Within the Discussion Board area, write 400–600 words that respond to the follow

Question

Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas: Key performance indicators (KPIs) are used by organizations to evaluate the extent to which tactical goals for specified business activities have been met. Research and discuss the various software tools that are used to measure KPIs. Using your research, answer the following questions: •What are some recommended specific software tools that are used to measure KPIs? •What is your rationale behind those recommendations? •Are there specific software tools that you would recommend based on the type of business? •In what way would your case study business specifically use KPIs to evaluate the extent to which tactical goals have been met?

Explanation / Answer

Recommended software tools that can help to measure effective KPI’s are as follows:

Reason behind these recommendations:

These mentioned softwares have various common features as well as distinctive features that sets them apart. But overall these software are quite advanced and have huge analytics engines running behind these to segregate, analyze and collate data so that it gives a full and user friendly overview to the data’s and measure and calibrate according to business KPI’s.

Recommendations based on business:

To recommend any software to a business first we need to identify their data model, their KPI’s, what they are looking for with respect to those KPI, organizational size, organizational goals etc.

Based on these criteria we can recommend the organization the best KPI’s analysis software.

For example,

Cases where business specifically use KPI’s to evaluate the extent to which goals have been met:

KPI is a measurable value that demonstrates how efficiently business is achieving its objectives.

Selecting the correct KPi depends on what the organization business is, which part of business you want to track.

Each department of the same organization may use different KPI’s to track their rate of success. Once the KPI’s are set the body which will use those KPI would require a software which would track their KPI’s and give real time output f the current performance with respect to the KPI. Without a software KPI tracking would be very difficult especially if the functioning body is very larger and dispersed. We need to select the correct software which would meet the requirements as per the KPI.

Hope your question has been resloved. Please do not forget to give a positive like to the answer. Thank you.

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