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Is there one ultimate measure of performance? The lifetime value of a customer trumps all other measures. For almost every business, using almost any business model, Customer Lifetime Value (clv) provides more insight than any other single measure.
Big data now allows you to go beyond traditional key performance indicators (kpi) that focus only on financial performance. While financial measures will always be the ultimate measures of success, using them to manage on a daily basis focuses an organization on the past. This creates a lagging mindset. How do you focus on now to create financial success in the future?
What are the key performance indicators (kpi) you miss using only traditional metrics? While you probably have massive amounts of traditional enterprise data, you won’t get the complete picture without looking at new customer metrics. Social media and mobile technology create massive amounts of new and valuable “big” data. The challenge for leaders: mining this data to get the most meaningful information.