Measure for growth – what are the right metrics for every IoT stage?

#News(Startup) [ via IoTForIndiaGroup ]

Your focus naturally shifts according to which stage of your journey you’re at, writes Pilgrim Beart the chief executive of DevicePilot, so ensuring you’re always focused on the right things is the key to becoming established on a successful growth trajectory.
Capturing proposition metrics reveals how the device is being used, so, for example, you can answer:
• Did it get successfully installed?
• Which features are being used, such as which buttons are being pressed?
• Does it get used regularly? For consumer devices you want to check you’re not suffering from the fabled ‘time-tokitchen-drawer’ which presages churn.
Capturing technology metrics can reveal the underlying function of your devices. Some examples include:
• Battery life and how it varies
• Signal strength – by location, by SIM vendor and other factors
• Application crashes and free memory
To test whether you’re ready to embark on your next stage of growth, decide on a set of quality metrics such as:
• Less than N% new software bugs reported
• Uptime more than X%
• Customer support calls less than Y% per week
• Battery life more than Z%

Scale-up
At this stage you’ll probably be growing to thousands and then tens of thousands of devices deployed.
You will define a set of key performance indicators (KPIs) and track them to prove you are meeting your service-level agreement (SLA), for example:
• A KPI called uptime might be defined as: number of devices working at least 95% of the time in the past week
• An SLA might be defined as: uptime >90% over the past 30 days

Read More..