The first step on the road towards the optimization based on data is to determine what metrics you should monitor. In other words: what are the questions you need to answer?
The definition of the metrics more important to the sales strategy of your company prevents information overload and ensures that employees focus on the KPI more critical.
This important first step is often where we see companies struggle more. Many try to focus on too many different metrics without a focus on those that really matter.
Our best advice is to comenzar with your objectives or key results that determine your success. Once you know, you can go back to a strategy by clarifying the activities that have the greatest impact in achieving those goals.
With the goal in mind, it is easier to filter out the relevant data from those that are not so relevant.
Some questions to help you start
For more than each company is different, these questions are an example of what that can help you determine the KPIS of a company retail.
- How do they affect the suppliers and distributors elected the rates of rotation in their locations?
- How does the introduction of each new product to the sales of existing product lines? Is it the same in each location?
- Do you keep more inventory on hand of what you need? How can you reduce your inventory requirements?
- Where are the setbacks in its supply chain? How can you apply what you know about the supply chain from one location to correct problems in another location?
- How you can deliver more efficiently the workforce between your locations?
The questions are the keys during the process of determining the KPI correct. Often, the answers to a question leads to more questions about why the numbers are what they are.
Monitor KPI correct it's just the first of several steps in the construction of a retail organization's data-based, but each additional step depends on these figures to have success.
The bad decisions are the direct result of incorrect data, therefore, choose their KPI carefully.
Finally, define what areas of your business are most important for your success, and how can a better understanding of the metrics to provide better results for your company.
