Data-driven decision making improves
productivity and profitability
We all think that we are completely rational in our decision-making. However, the reality is that we are always influenced by our experiences, peers and environment. How can software companies make the shift away from making decisions based on gut instinct or HIPPOs (Highest Paid Person’s Opinion)?
Professor Erik Brynjolfsson at MIT’s Sloan School of Management has worked with very large firms and demonstrated that a one standard-deviation increase toward data and analytics correlates with a 5 – 6 percent improvement in productivity and a measurable increase in profitability.
Software benchmarking puts a stake in the ground
Research shows that the most successful companies use benchmarking as a key management process and information tool. As your company develops its annual strategic plans and budget, it helps to understand where you stand relative to your peers and competitors. Deviating from benchmarks isn’t good or bad: But it is important to know why and by how much you deviate in order to test and justify your decisions.
Download this free white paper
OPEXEngine Founder and CEO Lauren Kelley delivered this “Data-Driven Decision Making” presentation to an audience of over 100 CFOs at an invitation-only event hosted by General Catalyst Partners, a Boston-based venture firm on 19-Oct-2011. In this white paper, you will learn:
- Why is benchmarking important?
- What is the most frequently underestimated metric that will hurt your scalability?
- What financial metrics matter most for Saas?
- What customer benchmarks matter most for SaaS?
We saved 12% of marketing expense… by tying them to OPEXEngine’s peer benchmarks, while out-performing on customer growth.
- participating CFO in Software Benchmarking