What are Key Performance Indicators?
Key performance indicators are the mission critical metrics that make the most difference to your business. Organisations use KPI’s to focus efforts in the right areas and to measure and evaluate performance.
The most common KPI is “revenue” which defines how much money is coming into the business through sales and income streams. The metric itself isn’t enough though, when we define KPI’s we should also set target values which can be reviewed at a later date.
By having a clear idea of where the business is and where it needs to get to we can come up with a timeframe and set of quantifiable KPI’s to assess the progress.
