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KPI is a type of performance measurement that helps you understand how your organization or department is performing. A good KPI should act as a compass, helping you and your team understand whether you’re taking the right path toward your strategic goals. To be effective, a KPI must:
The trouble is, there are thousands of KPIs to choose from. If you choose the wrong one, then you are measuring something that doesn’t align with your goals. How, then, should you go about selecting the right KPIs for your organization?
The best way to accomplish this is by researching and understanding some of the most important KPIs. This way, you’ll have a better understanding of which ones are specific to your industry and which ones will be of no benefit.
18 Key Performance Indicator Examples & Definitions