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 g...
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| Format: | Article |
| Language: | Russian |
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North Caucasus Federal University
2025-01-01
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| Series: | Вестник Северо-Кавказского федерального университета |
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| Online Access: | https://vestnikskfu.elpub.ru/jour/article/view/2822 |
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| _version_ | 1849244185763250176 |
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| author | I. N Belousov U. A. Borovy K. G. Gladkov |
| author_facet | I. N Belousov U. A. Borovy K. G. Gladkov |
| author_sort | I. N Belousov |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-e80dd2506be34f8696e982f16038e017 |
| institution | Kabale University |
| issn | 2307-907X |
| language | Russian |
| publishDate | 2025-01-01 |
| publisher | North Caucasus Federal University |
| record_format | Article |
| series | Вестник Северо-Кавказского федерального университета |
| spelling | doaj-art-e80dd2506be34f8696e982f16038e0172025-08-20T03:59:13ZrusNorth Caucasus Federal UniversityВестник Северо-Кавказского федерального университета2307-907X2025-01-010610010610.37493/2307-907X.2024.6.102701Business metrics in the age of digitalization: new challenges and opportunitiesI. N Belousov0U. A. Borovy1K. G. Gladkov2North-Caucasus Federal UniversityNorth-Caucasus Federal UniversityNorth-Caucasus Federal UniversityIntroduction. 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.https://vestnikskfu.elpub.ru/jour/article/view/2822business metricsbusinessperformance managementinformation technologybusiness profitabilityperformance indicatorsclassificationbig data |
| spellingShingle | I. N Belousov U. A. Borovy K. G. Gladkov Business metrics in the age of digitalization: new challenges and opportunities Вестник Северо-Кавказского федерального университета business metrics business performance management information technology business profitability performance indicators classification big data |
| title | Business metrics in the age of digitalization: new challenges and opportunities |
| title_full | Business metrics in the age of digitalization: new challenges and opportunities |
| title_fullStr | Business metrics in the age of digitalization: new challenges and opportunities |
| title_full_unstemmed | Business metrics in the age of digitalization: new challenges and opportunities |
| title_short | Business metrics in the age of digitalization: new challenges and opportunities |
| title_sort | business metrics in the age of digitalization new challenges and opportunities |
| topic | business metrics business performance management information technology business profitability performance indicators classification big data |
| url | https://vestnikskfu.elpub.ru/jour/article/view/2822 |
| work_keys_str_mv | AT inbelousov businessmetricsintheageofdigitalizationnewchallengesandopportunities AT uaborovy businessmetricsintheageofdigitalizationnewchallengesandopportunities AT kggladkov businessmetricsintheageofdigitalizationnewchallengesandopportunities |