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Why use KPIs?

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why use KPIs

Using Key Performance Indicators to monitor a company’s performance provides several advantages.

The most important benefits refer to:

Clarity:

  • 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.

Focus:

  • KPIs enable better communication;
  • KPIs ensure alignment and synergy between departments;
  • KPIs facilitate better control.

Improvement:

  • 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.

References:

Protecting against financial fraud with KRIs
Going beyond Customer Satisfaction with Net Promoter Score
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