Bare with me as I embark on a subject I recently learned more about.
KPI’s, or Key Performance Indicators, allow for the individual to track business metrics that lead to financial results. However, using KPIs allows one to spot problems far before reaching the financial statement.
Further, KPIs can measure things that are important yet not directly correlated to financial results short term like customer satisfaction, employee satisfaction etc
KPIs are important because what gets measured gets improved. What doesn’t get measured, you guessed it, goes unnoticed and likely gets worse over time.
Learn more about KPIs and how they can help you! Google KPI and go from there.