4/11/2023 - Technology and Innovation

The Importance of Performance Control

By sol figueroa

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In the business world, it is important to have a clear and accurate view of a company's performance to make informed and strategic decisions.

We face great challenges: the need to adapt to a constantly changing environment and the improvement of operational efficiency.Scanning operations can help address these challenges. Companies that adopt the scanning of operations can make the most of commercial intelligence and use it to improve their business operations and optimize solutions, supported by real-time information.

Implementation recommendations for efficient scanning:

  1. Adopt digital technologies: You can start by adopting digital technologies to manage procedures. This can include process automation, system integration and software solutions implementation.
  1. Recollection of relevant data: It is suggested to collect data relevant to business intelligence. This can include sales data, financial data, customer data and production data.
  1. Analyze the data: a correct data analysis collected to identify patterns, trends and business opportunities. This may include using data analysis tools and business intelligence software.
  1. Use data for decision making: This option helps the data obtained to make validated decisions that can have a positive impact on the company.

Once you have established a digitization of the data, it is necessary to check some questions: what is the purpose of collecting certain data, how can I know if they help me to fulfill some objectives I have established and, above all, know if the data will be useful to make decisions, remember that quantity is not synonymous with quality.

By following the above recommendations, you can maximize the added value of scanning and take advantage of the benefits that well-managed data provides. This results in improving the capacity of companies to adapt to changes in the business environment and, above all, remain competitive in a constantly evolving market. Companies that use digital technologies to manage their operations can respond quickly to market demand changes, adjust their product or service offering, and improve their ability to deliver customized solutions to their customers.

Once the ETL process (Extraction, Transformation and Load) has been debugged or performed, we must follow the business objectives. We need to make measurements of how the performance is programmed versus executed.

The KPIs

Key performance or performance indicators (KPI) can help us solve these deviations that will be presented.

There are several types of KPI that companies can use to evaluate their performance in different areas. Financial KPIs measure the financial performance of a company, such as the profit margin and the return on investment (ROI). Operational KPIs measure enterprise process performance, such as value chain efficiency and customer satisfaction. Human resource KPIs measure employee performance, such as rotation rate and productivity.

This can give an idea that the indicators are handled, but not always what works for a company or entrepreneur, can serve individually, are usually customized, according to the operational need. We also highlight that once implemented and defined use them and are not created by an obligation or requirement of the moment. Another detail to take into account is what are measurable and realistic to achieve, otherwise its use cannot be carried out leading to unawareness of its implementation.

KPIs can be measured and tracked using BI (Business Intelligence or Business Intelligence) tools as the command boards. Command frames are a visual way of presenting corporate information, such as charts and tables, which can be customized according to the company's goals and needs. They can easily identify relevant KPIs and monitor their performance over time.

In short, starting with scanning is the first step, after data collection and verification of its usefulness, we can go monitoring performance with KPIs, one of the main tools in BI .

We hope to generate the enthusiasm needed to start approaching the data world and be able to implement our recommendations.

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sol figueroa

sol figueroa

I am Sol Figueroa, Contadora specialized in artificial intelligence and business intelligence. Integrate to the Commission of Computers and SMEs of CPCE (Professional Council of Economics of Córdoba). I count on a Diploma in New Technologies of UTN Córdoba.

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