The benefits of digital KPIs
There are no silver bullets or magical formulas for digital business success, but KPIs can help. “The digital KPI is all about understanding where you’re making money or improving an existing business model, how to measure that and work with your non-IT execs to achieve new business outcomes that you've set based on the fact that you're going digital,” Proctor says. "Outside of that all that you have is a collection of new projects that are using technology to do new stuff and unfortunately that's where most businesses are today."
The stakes are high for CIOs and their C-suite peers to cement a digital strategy — and even higher to establish KPIs to measure its effectiveness. Disruption, the kind that Amazon.com has unleashed across the retail landscape, occurs in a market once digital revenue hits 20 percent of the total. “If you’re not [reasonably] digital at that point, you’re toast,” Proctor says.
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