KPIs, or Key Performance Indicators, are metrics which ideally reflect the health of a business at a given point in time (usually monthly or quarterly). Here is a quick and rough guide to get you started with using KPIs in your business:
What are KPIs?
Key Performance Indicators
Vary per company/industry
Selected metrics which specifically tie to company goals/mission/vision
Often compared to a benchmark value
Collected in regular time intervals
Used to make strategic business decisions
What are some examples of KPIs?
Revenue/profit per employee
Revenue/profit per product/service
# new contracts per unit time
Customer conversion metrics
Revenue/profit per unit time
Metrics which indicate level of employee or operational productivity