Metrics And Analytics Paper

Decent Essays

Metrics and Analytics

This paper speaks about how important metrics are to any organization that wants to be successful and profitable. By implementing metrics, an organization can track issues that arise and can use the data within the metrics to draft a solution before they cause major problems within the company.

Chosen Metrics There are hundreds of metrics that can be used for an organization. Metrics can be used for manufacturing, sales organizations, construction companies and the service industry. Examples of metrics for a supply chain are, Inventory turns, cycle times, DPMO, benchmarking, transportation, backorder reporting and fill rate (Taras, 2016). Metrics that can aid in increasing revenue and cash flow are unbilled revenue, unearned revenue, deferred revenue, and static backlog (Ops, 2012).
I think the three performance metrics that are important to any organizations are customer satisfaction score, employee satisfaction score cash flow, productivity and gross margin (Ops, 2012). The customer satisfaction score is a metric that is used to gage how satisfied a customer is when a service is provided or product is purchased by them. This can be tracked by performing surveys to consumers or simply mailing out a satisfaction card.
The employee satisfaction score metric is used to access how employees are performing and how satisfied they are at their current work place. Surveys can be utilized to track this information. An unhappy employee can affect performance

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