Without a keen understanding of the ‘right’ metrics for your business and a plan to track them, it can be challenging or outright impossible to accurately diagnose performance and productivity bottlenecks that harm sales performance.
In a recession, stopping the leakage must become priority #1, because the bottom line must be protected at all costs as revenue growth stalls and other sources of financing dry up.
In this perfect storm, executives are challenged to follow a clear strategic path: should they continue to contain cost at the expense of new products? Should they pivot to address new demand, without knowing if it will evaporate when things return to normal? How can they move in-person customer service excellence online?
“In a crisis, metrics suddenly become a rare and precious commodity. Under pressure and faced with greater uncertainty, executives need data to manage risk; without the right metrics, they are forced to make decisions based on incomplete information.”
