What are KPI’s? How do KPI’s and Metrics make your role successful?
Key performance indicators (KPIs) sets a vital role in almost every organisation and every successful businesses aim to reach and even exceed their organisation goal.
A KPI tracking dashboard collects, groups, organises, visualises and analyses the company’s metrics by giving an overview summary of the performance and level of growth.
Businesses often need KPI tracking dashboards that can give the whole overview of the company’s performance and positioning to regularly meet and even exceed the organisation objectives, a proper and fitting measure must be in place and a KPI report is a reliable source to start. A KPI dashboard is a measurement tool that helps track numbers or performances that you aim to hit.
KPI Dashboards and Metrics
KPIs and metrics complement each other and provides operational calculations / indicators and figures to inform business users across roles to understand how their area or functions are tracking. KPI’s tracks whether a business is hitting specific and measured targets, whilst metrics track process, where a dashboard presents both KPI’s and metrics in the same page view.
The values of dashboards are their ability to provide real time information about the company’s performance in results for users across the business to make quick decisions.
How Dashboards Make a Role Successful
A KPI dashboard provides status overview of the highest priority measure as they occur and consolidate the information under one view – e.g. dashboard. Different stakeholders have different goals and areas to focus. Fitting the right dashboards to provide the right context and specific information is crucial in forming a strategic plan, relying reports and analysing projects or departments performance.
NetSuite SuiteSuccess Pre-Defined Dashboards
NetSuite SuiteSuccess is a templated ERP solution for small to medium sized businesses that provide pre-built dashboards for each user / roles that has all the required KPI’s and metric required to deliver their day to day activities. These show a complete view of the current business status from the dashboard view with the ability to drill through into the underlying records at the detail level. With the help of the pre-defined or user created NetSuite KPI portlets, the dashboard can give an easily understandable view of your business per role in one glance.
- Real time Dashboards
- Pre-packaged or user defined KPI’s, Metrics and Dashboards are clearly defined for each role across sectors within the NetSuite SuiteSuccess solution
- Report Drill through – From Dashboard KPI and report to the underlying business transaction
Unlike any other, NetSuite SuiteSuccess has a powerful inbuilt business intelligence where these KPI’s are built from.
- Dashboards – Operational Intelligence
Drive individual productivity by providing all employees in the company with the real-time intelligence they need to make day-to-day decisions smarter and faster.
- Reporting – Tactical Intelligence
Give users clearly defined focus areas as well as tactical decision support on a periodic or as-needed basis.
- Third part business intelligence (BI) solutions – Strategic Intelligence
Third party Business Intelligence (BI) packages like Tableau or QlikView can draw data from other data repositories and consolidate these with the NetSuite data using an ODBC connector.
Why it’s Important
Every organisation has goals and objectives whether it’s an SME or large enterprises. Key performance indicators (KPIs) are also referred to as “strategic measures”, where these actions and tools of measurements are used to oversee and monitor the progress or standing toward achieving goals and objectives. KPIs are strategic, identifying your KPIs leads to understanding your standing and knowing what’s lacking which directly guide you to a systematic step in forming a successful plan.
Proven and tested that using NetSuite SuiteSuccess Dashboards, KPI’s, Metrics and Analytics reporting can lead you through success by developing strategic actions through the following reasons:
- Real time, actionable business intelligence out of the box
- Consolidated, rationalised data without the data warehouse
- Smarter decisions faster with intelligence you can trust
- Standard and custom-built intelligence tools appropriate for a wide variety of business information users
- Business intelligence that’s usable and manageable