Key Performance Indicators – KPIs as they are fondly called are basically what organisations or individuals to measure performance. As the name states, they are the important indicators or measurements that are aligned with the goals and objectives of the organisation, department, team or individual.
Some organisations do not have indicators whilst others have and do not get value from it for some reasons that would be identified later in this blog.
- Not Knowing What to Measure
Peter Drucker, an Austrian Management Consultant stated that – “What gets measured, gets done”. In other words, if you want to get a job(s)/set of tasks done/completed, measure it! That way, you would know if it has been done.
Confusion sets in when the deliverables are not well defined by the Superior(s) – this is often the case when the Superiors themselves do not understand what should be measured. Since KPIs are performance indicators for an organisation, what is being measured should depict the short term and possibly long term goal or ideal of the organisation.
- Misunderstanding of Company’s Interest
The mission statement and vision of any organisation should not only be visible in every nook and cranny of an organisation’s premises, it should be broken down to simple understandable terms.
As earlier stated, one size does not fit all when it comes to KPIs as most organisations are unique in their goals and objectives. To accurately know what to measure, the individual, team or department needs to align with the organisations goals – this can only be done with the right and accurate understanding of the company’s objectives. This can be achieved by making sure the top management fully buy into the objectives and they adequately pass it down to their direct reports till it gets to every facet of the organisation.
- Definition of Success
“The world makes way for a man who knows where he is going” – Ralph Waldo Emerson. If the destination is not defined, it is impossible to get there and likewise for KPIs; success is defined by the preferred destination.
The preferred destination in terms of KPIs is the defined goal and objective as put down by the management of the organisation. Once the KPI meets the number(s) set, then that is success!
We, at DataXpert have not only worked with most of the leading data analysis and reporting software applications, we also have the trained eye to spot trends and proffer solutions to decision makers. This expertise has been acquired by our Consultants having worked in different industries at different levels.
Call on the Gurus in the field of Big Data to help you predict the much desired future accurately. Contact us at DataXpert to make decision making in your organisation seamless and make your competitors to always be a step behind.
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