Why use KPIs?
Using Key Performance Indicators to monitor a company’s performance provides several advantages.
The most important benefits refer to:
- KPIs allow you to make use of big volumes of data and make decisions based on information;
- KPIs outline underperforming business areas;
- KPIs provide an objective overview of the business.
- KPIs enable better communication;
- KPIs ensure alignment and synergy between departments;
- KPIs facilitate better control.
- KPIs allow you to take corrective actions to improve performance;
- KPIs provide effectiveness as they monitor and reflect an organization’s progress towards reaching its strategic objectives;
- KPIs positively affect productivity.