Close

Search

Whitepapers

How Digitalization is turbo-charging KPI setting

Turning numbers on a glossy KPI dashboard into profit on your income statement. Digitalization can address many of the issues that have compromised KPI effectiveness in the past. We see a future where KPIs will be smart, backed up with changes in culture and organization to get the most out of the new information, and allowing digital technology to determine the optimum course of action.

Download full whitepaper

Whitepaper summary

Calculating and reporting KPIs is a routine practice in the energy and chemicals industry, it is key to helping decision makers act, and helping managers oversee performance. Digitalization can address many of the issues that have compromised KPI effectiveness in the past. Digitalization tools are helping increase the visibility and timeliness of KPIs, break down organizational silos and drive consistency across organization

However, this is not enough in itself. The challenges of poor underlying data, difficulties of setting targets and the interactions between conflicting KPIs mean that, all too often, KPIs are not effective in delivering any true improvement in performance.

We see a future evolving where KPIs will be focused on identifying exceptions and anomalies. KPIs will be smart, with targets adapting to variable situations optimized by rigorous modelling. KPIs will leverage predictive analytics rather than retrospectively measuring what went wrong. This will require changes in culture and organization to get the most out of the new information, and rigorous and robust technology to calculate the correct course of action.

In this paper we reprise the basic principles and objectives of KPIs with regards to achieving operational excellence, discuss some of the root causes for ineffective KPIs, and then explain how various Digitalization technologies and approaches can transform the effectiveness of KPIs in your business.

Share this

Download full whitepaper

Get in touch with us

Do you have a project which you are interest in working with us on?

You may also be interested in

WHITEPAPER

European refining 2050: Turning the vision into reality

Aug 15, 2019

Europe’s refiners, through their industry organization Fuels Europe, have set out their long-term ambitions in a new program called Vision 2050. Putting this vision into practice will require Europe’s refiners to rethink and rebuild their long-term strategies, along the way transforming their organizations into modern, flexible knowledge-based enterprises. Read more in this market insight by KBC Chief Economists.

Read full article
WHITEPAPER

Improving energy and sustainability with cloud-based services

Aug 15, 2019

A Co-Pilot in the Cloud enables collaboration between process plants and service providers to improve operations.

Read full article
WHITEPAPER

Reliability engineers are wasting your time only telling you about reliability

Aug 15, 2019

The focus should be on providing information and understanding directly to the decision makers in a way that drives the business as a whole to make improvements in reliability.

Read full article

Get the latest updates from KBC

Sign up to our newsletter to receive our latest innovations, viewpoints and be informed about any upcoming events.