What is Share of Requirements?
Share of Requirements (SOR) is a metric that measures how well a business is meeting its customer’s needs. It is a measure of the percentage of customer requirements that have been fulfilled by the business. It is an important metric for businesses to track, as it can provide insight into customer satisfaction, product quality, and customer loyalty.
Why is Share of Requirements Important?
Share of Requirements is an important metric for businesses to track because it provides insight into customer satisfaction, product quality, and customer loyalty. It helps businesses understand how well they are meeting customer requirements and allows them to make decisions about future products and services. It can also help businesses identify potential opportunities for improvement.
Examples of Share of Requirements
- A business selling electronics might measure its Share of Requirements to determine how well it is meeting customer needs for the latest products.
- A restaurant might measure its Share of Requirements to determine how well it is meeting customer needs for quality food and service.
- An online retailer might measure its Share of Requirements to determine how well it is meeting customer needs for fast shipping, product availability, and customer service.
Conclusion
Share of Requirements is an important metric for businesses to track and measure. It provides insight into customer satisfaction, product quality, and customer loyalty, and can help businesses make decisions about future products and services.