One of the critical elements in managing decisions is understanding the business objectives and metrics used to measure the success of the business. For BigCo one objective and one metric have been identified as critical for this effort- Customer Retention Rate (a regularly monitored metric) and Improve Customer Profitability (an objective for the current project). In DecisionsFirst Modeler we model both metrics and objectives using the Business Objective object.
Let’s go ahead and create these two objectives.To create an objective you can check out the guidance here or just navigate to the Business Objective button on the Create menu.
A new window will be open.
To create the first Business Objective, enter the name “Customer Retention Rate” and the description “Metric - the percentage of customers who were customers in the previous calendar month that are still customers in this calendar month. #tutorial” Save and close. Repeat to create the second “Improve Customer Profitability”, “Target - for this fiscal year it is important that we improve our overall customer profitability. #tutorial” Again, save if you want to and close.
TIP: When you do this for your own project make sure you focus on the business objectives not technical ones like system performance or number of reports. Also rethink your decision list once you have a set of objectives. Thinking through which decisions you make that affect each objective is often very informative and results in new decisions being created.
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