Key figures

Recipe for success: data-driven company

In volatile times, companies face the challenge of adapting quickly to constantly changing market conditions and remaining competitive. The recipe for success is to drive the change to a data-driven company. But what does that mean exactly and how can SMEs benefit from it?

The change from "gut feeling" to data orientation

Gone are the days when decisions were made based on intuition or "gut feeling". Today, data-driven companies use the power of data to make objective, informed decisions, optimise business processes and thus secure decisive competitive advantages.

The Power of Key Performance Indicators (KPIs)

Business key performance indicators, also known as KPIs, are the foundation and backbone of data-driven decisions. They measure entrepreneurial performance, provide meaningful information on processes and interrelationships and give you a perfect overview of your company, your customers and your industry. Based on facts and figures, you can make well-founded decisions with reliable KPIs and align your strategy in a targeted and success-oriented way. Key figures are by no means reserved for large corporations, but also ensure successful corporate management for medium-sized companies and start-ups.

Anticipating the future through key figures

KPIs also act as an early warning system for your company. They can identify and react to changes in demand, competition and customer preferences at an early stage. In this way, KPIs not only create transparency, but also a framework for identifying and minimising potential risks.

Make data-driven decisions (Data-driven Decision Making)

Has the 10% productivity improvement target already been reached? Is customer satisfaction at the targeted 90% or do measures need to be taken here? With the right KPIs in mind and a reliable data base as a foundation, your business metrics provide you with a clear view of your company, your processes and your industry. At this point, you can start making informed, data-driven decisions and truly act as a data-driven company.

Practical insights and strategies for implementation in our whitepaper.

Our latest free whitepaper (see download tip below) offers practical insights and concrete recommended actions to transform your company into a data-driven organisation. It's worth reading!

By Markus Schäfer (Managing Director)