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Understanding Key Performance Indicators

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22 pages14 minutes

Summary

Key Performance Indicators (KPIs) represent a set of measures focusing on those aspects of business performance that are the most critical for the current and future success of your business. There are lots of KPIs that should be measured within a business so I have selected the seven most important KPIs that you should start using today.

A Key Performance Indicator is a quantifiable measure a company uses to determine how well it meets the set operational and strategic goals. This means different businesses have different KPI's depending on their respective performance criteria or priorities. At the same time, the indicators are usually follow industry-wide standards.

KPI’s are an actionable scorecard that keeps your strategy on track. They enable you to manage, control and achieve desired business results.

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