Businesses succeed by making the most of their data. It’s important to not only be evaluating your teams and employees, but also your business intelligence metrics too. Keeping on top of ensuring you are getting the most of your data isn’t always a clear process. How often you do evaluate will keep you on top and competitive in the markets.
On a broad scope, most companies opt to perform an evaluation on a quarterly basis. Sometimes this is monthly when factors like a new marketing campaign or team changes come in. You can break this down further depending upon individual teams; many BI software and tools offer very niche analysis of data sets.
Who are the business intelligence metrics used by or influenced by? The person or team that these metrics involve should be the ones either tracking them or being made aware of them regularly. If individuals or teams have access to KPI tracking software this allows them to evaluate themselves as they see fit.
There are multiple benefits as to why. Overall it is to gain essential insight into operations and performance of different areas of the business. Performing an evaluation more often can also help catch issues or, using AI, predict if targets might be unmet. Every business understands that evaluating KPIs is vitally important, but how often is the real question.
How Often Should You Measure Business Intelligence Metrics
Reiterating on the points above. On average, quarterly seems a good option, monthly if you want to keep on top of things or if new plans are developing. Teams can evaluate themselves outside of the business as a whole, even right down to individuals themselves.
The frequency that you evaluate comes down to the when, who and why. Talking to your teams or those in managerial positions can help assess how often to perform these. You want to ensure your business is equipped with the correct tool for evaluating BI metrics.
Custom Business Intelligence Software
Implementing a custom business intelligence solution for measuring metrics has been the choice for many companies. You can have bespoke reports and analytics produced about your businesses procedures, workflow, sales and even more metrics you care about.
Custom solutions also come with dashboards to display live metrics, so no need to always wait till the end of the month or wait for a generated report. You can view the details you need as you go, this allows for users to design their own metrics further allowing for custom information dashboards and reports.
At Axis Software Dynamics we want to help you get the most from your business intelligence metrics. Contact us to discuss what we can do to ensure you are meeting targets and achieving your goals by empowering your data.