![]() So making sure you identify where this data is coming from will save you a lot of time.Īnd then frequency. Most organizations have all sorts of data sources, fragmented systems. So where is it coming from? Be clear about what the source is. Third thing, we actually run a report on this data. So this is a number, this is a percentage, this is a percentage, you get the idea. The other thing is the measure and the target need to work hand in hand. So the due date in the target works hand in hand. So we want to achieve 1000 new customers by the end of the year. So a couple of things that are important about this is, the target needs to be apples to apples with when the goal date is set, or the due date is set. Number two, is our target, or target is the numeric value that we want to achieve. So number of new customers, let’s say this year, And when it comes to measuring it on a monthly basis, you’re gonna want to be as clear as possible. So what is it is it? Yeah, so it is, so be really clear. But a little bit advanced or a little bit more expressive, would be number of new customers this year, or number of new customers for a certain product or a certain service. The tricky thing is, is we need to be as expressive as we possibly can with our measures. So the measure is the verbal expression very simply, in words, what are we measuring, which is fairly straightforward. Okay, so the four things you need to have in order to make sure your these measures work for you. So KPIs are the thing that do that for us. They tell you whether you’re making progress, and ultimately, we want to make progress against our strategy. And before I talk about those four attributes, so I just want to say the reason they need to work well for you is because KPIs are the heartbeat of your performance management process. But before we do, putting great measures together and making sure they work well for you, you need to have these four attributes. So we’ll talk about that in just a minute. So KPI’s answer the quantifiable piece of your goals and objectives. These are those things that are associated with either goals or objectives, whatever you’re calling them, those elements of your plan that are the expressions of what you want to achieve by when those quantifiable outcome-based statements. Today’s whiteboard video is on key performance indicators, or KPIs for short.
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