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Re-structuring KPIs for data-driven insights – The power behind Industry 4.0
Digital transformation in the CPE industry is not new. High tech companies have found themselves at the forefront of the DX game in many scenarios. In the Business 4.0TM era, CPE enterprises are using data-driven insights to restructure KPIs in the new digital era. Industry 4.0 data-driven insights are fueled by deploying the renewed KPIs across business functions, but primarily in the areas of customer experience (CX), supply chain (SC), finance, and human resources (HR). The success of digital transformation in the CPE industry will be highly influenced by the following:
- Leveraging KPIs as tools of transformation to align people and processes
- Using KPIs as data sets to teach ML algorithms and optimize business performance
- Segmenting KPIs by customers, channels, or products to uncover new insights
- Fostering cross-functional collaboration through shared KPIs that can create new opportunities
- Tracking the key digital KPIs and not a medley of irrelevant KPIs
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