For a successful business, it is important to establish not only work processes, but also to set up analytics of all business indicators of the company. With their help, you can adjust the development strategy, draw up reports, analyze orders and sales of the company and assess the success of your team.To get this data and arrange them into graphs, you need to use a maintenance program. Owners of service centers, shops, workshops use one of the best software for this - Gincore. To understand the functionality, let's get acquainted with the basic questions.
What are business metrics?
Business metrics (BM) are data on a company's performance. They help to assess the success, profit, development of any enterprise. These criteria should be analyzed not only by large companies, but also by small firms. In Gincore you can analyze the main BM:
- average check of the company;
- work of workshops;
- work of masters;
- the company's revenue;
- enterprise rating;
- rating of each employee.
It is possible to obtain business metrics through integration with other program tools and third-party resources. For example, the call schedule can be seen thanks to the integration with IP telephony, and the site traffic is tracked using Google Analytics. All results can be viewed through percentages, graphs and numbers.
Why is it important to track BM?
CEOs spend a lot of time on analytics to understand performance and predict the roadmap for their firm. It is important to analyze BM for a number of reasons:
- using the conversion rate, you can determine the promotion of the site and how many orders were received with its help;
- analytics allows you to determine the cost of attracting each client and plan an advertising budget;
- studying BM helps to understand how to turn new customers into regular ones, keep them and stimulate new purchases/orders;
- sales and order charts show the activity of the company and the amount of work performed for a certain period;
- indicators are important for planning and reporting;
- it is important to study the effectiveness of the company for setting new tasks, projects, vectors of work;
- with the help of analytics, you can see the weak points of the enterprise;
- BMs help to understand the company's place in the market among competitors.
What business metrics are there?
There are a variety of performance indicators in business. Some of them are aimed at analyzing sales, advertising and promotion, others at analyzing profits and development strategies, and still others at evaluating the work of employees. In general, there are such types of BMs:
- business profitability indicators;
- profit estimation;
- payback period of the enterprise;
- capital stock of the firm;
- costs of development, advertising, equipment, materials, salaries of subordinates and other resources;
- average income rate;
- the coefficient of the usefulness of the employees;
- implementation of the company's business plan.
Specific metrics may differ depending on the software used to keep track of work and which metrics are important to the company's business.
What is in Gincore and what are BM functions used for?
Using the Gincore program, you can study the main business metrics:
- conversion reflects the usefulness of the site and how many orders are received from it, are there any user subscriptions/registrations that can turn into customers;
- the indicator of orders shows the number of sales, repairs, services provided, which allows you to analyze the work of the enterprise and its success;
- incoming and outgoing calls are pulled from the call center, displaying the history of calls and customer service;
- by the number of applications from clients, you can see the activity of the company and evaluate the quality of work of each manager;
- the average check of the company is determined by the amount of profit and orders;
- using one of the tools, you can analyze the work of the workshops, how many orders they have processed, how often requests are received;
- in the rating of the masters there are ratings from customers, which allows you to determine the best employees and see the quality of service in general;
- in the tool for calculating revenue, you can calculate the company's profit and determine the financial growth;
- the rating of the enterprise reflects the quality of the entire service.
Using Gincore, you can not only keep records, but also analyze the main business metrics of your company. You can see the weaknesses of the firm, and then focus on improving efficiency. The program will allow you to develop in the right direction and improve the quality of your service in any area.