Steps to Execute a Successful API Strategy

McKinsey finds that upward of $1 trillion in global economic profit is “up for grabs through the redistribution of revenues across sectors within ecosystems,” and APIs are at the heart of it. However, API programs are still far from maturity in many businesses. In an article for McKinsey & Company, Keerthi Iyengar, Somesh Khanna, Srinivas Ramadath, and Daniel Stephens share four steps to help your business develop a worthwhile API strategy: Identify and prioritize the …

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The Struggle with Quality Metrics

Quantifying the value of quality management and broadcasting it across the business is not as intuitive as it sounds. There are still several companies who struggle with measuring their quality metrics. In an article for Quality Digest, Sameer Kadam and Mickey Shah identify four problems that arise and how to handle them: Problems with the consistent capture of quality-related data Problems with non-digital systems of record Problems with storage and retrieval Problems with understanding which …

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How Your Company Can Learn to Make Better Predictions about Anything

Project managers have enough of a headache just making estimations on their projects, but imagine if everyone in your whole organization were better at making predictions on any subject. As it turns out—this is really possible. In an article for Harvard Business Review, Danny Hernandez, data scientist at Twitch, describes how his company’s employees vastly improved their predictive capabilities. Predicting Profitability Twitch, a popular platform for streaming video games, has developed training to benefit anyone …

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4 Steps to Reverse Engineer Your Performance Metrics

Measuring the right things is a hard job in itself. Reverse engineering the process of metric selection would be, in theory, the easiest way to guarantee metrics relate back to strategy. How would you do that though? In a short article for Inc., Robin Camarote proposes her solution. Start from Finish Camarote says to take your end goal and, with the management team, build a flow chart that functions in reverse. You ultimately ask these …

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What CIOs Need to Know about Transformation Gaps

The Hackett Group has released its CIO Agenda for 2017, having surveyed a range of executives in midsize and large enterprises (no precise number of respondents is given) about major IT phenomena this year. In a familiar story, most business leaders understand the scope and power of transformation, but less than 40 percent of their businesses are actually ready to undergo transformation. The Slow Transformation According to the authors, businesses are finally shifting away from …

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5 Steps to Get More Out of Your Organization’s Data

Good data is not a yes-or-no proposition. Put another way, implementing various systems to collect data about employees or processes does not guarantee those systems will be useful. In an article for Harvard Business Review, Jon M. Jachimowicz lists five steps for data collection and use that will more reliably move the business forward: Improve your data quality. Link different data. Analyze your data. Infuse your data with theory. Implement changes and keep track of …

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State of the CIO in 2017: Strategy Rising

Technology may expand at an exponential rate, but the rate of accompanying business change has always been glacial at best. IDG and CIO.com have released their annual State of the CIO report, having surveyed 646 IT leaders. The findings are pretty much what one would expect, but in a good way—CIOs continue to make incremental headway in becoming strategic leaders of their organizations. Strategy versus Function CIOs still watch their costs, manage vendor negotiation, and …

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