Want to find out the kpi definition?

Posted by johnssmith00 on May 31st, 2013

smartKPIs.com offers you the kpi definition and presents you examples from all around the world, so that you can make an idea about these concepts and how they help you improve the development of your business. There are so many businesses out there and you will have to survive in the “jungle”. So document yourself about metrics, measures and performance indicators so that your “armory” should be flawless.

The strategic or operational performance, at team or individual level, is a major goal of any company. To appreciate the extent to which the organizational goals are achieved and the business strategies are effective, it is imperative to define an integrated system of performance indicators that can tell us at any time if our business is going in the right direction or not.

Moreover, any management decision should be based on a good knowledge of the current state of the business, which is not possible in the absence of a system of performance indicators to inform management about the results obtained in all key activities and processes of the company. So basically this is the kpi definition.

After you have found out the kpi definition, start making improvements. Set the expected values for a defined time period for each performance indicator. Follow then whether each target has been reached. You can use different graphics for different degrees of achievement of the objectives. In this way you will easily see how close you were to achievement. It would be great if you can put beside these values  a section explaining why these things happened.

There are different conceptual and physical tools for the measurement and evaluation and some of them are the metrics, measures, indicators and kpis that are used. The metrics are used as an instrument for quantification of the achievement. Thus, you will have an idea about the performance of your organization. This term is intertwined with other concepts, such as performance measure and performance indicator.

If you buy our latest book, which is entitled “20,000 Key Performance Indicators used in practice”, you will find numerous examples of key performance indicators gathered in one place from 15 functional areas and 24 industries. We provide you a large online database where we present examples tagged as measure, performance indicator or KPI. The examples we put at your disposal are carefully selected by our research team using criteria such as: listing in academic and practitioner publications that analyze their usefulness; frequency of use by Functional area / Industry; fulfillment of the criteria of how good KPIs should be defined and used.

Moreover, we present you some of the functional areas we work in: accounting, corporate services, environmental care, finance, health, safety, security and environment, human resources, information technology, management, marketing and communications, eCommerce, sales and customer services and more. Visit our website today and browse through the functional areas and industries in search of the one you are interested in.

Metrics, measures, performance indicators and more- smartKPIs.com offers you the kpi definition and how you can use these terms in your benefit.