Key Performance Indicators (KPIs) are quantifiable business metrics used to measure and track an organization’s performance and progress towards its set goals and objectives. When used correctly, KPIs can help organizations gauge the overall performance of their business, provide focus and direction to their teams, and foster strategic alignment across all business units.
There is no question that KPIs are useful. The challenge however is, how do you select the right KPIs for your organization? With so much data and metrics available, the task of selecting the right KPIs might seem daunting and complex. It doesn’t have to be.
To select the right KPIs for your business, we have compiled three useful tips in this article.
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