An enterprise is successful in becoming a digital business when it achieves a combination of digitalizing its current business models and pursuing new ones.
Digital business key performance indicators (KPIs) are designed to assess the degree of progress in becoming a digital business — which in turn leads to a change in performance that is reflected in the KPIs of the enterprise.
How would you describe the progress achieved in becoming a digital business?
This requires a set of KPIs that are specific to the digital business transformation effort.
With most enterprises already using a robust set of enterprise KPIs to measure the performance of their business, it may seem superfluous to create yet another set of KPIs. However, as with any large transformation or project, it is helpful to temporarily create transitional KPIs for the duration of the digital business effort. In Digital Business KPIs: Defining and Measuring Success, research firm Gartner sets out to look at how enterprise CEOs, chief digital officers and CIOs must move beyond the transformation stage and set metrics and goals that lay out a true digital business journey. In fact, according to Gartner, CEOs, chief digital officers and CIOs must:
- Move beyond the transformation stage and set metrics and goals that lay out the digital business journey.
- Work with each senior executive to quantify the extent to which their areas would benefit from digitalization.
- Use startup-style metrics for new ventures, acquisitions and business models.
Gartner is a leading global information technology research and advisory company. Through the resources of Gartner Research, Gartner Executive Programs, Gartner Consulting and Gartner Events, Gartner works with every client to research, analyze and interpret the business of IT. For more information, visit Gartner.com.