What are KPIs?
In order to stand out from the competition in these competitive times, business processes must be constantly logged, tested and improved.
To ensure that we are moving in the right direction, we need to measure our progress through data-driven analysis. To do this, we define KPIs. Before we can define KPIs, we need to introduce metrics. Simply put, a metric is a unit of measure that can be used for evaluation or description. For example, a meter is a metric that describes a length. These metrics are indispensable for growth, because without them growth cannot even be determined, but even existing measured values cannot be evaluated to improve them. Now we come to KPIs which record and log certain metrics.
KPI is the abbreviation for Key Performance Indicator. KPIs are key figures that determine the performance of a company’s activities. Which KPIs should be considered in order to measure success or failure depends on the company, the respective measure and its goals. Without measuring and monitoring their key metrics, they don’t know how well their organization is doing and which processes they should focus more on. It is like a blind flight in an unknown direction. However, it is not a question of tracking all metrics and key figures, which would lead to an information overflow, but of tracking the right key figures and thinking about optimizing the processes behind them.
Evaluation with Synergy Vision, OSIsoft PI System and Seeq Data Analytics
In industry, for example, production volume, electricity consumption and working hours are of great relevance. These key figures include many
subordinate key figures and it is difficult to recognize correlations at first glance. In order to keep track of its data or its so-called data lake/datalake, it needs the support of a system that is as intelligent as possible. This is where we come in. With our in-house MES Synergy Vision you can easily define your KPIs, set your goals and try to implement them. For data storage, the powerful OSIsoft PI system is ideal. As a long-standing (20 years+) company, we also help you here. We set up the PI system for you and support you with the data analysis.
In addition, through Seeq we offer you the possibility to recognize further correlations through Advanced Data Analytics and to profit from them.