Analytics starts by knowing what to measure and track. But business activities create more data than companies can reasonably absorb. That’s why it’s critical for firms to understand which numbers to measure and how to calculate them.
Well-designed KPIs (Key Performance Indicators) should immediately inform how your department or organization is performing, and what action is required.
Raw numbers don’t communicate business success. For example, website measures which illustrate visitor behavior and traffic volume are not indicators of website success. Increasing hits, page views, and visitors may show that marketing campaigns are driving more visitors to the site, but not whether it’s performing well or not. Companies should fundamentally not care if page views and visitor numbers increase.
To extract real meaning from increases in page views or visitors it must be put into some context. The best way to accomplish this is to use KPIs which are numbers that describe calculated metrics such as ratios, percentages, rates, or averages. KPIs are calculations from measures. And you need to look at them over time. Instead of looking at number of visitors, we consider a percentage increase in visitors, week over week.
Companies often find it difficult to establish effective KPIs (Key Performance Indicators), and they rarely produce actionable numbers that inform how the business is performing. KPI Karta changes all that. It’s a proven methodology to help companies identify, measure and manage KPIs. The resulting metrics provide vital feedback and actionable insight that directly drive business goals.
Identifying key numbers to track using KPI Karta provides a map of how they were arrived at. It makes all staff more accountable and committed to their work, since they can see how their contribution makes a difference.
You are likely already tracking your high-level business goals such as revenue or how many new customers have come on board. While important, those results alone offer no insight as to why they were achieved—or not. What should you change, if anything? KPI Karta helps identify specific activities that affect your stated goals giving you an actionable road map to success. Learn more about How to Create KPIs that Drive Results.
Once you have established effective KPIs using this methodology, we can help you visualize your performance in a Tableau dashboard.
CONTACT A KPI SPECIALIST if you need help. We provide KPI consulting workshops that guide clients through the KPI Karta methodology to identify the best KPIs for their business.
|Our KPI workshops help you create KPIs that drive results and visualize performance in a Tableau dashboard.
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