Unit 2 - Discussion Board

Unit 2- Discussion Board

Author Name(s), First M. Last, Omit Titles and Degrees

Unit-2 Discussion Board

Every organization has specific aims and objectives that should be fulfilled to expand the business and achieve success in business. Key performance indicators can be defined as a measurable value that determines how effectively an organization is attaining key business objectives (Velimirović & Stanković, 2011). In short, KPI facilitates an organization to measure the success rate based on goals and defined targets. Several software tools are available for every organization that aids an organization in tracking success. However, some of the software tools are very effective in measuring success in a business such as HubSpot, Tableau, and Geckoboard, etc.

The main reason for recommending HubSpot which is marketing, sales, and service software is that this software facilitated in a growing business. It also offers dashboard templates that can be integrated with excel and google drive so that an organization can track all the performance metrics. Evaluating the performance metrics will help a lot in developing new strategies that would guarantee an organization's success. Another software tool is Tableau that facilitates an organization in analyzing its data and customer/retailer engagement KPIs. The most important feature of this tool is that it provides real-time reporting and data blending. The real-time data will help an organization to modify current strategies to achieve targets. Another software that is highly recommended is Geckboard which provides a platform for live KPI tracking platforms for an organization. It allows an organization to display results onscreen so that every team member of the company can focus on the results and try to further improve results.

Specifically discussing e-commerce, the tool that suits best is Tableau because of its real-time data blending feature. However, for manufacturing business, Hubstaff is a software that is best suited to determine business success and planning future strategies.

The reason for recommending Tableau for an e-commerce business is that this tool can easily connect to the database of an organization. After connecting to the database it analyzes the data and then helps in developing insights in real-time. Thus, providing information regarding actionable insights that may facilitate an organization in attaining success. In contrast, the manufacturing business is a bit different from e-commerce so to measure the success of the manufacturing business Hubstaff software is utilized. The reason for recommending Hubstaff software tool is because it facilitates in boosting the performance of the assembly line. It also provides in-obstructive employee monitoring as well (Setijono & Dahlgaard, 2007). Furthermore, it aids in providing payroll functionalities that facilitate manufacturing businesses.

References

Setijono, D., & Dahlgaard, J. J. (2007). Customer value as a key performance indicator (KPI) and a key improvement indicator (KII). Measuring Business Excellence, 11(2), 44-61.

Velimirović, D., Velimirović, M., & Stanković, R. (2011). Role and importance of key performance indicators measurement. Serbian Journal of Management, 6(1), 63-72.