Metrics Matter - Modern Distribution Management

Metrics Matter

Having the right metrics in place can prevent time wasted on meaningless analysis.
Kristen-Gawalis-MDMBlog

Big data has reached a whole new level of complication now that the Internet of Things has started to amass more information than ever before. To save weeks or even months on meaningless analysis, significant metrics should be set before collecting data.

According to Harvard Business Review, there are a few tips that all organizations can use to ensure the metrics they are analyzing are the right ones:

1.              Metrics should be easy to understand and use. The simpler, the better.

2.              Metrics should be easily replicated. This allows it to be compared to future metrics.

3.              Metrics should provide useful, actionable information that impacts the business. See how these changes are connected to specific actions and behaviors among employees and customers.

These hints may seem obvious, but decisions about analytics tend to be rushed, leaving a mess of extra work on the back end. Use simple indicators to better understand your business but, more importantly, understand why the metrics you’re using are important. 

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!