As organizations launch more and more digital initiatives, CEOs must monitor whether they are delivering business results. These metrics are ones to watch.
While business and technology leaders might report good progress on those initiatives to the CEO, simply getting projects off the drawing board doesn’t guarantee that the organization is increasing revenue, profitability, market share, efficiency, or competitive moats as a result. Organizations pursuing digitization need a fully engaged CEO to take charge and drive actual performance gains from digital investment. That means prioritizing scalable initiatives capable of substantially improving the organization’s performance; insisting on fast, minimally viable outcomes that can be improved over time; and, importantly, measuring and tracking the impact and value creation of all digital initiatives.
It’s this last activity that this article will detail, along with ways CEOs can ensure that metrics are moving in the right direction.
Table of Content
Map before you measure
Five metrics for the digital CEO
1. Return on digital investments
2. Percentage of annual technology budget spent on bold digital initiatives
3. Time required to build a digital application
4. Percentage of business leaders’ incentives linked to value-creating digital builds
5. Top technical talent attracted, promoted, and retained
