What are the top digital transformation metrics? How do these measure your success in digital transformation?
Let’s find out!
Digital Transformation Metrics
More and more companies apply digital transformation. They also realize how it improves a business.
Moreover, as they apply and develop transformations. They should have metrics that show results. So, IT leaders can present the benefits of DX in a company.
Then, what are the most important digital transformation metrics?
So, here are the top twelve digital transformation metrics.
Internal and External Success
Your internal success comes from your company. You can measure based on:
- your employee’s productivity
- workflow
- efficiency
- maintenance time
On the other hand, external success comes from your consumers. You can measure them based on:
- feedback
- insights
- Net Promoter score
User Lifetime Value
This metric is in connection with your external success. It is also one of the best indicators that you successfully applied DX. Why?
If you keep your customers after applying the transformation, you can get more sales.
Efficiency of work
Digital transformation helps you automate tasks. By the use of robots, AIs, and other technologies.
If you saved hours of work, then you became efficient. Moreover, it is a critical metric that measures your progress and innovation.
Workforce
DX creates valuable productivity. So, you can generate higher sales per employee.
Also, you can track this metric. Automation can then enhance your performance.
Sales
The number one metric is sales. With more customers and a more efficient workflow, you can get more sales. How?
Well, DX can modernize your services and products. So, it must generate more sales.
Better marketing
Digital transformation also involves marketing. It enhances how a business markets its services and products.
Moreover, companies that apply DX will also invest in ads and promotions. So, check if there is a return on this investment.
Insights and analytics from DX will and should result in better marketing performance.
Operations
As mentioned, digital transformation improves productivity. It can also help you simplify operations.
A good DX is when you can provide more training. While applying new innovations.
Customer Experience
Another critical metric is customer experience. If your customers can:
- navigate easily
- understand the process
- perform necessary actions
then you applied DX successfully.
Innovation rate
Digital transformation is not just innovating. It also involves good results, like:
- improved business models
- better offerings
- enhance value
- reduce costs
- secure business growth
So, your innovation rate depends on your business’ ROI.
Teamwork
DX also brings a people-focused culture. It transforms, not just digital, but also cultural.
You can say you are successful in your DX application if:
- your employees are motivated to do their job
- your executives believe in your goals
- it improves teamwork
Cloud application
Digital transformation allows you to use the cloud. Also, being cloud-native measures your success.
If you see your organization uses this frequently, you are doing a great job.
Expenses
Applying DX is not cheap. It will actually cost you money.
But, it can help you save expenses in the long run. Your tasks will be automated. The time you save can be used for other tasks.
So, you should notice your operating expenses.
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