Category: KPIs & Analytics
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Digging Deeper — Mastering KPIs for Mining Industry Success
Like the miners who delve into the earth’s depths seeking precious resources, business leaders in this sector must dig deep into their operations to unearth critical insights. Key Performance Indicators (KPIs) are the right tool for the job. When used strategically, KPIs are more than numbers, they are metrics that drive meaningful action and align…
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Developing a Winning KPI Strategy for Long-Term Profitability
Business is moving faster than ever, making it challenging for companies to monitor their progress in real time. For growing companies, particularly those in the volatile mining and distribution industries, a delay in getting the truth surrounding vital financial and operational metrics can make it challenging to stay on the path toward long-term profitability. However,…
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KPI monitoring for the Mining industry
Mining the Facts: Using KPIs to Monitor Progress, Control Costs, and Drive Performance Editor’s note: This article was initially published in 2018 but has been updated with current data and new insights. Oh, how we love to measure things. It seems like it’s hardwired in us to look for ways to monitor and compare things.…
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Business Intelligence Data Allows Mining Companies to Look Ahead
For a mining company seeking sustainable growth and profitability, information is critical. You are already be generating a tremendous amount of data from the field and the office, but how quickly and how effectively are you able to access and analyze that data to unlock the actionable insights within? Gaining access to actionable data requires…
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Digging for the Data
5 Better Business Reporting Tips for the Mining Industry Modern companies produce an enormous volume of data — 2.5 quintillion (one billion billion!) bytes of data every day. And somewhere in all that data is some pretty good stuff — if you’re able to unlock it and view it in an easily digestible format. In our last post,…
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Get Closer To The Mining Data You Need To Make Prudent Business Decisions
Mining projects begin with a detailed exploration of an area of interest and geological data is collected and evaluated. Data can be used to determine the potential financial benefit of the project as well as how to proceed with mining operations. The Mount Polley breach is an example of how data could be misinterpreted or,…
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You Can’t Control Costs When Your Data Is Buried
Successful mining operations need quick access to key data in order to make smart decisions. Key performance indicators (KPIs) are commonly used to monitor and measure operations so that mining companies can respond quickly to problems or areas of need. You can’t find data quickly when it’s buried in spreadsheets or lost in specialty software. …
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Mining Companies Can Achieve Strategic Goals By Monitoring Key Metrics (KPIs)
If you can measure it, you can monitor it, then you can use that insight to achieve strategic goals. That is the idea behind using key performance indicators (KPIs) to promote continuous process improvement. Mining companies can’t rely on disparate, specialty solutions to monitor data. In order to identify trends and respond faster, you need…