What are the different types of power metrics?
performance metrics define quantitatively the performance of various business activities. Power metrics include metrics used to analyze business, marketing and sales, financial performance, customer management and environmental metrics. This list is not inclusive because metrics may include anything in the activity of the company that can be measured analytically. An example would be to use a meter of power to determine which shifts are more productive or less, or how many men were lost due to injuries in the workplace. Another example would be production production measured against performance incentives.
Quantitative data on productivity can be used to justify the cost of reworking, for example, or to reconfigure production operations in full. Metrics can also detect narrow places, check in the system or excess waste. Some companies significantly reduced production waste by monitoring and analyzing the discarded material and then these metrics using the LORuriously future orders for goods and materials up or down.
Marketing metrics can be used to measure product range performance, sales team performance, competitor analysis or assessment of demand and consumer involvement. Responses to advertising campaigns and data derived from public opinion polls are also examples of metric types that are used to quantify the company's marketing efforts. The article in the CFO magazine stated in 2007 that Best Buy® discovered by a 0.1% increase in customer involvement by CZK 100,000 (USD) an increase in the annual business income. The financial metrics analyze fiscal stroffice and performance in terms of cash flows, profitable range, overhead costs, cash reserves and other similar quantitative data.
stakeholders such as the defense groups consumeLU or shareholders of the company can look at society for social responsibility, as it is revealed through the analysis of real social performance. Such environmental metrics can also monitor social responsibility by calculating the environmental trace of society. Environmental metrics can also quantify the impact of weather patterns on productivity or how the local labor market can affect recruitment and maintaining jobs.
feedback from the performance metrics provides a firm evidence used by the company to map a strategy. The collection of raw data itself is insufficient. The key to unlocking valuable nuggets of information is to pair one set of metrics to another. Only then are the relationships of one key metric to the other.