Share knowledge about product with customers
KPI Name: Product Knowledge Management Balanced Scorecard Metrics
Related KPIs: Project Management, Product Launch, Operations, Risk Metrics, Change Management, Resource Management, Communication Measurements, Time Management, Cost Management, Knowledge management, Intellectual Capital, Natural Disaster Management, Data Records Management, Resaturant, Cafe, Hypermarket
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Customers also viewed: Customer Relationship Scorecards | Change Management Scorecard
Sample reports:
Some reports were generated with Balanced Scorecard Designer for the Product Knowledge Management Balanced Scorecard Metrics KPI to show both – Balanced Scorecard Designer functionality and a part of KPI content:
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Balanced Scorecard Designer Screenshot:
The Balanced Scorecard Designer software was used to create this KPI.
Description by authors:
Every day a new product is launched in the market but the successful ones are those that perfectly suit the requirements of customers. A product matching the requirements of customers can be designed only when sufficient knowledge is available about the product and that knowledge is managed efficiently. KPIs are the financial and non-financial metrics arranged in a balanced scorecard that measures the performance of an organization.
KPIs for product knowledge management are grouped into four perspectives: financial, customer, internal process and innovation perspective.
Financial perspective specifies the financial savings and expenditure due to proper management of product knowledge and contains KPIs like percentage increase in product training cost, percentage increase in R & D expenditure, average cost of product KM initiatives and percentage savings in operational cost.
Customer perspective judges the customer perception and comprises of KPIs like percentage reduction in number of customer complaints, percentage increase in number of repeat customers, average customer satisfaction scores and percentage decrease in repairs and replacement cases.
Internal process perspective includes KPIs such as success rate of new products, number of product knowledge management systems installed, number of new models introduced and percentage reduction in defective products. This perspective judges the performance of internal processes of the company.
The innovation perspective gives details of the innovations and inventions done to improve quality and enhance efficiency. The KPIs for this perspective are number of external knowledge links, number of new projects undertaken, technical training sessions and number of product design sessions.
KPI in Excel – Screenshot:
