A KPI or “Key Performance Indicator” is one of the best tools to monitor your company's goals. KPIs keep the business’s key objectives as the main focus when making decisions. It's imperative that the KPIs are communicated throughout the entire company. Each individual member knows and is responsible for their own actions that impact the KPIs. Measuring and communicating the KPIs ensure the business’s overall goals stay in focus.
The best place to visualize all of your KPIs is on a dashboard. A dashboard is going to let you see all of your KPIs together and this will give you a fuller picture on how you’re performing on each different measurement. This could be a measure of job functionality/performance or could be marketing related and measure the data coming in from your website ( example: how many visitors converted to leads per month). Here are 5 tips to make your KPI Dashboard drive action:
Leaders identify KPIs that support the business’s strategies, so all KPIs should be quantitative - can we measure this with an existing data set or do we need to implement something new, feasible - is this goal reasonably obtainable, and purposeful - does this KPI show that we are headed in the right direction. If you haven’t identified your KPIs, it’s time to rally the troops! Need help? Drop us a line!