A business metric is any type of measurement used to gauge some quantifiable component of a company's performance, such as return on investment (ROI), employee and customer retention rates, incomes vs outgoings and so on.

Business metrics are part of the broad area of business intelligence, and if designed correctly and bespoke to your business they provide meaningful information to enable business owners and managers make better business decisions.
Business metrics can be employed to transform an organization's mission statement and business strategy into specific and quantifiable goals, and to monitor the organization's performance in terms of achieving those goals.

Business metrics can be distributed to departments and individuals to ensure that every team member is doing their bit to achieve the company objectives.
How many times have you said "we had a bad month last month", sometimes you find this out a month after the bad month which of course is too late to do anything about it! Wouldn't you prefer your team to know that your likely to miss the company target at the end of week 1 rather than the end of the month.

Interested in introducing business metrics to your business to keep one step ahead of your competitors? Please contact us for an informal chat!