Success Path
Everything you need to implement IoT for remote monitoring

Set Goals and Metrics

After you finalize your business use case, identify your goals. Then determine which metrics will help you measure progress. Share this information with stakeholders and the project team to build momentum. 

Identify goals

Your goals will depend on your organization’s strategic initiatives and the use case outlined for your project. Confirm the use case and the desired outcome before moving forward. Keep the project scope in mind so you measure the right things.

Identify goals that will address the business challenges within the use case. How will ThingWorx help you realize your use case? All of your goals should be measurable. 

Some examples of goals include: 

  • Generate a specific amount of revenue in a specified amount of time 
  • Reduce service costs by a specific amount 
  • Connect and monitor a certain number of products in a specified amount of time 

Involve executive and service leadership in setting goals. If your organization has someone leading digital transformation, include them. 

Determine metrics

After you identify goals, determine the metrics you’ll use to measure progress. As an example, say one of your goals is to reduce service costs by a certain percentage. Your metrics might include how many trips service people make per product and the amount of time they spent on each trip. Other common examples Include: 

  • First time fix rate 
  • Mean time or total time to repair 
  • Percentage of software upgrades performed remotely 
  • Percentage of customer issues resolved remotely 

Verify whether you can measure the metrics that you identified. Talk with people in your organization who have access to data or collect data. That way you can set realistic expectations of what is possible. If you’re not measuring these things currently, begin now. 

Finalize goals and metrics

Collaborate with stakeholders and executive leadership to finalize goals and metrics. Make sure the project sponsor, key leaders, and other team members agree on the goals.

Establish a thorough understanding of: 

  • What the goals are 
  • How metrics will be tracked 
  • Who is responsible for tracking metrics? 

Document baseline metrics

If possible, document your organization’s “as-is” state, or baseline metrics. This will help you prove that ThingWorx had the intended effect on your organization later. For example, if your goal is to reduce service costs, record the metrics of your current state of service costs before you implement ThingWorx. 

In some cases, it may not be possible to get accurate baseline metrics. Maybe you’re not able to measure the right things right now, but you will have better capability after ThingWorx has been implemented. If exact metrics are not available or not accurate, estimate high-level baseline metrics. 

Document a plan to measure progress

After you identify your goals and metrics, document a plan for how you’ll measure progress and success.

In your plan, outline the following:

  • Short-term goals of the initiative
  • Long-term goals of the initiative
  • Metrics 
  • Roles and responsibilities 
    • Who will track and report performance?
    • Who needs to be informed?
  • Key milestones
  • Baseline metrics (current state) 
  • Other items as needed

Share your plan to measure progress with stakeholders. Refer to it throughout the project to make sure you’re on track. 

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