As part of an analysis we term “transformatics,” we’ve built the capability to measure the data set we’ve assembled of more than 200 large transformations stretching back nearly a decade. More recently, we isolated the 82 public companies that had undertaken a full-scale transformation and had an observable 18-month transformation track record to see what we could learn from a statistical analysis of their experiences. The research highlighted four indicators that showed a statistically significant correlation with top-quartile financial performance during the 18-month test period (for more about the methodology, see sidebar “Transformatics: Inside the metrics of transformation”). Taken together, the four indicators suggest some potential lessons for senior managers seeking to maximize the odds of a successful transformation. Let’s look at each in turn.