E-commerce fundamentals and contemporary business applications

Ecommerce

E Commerce

What are metrics (financial, customer, internal business process metrics & learning and growth metrics)?

Metrics are various benchmarks that have been established for the implementation of the business. In the case of an e-commerce website, they are serving as a way to determine how successful the organization is in relation to the business plan. This is because various objectives will be established from the very beginning, to determine how successful a business will be in future. As a number of different elements will be examined including: the possible returns on investment, how the organization will be able to make a profit, the target audience that is going to be selected, how the business will be able to stream line costs (in an effort to maximize profits) and what managers / executives could learn about possible changes that are taking place in the market. This is important, because these factors will determine how successful the business venture will be in the future (based upon proven economic principals). (Holden, 2010)

Why are they important to e-commerce managers?

They are important to e-commerce managers because they will tell them if the business model is economically viable (in both the short- and long-term time horizons). At the same time, it will tell executives how the company is performing, in relation to these different benchmarks. Once this takes place, it will point out to managers, how quickly they need to be adjusting for the changing market conditions. When you put these different elements together, this showing how they can help executives to understand the way the company is: performing and that some kind of action may required (if it is falling short). Once this takes place, it will help to increase the odds that the company will be successful in the future.

What is the Performance Dashboard (strategic analysis. business model, marketing, implementation, and customer)?

A Performance Dashboard is designed to observe and tackle any kind of problems that maybe emerging on the SQL server. This is important, because it can help to improve the strategic analysis, by serving as an early warning sign (when some kind of issue could be emerging). Where, it can address: possible challenges that may be affecting the business model, marketing strategies or customer service issues. When you have an effective Performance Dashboard in place, it helps to prevent any kind of sudden surprises. These different elements are important, due to the fact that they are highlighting how, an e-commerce website can have effective security procedures in place.

How can it be implemented?