Source | www.cio.com | Clint Boulton
Ask a CIO how he or she quantifies the impact of their digital transformations and you may get a quizzical look. Most CIOs don’t have metrics for gauging the success of digital projects, such as new mobile apps or chatbots.
But CIOs who fail to quantify these initiatives may find themselves outflanked by nimbler rivals, analysts say. Digital key performance indicators (KPIs) are one way to track transformation progress. But to avoid wasting time and resources, CIOs need to make sure they know what they’re tracking and what they aim to accomplish.
“The biggest limitation [of digital KPIs] is the lack of a clearly defined digital ambition,” or strategy, Gartner analyst Paul Proctor tells CIO.com. “Having a clear idea of your digital ambition will give you some ideas of what you should be measuring to measure your progress. You can’t measure something you don’t have a measuring stick for.”