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Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
2. 3. 4. 5.
(a) Ability to explain the role of Metrics in the Business/Functions performance management To introduce terminology associated with and decision making measurement (b) Ability to identify Metrics and Indicators in a given Need for a system of measurement business scenario (c) Ability to model a business Characteristics of measures scenario, identify the metrics, indicators and Process used for defining good measures make recommendations to achieve the business goal Relationship of these measures to individuals/ teams/departments and the entire company
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Session Plan
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Agenda
Measurement system terminology Salient attributes of a good metric SMART test for ensuring metric relevance to business Supply chain associated with the metric Fact-based decision making and KPIs Few sample KPIs used by Human Resource (HR) division
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Application Value compared with similar measurements like previous month, forecast, target, etc.
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Remarks
Example
Abbreviation Description
Metric should be assigned a simple, easy- 1. eLearning Training Days to-remember name. Do not include codes, 2. Average Lines of Code long words, and unit of measure. Short form used inside the organization. eTD/ ALOC in above cases. Provide explanation to help users eLearning Days Total number of full-time understand more contexts and comprehend days equivalent spent in training using the metric unambiguously. online course delivery system. Users may log-in any number of times and duration of each session is captured in minutes. The commonly measured base unit needs to In the eLearning example, the unit is be included. Minutes. In the eLearning example as the data storage granularity is Days, the scale is minutes/(60 * 8) assuming 8 hours is a standard training day.
Unit of Measure
(For data capture) Scale Commonly reported granularity of unit of measure. We need to capture the conversion formula. Simple multiples like 1000 (K) or M (Million) are commonly used. Metric Owner Position/department responsible accountable for the metric
and The training support manager in the training department could be an owner.
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Test Specific
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
How would you aggregate KPIs for selecting sports teams for tournaments at college, state, regional, national and international levels?
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
You are the owner of a retail chain. You wish to enhance the productivity of your stores employees. What metrics will you define to achieve this objective?
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.
Fundamentals of
Summary please
Fundamentals of Business Analytics RN Prasad and Seema Acharya Copyright 2011 Wiley India Pvt. Ltd. All rights reserved.