Business Driven Technology

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Project

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A temporary activity a company undertakes to create a unique product, service, or result.

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Metrics

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Measurements that evaluate results to determine whether a project is meeting its goals.

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Critical success factors (CSFs)

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The crucial steps companies perhaps to achieve their goals and objectives and implement their strategies.

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Key performance indicators (KPIs)

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Quantifiable metrics a company uses to evaluate progress toward critical success factors.

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Market share

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The proportion of the market that a firm captures.

Market share = firm's sales / total market sales for the entire industry

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Return on investment (ROI)

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Indicates the earning power of a project.

ROI = profitability of a project / costs

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Best practices

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The most successful solutions or problem-solving methods that have been developed by a specific organization or industry.

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Efficiency MIS metrics

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Measures the performance of MIS itself, such as throughput, transaction speed, and system availability.

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Effectiveness MIS metrics

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Measures the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

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Throughput (Efficiency Metric)

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The amount of information that can travel through a system at any point in time.

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Transaction speed (Efficiency Metric)

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the amount of time a system takes to perform a transaction.

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System availability (Efficiency Metric)

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The number of hours a system is available for users.

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Information accuracy (Efficiency Metric)

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The extent to which a system generates the correct results when executing the same transaction numerous times.

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Response time (Efficiency Metric)

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the time it takes to respond to user interactions such as a mouse click.

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Usability (Effectiveness metric)

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The ease with which people perform transactions and/or find information.

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Customer satisfaction (Effectiveness metric)

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Measured by satisfaction surveys, percentage of existing customers retained, and increases in revenue dollars per customer.

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Conversion rates (Effectiveness metric)

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The number of customers an organization "touches" for the first time and persuades to purchase its products or services.

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Financial (Effectiveness metric)

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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), break-even analysis (the point at which constant revenues equal ongoing costs).

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Benchmarks

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Baseline values the system seeks to attain.

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Benchmarking

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Process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance.

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Internal rate of return (IRR)

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The rate at which the net present value of an investment equals zero.

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Return on investment (ROI)

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Indicates the earning power of a project and is measured by dividing the benefits of a project by the investments.

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Payback method

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Number of years to recoup the cost of an initiative based on projected annual net cash flow.

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Break-even analysis

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Determines the volume of business required to make a profit at the current prices charged for the products or services.

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Website Metrics

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Abandoned registrations, abandoned shopping carts, click-through, conversion rate, cost-per-thousand (CPM), page exposure, total hits, unique visitors

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Supply chain management (SCM) metrics

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Back order, customer order promised cycle time, customer order actual cycle time, inventory replenishment cycle time, inventory turns (inventory turnover).

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Business process re-engineering (BPR) and Enterprise resource planning (ERP) Metrics

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Most difficult to measure, best method is the balanced scorecard

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Balanced scorecard

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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 about both the internal business processes and external outcomes in order to continuously improve strategic performance and results.