Using a Composite Index

Any given objective may have one or more associated metrics to determine its success or failure. When an objective can be measured through a 1:1 relationship, that is one objective has one metric, then the measurement process is usually quite simple. Monitor the...

Take Control of Your KPIs

We like to measure things. In business we are very familiar with the phrase “You can’t manage what you can’t measure”. Interestingly this phase is often wrongly attributed to W. E. Demming, ironically, what he actually said was “It is wrong to suppose that if you...

5 Reasons to Automate KPI Management

Businesses usually review progress through monthly reporting. Within a typical monthly report will be a set of slides and/or spreadsheets that purport to contain all of the information required to make decisions for the following month(s). These reports will almost...

Should I use a Metric or KPI?

“What’s in a name? That which we call a rose by any name would smell as sweet”. The central quote from Shakespeare’s Romeo and Juliet that encapsulates the entire story. Juliet Capulet meets and falls in love with Romeo Montague. Their romance is doomed from the start...

What is an XmR Chart?

XmR Charts fall under the category of control charts used to monitor industrial or business processes. The X stands for ‘Individual’. In an industrial process this may be a quality of an item produced (or a batch of items). For example the quality of a ball bearing....