Enterprise businesses, large organizations in the public and/or not-for-profit sectors make use of key performance indicators (KPIs), scorecards and data dashboards to, as Dr. Michael Hammer noted in his 2007 article, “The 7 Deadly Sins of Performance Measurement and How to Avoid Them”, to “[design] and [use] metrics to track and improve operating performance.” Oh, if it were only so easy! Dr. Hammer noted in his article that ” . . . there is a widespread consensus that [KPIs, balanced scorecards, data dashboards, etc] measure too much, or too little, or the wrong things, and that, in any event, they don’t use their metrics effectively.” Nevertheless, analyzing operational performance with these tools is a rich area of interest for nearly all businesses and organizations in this class. After all, the search for a means of deriving accurate and useful metrics on business performance that will support predictive modeling is as close as one can likely get to identifying a “search for the holy grail” like endeavor for these prospects. Therefore, top product marketers will keep ears and eyes open when prospects share information about these endeavors.
In fact, IT innovators targeting this class of prospect will do well to study a related comment made by Ms. Carole J. Haney, Process Owner – Process Management and Process Performance, The Boeing Company, Integrated Defense Systems, Rotorcraft Division, Mesa, Arizona, that is included in the MIT Sloan Review Article on Dr. Hammer’s research on this topic. Ms. Haney notes that her group “took an evolutionary step toward a process point of view by implementing ‘shared metrics’ across [their] value stream. Customers are now involved as part of the process team when creating process definition; a process team that comprises cross functions, including the customer, is more readily postured for success.” As we have written elsewhere in this blog, the slow pace of complex sales may be attributable to a dysfunctional decision-making process that is, nevertheless, a real factor for customers. By participating alongside customers within a process of determining needs and solutions (to cure this dysfunction) IT innovators, who can afford the time the process may take, will substantially differentiated their value for the market from their competitors. In fact, and as noted by Jeff Thull in his book “Mastering the Complex Sale,” the final product may be entirely unique and solely available from the IT innovator who spent this time with the prospect.
Analyzing KPIs, balanced scorecards, etc is equally valuable for the indicators that will, in all likelihood, be forthcoming on operations afflicted by “pain points,” as well as business operations that are “bleeding” cash. Of course, these indicators promise very rich returns for relevant products and/or services.
IMB Enterprises, Inc. is interested in opportunities to work with IT innovators who wish to approach market opportunities to collect the type of high level/very high value information characteristic of KPIs, etc. Please contact Ira Michael Blonder at +1 631-673-2929 to further a discussion. You may also email Mike at firstname.lastname@example.org.
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