Beware of Vanity Metrics, Which Feel Good But Deliver Little | Tinder on Customers

<p>The Big Themes:</p><ul><li>The trap of vanity metrics: certain statistics you hear all the time, like "we have 96% customer satisfaction," are not telling the full story. These metrics are easy to come by and make us feel good, but in the end they do not really help us.</li><li>Metrics that actually matter: in a digital transformation, the stats that you need are those that tie back to business objectives. This means revenue improvements, cost reductions, and working capital improvements.</li><li>Trust but verify: Raven Intelligence can help with choosing a vendor or partner by helping you verify the metrics you're hearing from salespeople. It's important to confirm the source of the stat, and its relevance to your business and goals.</li></ul><p>The Big Quote: "You hear a statistic like 'on-time delivery.' But how is that defined? Because if on-time delivery is 96%, and it's based on a date that's moved eight times... Well, it's easy to have an on-time delivery for a moving target. And so in those types of cases, when you hear numbers like that, you always want to sort of peel back the onion."<br /><br /> </p><p>This episode is sponsored by BMC Software.</p>