Developing performance metrics and detecting outliers for management control

Abstract

Given that every business is drowning in data these days, it is hard to know what to do with it all. Diving in and trying to answer the questions “Where are we?” and “Where should we be going?” can be the most straightforward and impossible task all at once. Here is a brief case study where PROS Revenue Management answered these questions for a shipping client. Besides the intended outcome, there were by-product benefits to our client that could be used as tools for monitoring practices and tracking progress. Also included is a discussion of how these practices are more generally applied and implemented.