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Business Metrics

Updated on October 21, 2014
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Business Intelligence Metrics

Volume 7, Issue 7, October 21, 2014

A business plan is a viable and evolving document that integrates all of the components of a business intelligence where each of the dynamic categories of the plan are brought together to form an analytic scheme of the business in metrics and measures. The plan itself can be from 30 to some 100 pages or more in its entirety once all of the components are brought together and written down in a business plan. Often-times a business starts its enterprise without the business plan and the business plan follows the opening and ongoing functioning of a business of some five years or more. However, it is recommended that a business plan be developed to acquire funding and set the operational scheme of the business in motion.

A good place to start in defining a business plan is looking at several templates and picking the one that fits best with your business enterprise. The Small Business Association or the Internet is a good starting place to find templates that may be like your own business (.http://articles.bplans.com/how-to-write-a-business-plan/). We have discussed primary components of the business plan and some of the detailed information that accompany the business plan is in the first eight to ten components of the business plan they are:

  1. Executive Summary
  2. Company Overview
  3. Products & Services
  4. Target Market
  5. Marketing & Sales Plan
  6. Milestones & Metrics
  7. Management Team
  8. Financial Plan
  9. Appendix

Writing down each of the components helps define the visuals and metrics to your readers who will eventually be part of your operation in your company.

Within each of the components have a specific overview of what is listed above; it is a well-defined piece of information for your audience or reader to whom you are either appealing to as investors, primary personnel, bankers, or consumers that we want to know about the company and the type of business you and your company would like to be.

The qualitative and quantitative data is the metrics and measures that is reviewed in the scheme is essentially visually appeal to your readers and what makes the business lucrative is your opinions and the metrics or measures of the business, along with a data analysis, reporting, and systems query that it serves the business with an insightful view of critical and integral parts of the company operation. This part of the summary in the business plan is detailed in specifying who, what, where, when, and how the business operates in its business environment.

Not only does this intelligence lead into the analytics of why it happened or will it happen again it sets it apart from the informational part of the business plan because it is specific to the data and the party who takes action to make it happen. Although it may happen interchangeably in the operational actions of the business it is separate in its function or description of function.

Keep in mind that there are people that read your company profiles and public information to find out what type of business enterprise you have and what type of product you are selling. Your business plan should include specifics about its targeted audience, the demographics, and the way you expect to reach the consumers or segments of population that you want to sell to in a cohesive fashion.

This also should include specifics about the legal structure and company history of the business as it evolved. Be aware that this living document could be changed at any time as your company evolves also. For example, when the company started out, it started as a traditional retail store, however it has evolved into an Internet giant.

References

Antonucci, M. (2011). 70 Percent of Americans Play Video Games. Retrieved from

http://www.military.com/entertainment/games/game-news/70-percent-of-americans-play-video-games

Kotler, P., & Keller, K.L., Marketing Management (13th Ed.). Upper Saddle River, NJ: Prentice-Hall.

O’Regan, M., Askok, K., Maksimova, O., & Reshetin, O., (2011). Optimizing Market segmentation for a global mobile phone provider for both targeting and Insight. Journal of Advertising Research; 51 (4), 571-577 American Psychological Association.

Perrault, W.D., Cannon, J.P., & McCarthy, E.J. Jr. (2009). Basic Marketing: A marketing strategy planning approach (17 Ed.). New York, NY: McGraw Hill.

Simoneaux, S.L., & Stroud, C.L., (2011). SWOT of Pension Benefits: Issues of Administration, 18 (3), 75-78 (American Psychological Association).

Villaneda, R., (2011). Ticket to Growth: The benefits of networking through social media are optimal for small businesses.

Internet:

http:// http://www.about.com/

http://checklist.com/business-plan-checklist/

http://articles.bplans.com/how-to-write-a-business-plan/

http://forbesmagazine.com

http://www.guardian.co.uk/sustainable business/sony-untapped-audience-crowdsourcing-pr…

http://www.smartmoney.com

http://www.sonystyle.com/webapp/WCS/Stores

http://www.nationalartsmarketingproject.com/ Rasmussen Reports. (2011). Retrieved http://www.rasmussenreports.com/public_content/lifestyle/general_lifestyle/poll_24_rent_movies_at_least_once_a_week

http://www.forbes.com. (2006). Five Best Marketed Companies. Retrieved from

http://www.forbes.com/2002/08/01/0801marketers.html

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