Using KPIs and CSFs Podcast

Introduction

KPIs – Key Performance IndicatorsCSFs – Critical Success Factors

Company Background

Paper milling CompanyRelied on individuals selling their raw materials to the companyRun 24 hours Employed 3 sets of employees, 8 hours each

Business Problem

Increasing competition Unreliable sources of raw materialsJob redundancyLack of specialization Inefficient production

Metrics Suggestion

Company goalsNet income ratio/profitCustomers retention and change in number (Adams, 2015).

Metrics in determining the Business success

Company goalsNet income ratio/profitCustomers retention and change in number

Organizational impact of Data, Information, Business Intelligence and Knowledge Evaluation

Definition of termsData – Raw facts or figures collectedInformation – Data are processed, interpreted, organized, structured or presented so as to make them meaningful or useful, they are called information. Information provides context for dataBusiness intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help executives, managers and other corporate end users make informed business decisions.Knowledge – facts, information, and skills acquired through experience or education; the theoretical or practical understanding of a subject.

References

Adams, D. (2015). Well-versed: A powerful guide to business success. St Albans: Panoma Press.Nath, S., Stackowiak, R., & Romano, C. (2017). Architecting the Industrial Internet. Birmingham: Packt Publishing.