How business Intelligence software can help you to improve KPI

Business Apps which are also known as business software plays a huge role in KPI tracking. In any organization, key performance indicators are the most essential element in understanding any problem and growth. A proper KPI business intelligence software can help your organization to properly define, design, monitor necessary workflows and identify problems way before.

Why is KPI tracking important for your business?

A Key Performance Indicator (KPI) is a measurable value indicative of how successful a business is or how successful it is in achieving its business objectives through the various activities (projects, events, products etc.) it engages in.

Devising an effective and balanced KPI scorecard for your business

A KPI should describe the process of strategy execution. Effective KPI metrics are based on a model of workforce success that is comprehensive mutually exclusive, and only minimally redundant.

Businesses have the incorrect tendency to measure the easy things many times and the most difficult things rarely. Many firms measure financial metrics like the return on sales (ROS), return on assets (ROA), return on net assets (RONA), and return on invested capital. While these are important, it addresses the outcomes for only one set of stakeholder, the investor. However, an organization impacts multiple stakeholders like customers, employees, regulators. In the long-term, a profitable and sustainable growth of businesses rests on excelling in all these areas.

How can a business software help you?

An organization needs to keep track of many activities in parallel with various departments. In business, KPI activity tracking comes in many ways, such as-

  • Are the people aware of all the responsibilities in terms of paper filings?
  • Are the administrative works are happening as per schedule?
  • If there is a backlog from where it is started?
  • Which department is lagging behind?
  • Can we achieve the target this year in terms of quality?

Having a custom KPI business software helps you to always remain in a commanding and knowledgeable position to sort things out quickly.

Benefits of a KPI Business analytics application

  1. Reduces communication gap.
  2. Reduces unnecessary meetings.
  3. Monitoring departments or a project becomes easier.
  4. Quality control becomes easy.
  5. Reduces the chance of failure.
  6. Problem identification becomes easy.
  7. Most importantly, it helps you to identify a disaster way before it is gonna happen.
  8. All associated persons automatically remain in a loop.
  9. Increases consistency in co-workers.
  10. Helps to create a benchmarking.

How RedElegant is helping in developing KPI BI software?

With our vast experience in encountering several businesses founders and key persons, we understand the different aspects of each business and we quickly identify the requirement. Based on the requirement we help them with UX focused design of the KPI system and development. We also discuss the balanced KPI scorecard design and implementation in a secure environment.

Platform support

  1. Web application:
    In a business application development, web app works best as it gives you a larger visibility of the organization.
  2. Mobile Application:
    RedElegant has developed business mobile app solutions that work exclusively for KPI understanding. A mobile application is best for the Managers who travel frequently and need to keep an eye on the metrics.

The process of KPI business app development

Like any other software development, business analysis application development also takes place in a certain process. We at RedElegant work on agile methodology keeping in mind where segmented waterfall is necessary else mostly scrum. Our Typical process is as follows –

  • Sign NDA
  • Requirement gathering and analysis
  • Discussing with the client, providing suggestions
  • Make roadmap and project plan
  • UX analysis
  • UX/UI design
  • User testing
  • Feedback gathering
  • Technical architecture design
  • Development as per the roadmap
  • Quality analysis
  • Security testing
  • Release and iterate

Read here our full business app design and development process

The available data from KPI is vital for providing direction. Running a business without monitoring key metrics is akin to sailing a ship without a rudder. We help you to employ them and make sure your ship, or fleet, knows where it is and where it is going.

 

Want to discuss your business application development with us? Let’s schedule a 15 minute call by clicking this Tech consultation link


Also published on Medium.