What Is Success?
What is success?
This question has spawned many heated debates and rightly so. For every individual and every company, success is just a bit different. Luckily, as a business intelligence and data-centric organization, we have a fairly simple answer. Success is determining the key metrics that measure your organization’s goals and demonstrating an ability to influence those goals. Put another way, success is improvement in any metric you want so long as it can be measured.
Influencing your success metric
Once you can measure your success metric you’ll find ways to influence it. Identifying the right levers to pull typically comes out of correlation measurements. In correlation measurements, an analyst determines the relationship between an input and an output. For example, if you know your organization’s success is linked to your technicians’ ability to upsell, there will be a strong correlation between your success metric and upsell numbers. Proof of analysis could come in the form of an upsell program where a few technicians are incentivized to upsell with the promise of reward. If the data shows an uptick in profit for those technicians, then you’d have demonstrated the ability to affect the output by modifying inputs.
Benefits of understanding your success metrics
At an organizational level, having a solid understanding of the factors influencing success for your company allows you to have a finger on the pulse of what your organization will look like in the short and medium term. You know how many customer leads are in the pipeline, the conversion rate, and the upsell rate. Based on your knowledge of your expenses and the factors that play into expense management, you can control when and how you’re spending money to ensure proper delivery for the customers in the pipeline. Continued monitoring of these scenarios proves your ability to influence the environment which then gives you long-term forecasting ability.
In short, success is having the ability to affect metrics using processes and controls to influence factors in the desired direction. As specialists in measuring these inputs and the corollary outputs, Systematic Solutions helps you create metrics to drive toward success.