Alt: KPIs you should track for the success of your business
Description: A person studying a bar graph on paper
The founding father of modern business corporation Peter Drucker once said,
“If you can’t measure it, you can’t improve it.”
In this technological era, every business is integrating smart digital solutions. This digitalized approach calls for hefty investment in IT infrastructure that requires constant tracking and maintenance to drive the intended results. This is where IT KPIs (Key Performance Indicators) comes into play! There are some KPIs you should track for the success of your data driven business.
Measuring IT KPIs helps you stay up to date with your business performance; hence, you can make informed decisions. It reassures you that you have adopted the right strategies to achieve your key business objectives.
But which KPIs should you focus on? Well, it all comes down to the nature of your business and, on a secondary level, aligns with your business objectives. To make it easier, this article enlists the top 5 IT KPIs you should track for your data-driven enterprise.
Total tickets Vs. Open tickets regard all the tickets or engagements in your support queue in a given period. It is the most influential metric that helps you analyze the results brought in by the interactions of your IT staff with your customers. This KPI gives you insight into your customer support team’s overall performance and productivity.
It is advisable to monitor the ratio of open vs. completed tickets at regular intervals for your ongoing projects, team, or employees. This way, you can pinpoint the areas to focus on in your ticketing system and optimize accordingly.
Return on investment is a common KPI used by all businesses to gauge the results of the company’s investments in the IT infrastructure. The formula for calculating ROI is quite simple: Divide the total profit by the total investment and multiply by 100.
When computing returns on your IT spending, go beyond metrics like cost savings or revenue increases. Consider all levels of performance metrics relevant to the business or your project’s goals. By doing so, you will yield more precise financial information.
MTBF is a maintenance KPI that tracks the average time between a technical breakdown and its troubleshooting. It is one of the critical indicators for gauging the effectiveness of an IT infrastructure.
This IT KPI helps you monitor the availability and reliability of a product. A higher MTBF means that your system will take longer to start working again after a downtime, system crash, and other failures.
The ratio “Mean Time to Repair” is interlinked with MTBF. It is a KPI that considers the total time it takes to repair and restore an IT system. MTTR is measured in minutes, hours, or days depending on the complexity a system failure causes.
This KPI is a powerful predictor of the effect of an IT incident on the organization. A higher MTTR indicates a more significant risk associated with downtime. On the other hand, a lower MTTR indicates a favorable and healthy computing environment with strong backups.
RPO is a time-based measurement that helps evaluate whether the business backup program can recover after an unplanned disaster. This IT metric tells you the highest acceptable amount of data your business can lose after an unforeseen data loss incident.
Some high-priority applications in the IT business require a tighter RPO for higher efficiency. Thus, they run on frequently scheduled back-ups and more investment in data recovery solutions.
Monitoring the IT KPIs for your business needs a solid data management infrastructure. It involves accessing a data center with complete facilities for better reliability and performance. However, all this comes with a high price tag and requires continuous maintenance.
This is where Coloco comes into the play. As an experienced data center facility management with professional data center security, Coloco offers complete surveillance to solve your problem in affordable packages.