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Key Performance Indicator To begin with any good management team will quickly realize that there are a few variables in their business equation that seem to drive the business over the top or off the cliff. This type of variable is often thought of as a key performance indicator in the business arena. When management is able to correctly identify these key performance indicators their ability to increase employee performance is strengthened. For example, an executive of a company whose core business revolves around producing dairy products needs to know which variables have the greatest effect on the bottom line. One key performance indicator might be the run time of a batch of cheese. The quicker that batch can be processed the lower the associated labor costs will be, ultimately resulting in a lower per unit cost. By identifying key performance indicators within the business, management can then take measures to ensure the business is run efficiently by minimizing costs wherever possible. Executive Information System While identifying the key performance indicators that drive your businesses bottom line and can affect improvements in employee performance sounds simple enough, if you dont have the right tools it can prove quite frustrating. Enter the executive information system. An executive information system grants you the ability to process and analyze tons of information in a timely matter. The system serves as a front end for the scores of information management stores safely on their database servers. The executive information system then has the ability to break down the information according to any variables you select. According to the information chosen to be displayed, management can then analyze the data by observing graphical representations of the information. In this manner identifying any key performance indicators that have either positive or negative trends is simplified, allowing management the ability to quickly interpret the information and act on it as quickly as possible. In a world where time is money, the ability to act on real time information proves extremely valuable. Bringing knowledge and technology together often can improve ones bottom line if it is done in a careful and calculated manner. Utilizing the executive information system to fully understand the key performance indicator that drives your business is a great example of meshing knowledge with technology. The benefits are clearly manifested as management is able to understand the core business better and ensure that employee performance is always at the optimal level.
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