Top Metrics Product Companies
Should Be Monitoring
What do Coke, Ford and Google have in common?
For one, they’ve each had epic product failures that
likely could have been avoided. Google had Google
Glass (and dozens of other false starts), Coke had
New Coke and Ford had the Edsel. Each had the
marketing know-how, the customer relationships
and the money and each failed to get the data they
needed about the market for their product. The
bigger and more egregious the failure, the more
likely it could have been prevented by disciplined
use of data.
Conversely, when manufacturers, distributors and
retailers consistently make profitable decisions,
you can bet there are teams constantly pouring
over data to understand supply chains, sales
forecasts, process efficiencies and customer trends.
Collecting good, timely data with careful analysis
to guide proper business decisions is critical to
thriving in business today. And we’re not just
talking about how enterprise-scale companies
succeed. Every company can and should collect
data to inform business decisions.