How Retailers Measure IT Implementation Success
Retailers use a variety of different technology for their website, apps, in-store operations, and distribution centers. It is vital to have a system in place to evaluate the benefits to the business. These measures are required to smooth the process of predicting current and future investments on technology. Since increased revenues and cost savings are standards for almost all retailers’ IT evaluation process, there are four areas each should focus on to be able to measure IT success. First, they need to realize what enhancements the investment will result in, and the problems it will resolve. Knowing what you have to measure if essential to measuring ROI. A calculable amount, like increased clients served, are key to identify before the start of a project. Second, retailers must carefully study staffing changes that may be necessary. Day-to-day operations may be impacted and must be identified before a large investment. Some projects may eliminate some departments completely, while others may create a new one. Third, retailers must be able to get support and funding from upper management. If someone in middle management doesn’t effectively communicate the initiate to those in charge, the project will most likely fail. Fourth, they must identify required training/resources needed. Much of the value in a new system is resulting from people knowing how to use it. Retailers that do not consider these four areas are likely to fail with measuring IT implementation.
What are some examples of retailers successfully implementing technology? What metrics can you identify to measure their success?