Business metrics in the age of digitalization: new challenges and opportunities

Introduction. In the context of digital transformation, driven by rapid changes in business practices worldwide, company management systems based on business metrics are gaining widespread adoption.

Goal. The study sets the goal to analyze current problems and prospects of business development on a global scale and identify the need to use business metrics to ensure the effectiveness and competitiveness of organizations in the digital economy; to conduct a study demonstrating the practical importance of using business metrics to optimize business processes and make informed management decisions.

Materials and Methods. The article examines the concept and origin of the term “business metrics” and analyzes the need to implement a monitoring, analysis, and control system for changes in modern business processes. A business management system based on calculated business metrics is proposed, allowing for monitoring, analysis, and control of the entire business. The system helps in promptly identifying bottlenecks and optimizing business processes. The article proposes a grouping of business metrics according to various indicators, parameters, and goals.

Results and Discussion. The research analyzed key metric groups, thoroughly explaining their economic meaning in the business context. Principles for effective management based on the practical application of business metrics were developed and suggested.

Conclusion. The concept of business metrics has undergone significant changes, evolving into a comprehensive system for measuring and analyzing the activities of the entire organization. Properly selected metrics enable not only identifying errors, weaknesses, problem areas, and promptly correcting them but also calculating economic feasibility, considering multiple options and vectors for future development.

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