A Business Metric is a quantifiable measure that is used to track and assess the status of a specific business process.  Most business owners are able to focus on some of the obvious metrics of their business however frequently these owners don’t have the information on hand to move the business up to the next level.  Using Excel to collect and analyze this important business data will assist owners in achieving this.

Key metrics can include:

• Tracking sales revenue,
• Customer loyalty and retention,
• Cost of customer acquisition,
• Operating productivity,
• Size of gross margin,
• Monthly profit or loss,
• Overhead costs,
• Variable cost percentage,
• Inventory size, and
• Hours worked per process.

These can easily be tracked in Excel with results being shown in visually appealing dashboards which will be updated as the metrics change.   Developing and having this information on hand will assist you in developing the successful business you desire.