Business Scorecard Metrics

In business, a scorecard is a means of assessing the performance of an individual or a company. Scorecard metrics are the measurements used to track and control the progress of this performance.

The intent of these measurements is to ensure that progress remains steady towards a desired future goal.

Scorecard metrics should be specific, measurable, attainable, relevant, and time-constrained (S.M.A.R.T.). Scorecards can most easily be likened to school report cards.

Scorecard Metrics in Action

The foundation of a scorecard is that business does not happen in a vacuum. All aspects of a business are interconnected and all decisions permeate throughout an organization.

Common scorecard metrics are chosen based on different business perspectives such as financial, customer, process, and innovation. They can measure anything from monthly turnover to the installation date of new machinery.
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InetSoft's Approach

InetSoft's comprehensive real-time analytical reporting and dashboard software lets user build performance scorecards to monitor, measure, and manage performance by tracking metrics in real-time.

With InetSoft's Style Intelligence users build scorecards using a collection of objects known as 'Targets'. Each target helps monitor the performance of a metric. It specifies the metric, how and when the metric's performance is evaluated, what the end goal is, and what action to take if the goal is not reached.

The scorecard provides an easy way to monitor multiple targets on a single page. In addition to checking status, you can drill down on a metric to see more detail, and set up alert notification for a failing metric. View the example below to learn more about the Style Intelligence solution.

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