"KPI" Explained: The Art of MEASURING Success 📊
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- čas přidán 21. 07. 2023
- Definition of KPI (Key Performance Indicator): A measurable number used to track success. These quantitative numbers or metrics can come from someone filling out a form, records and reports, customer feedback, production logs, analytics, and more.
Example #1: A construction project manager is keeping track of important KPIs like project milestones, resource utilization, and project financials in order to have a successful project.
Example #2: A car company setting KPI goals for its factories and vehicles to decrease emissions. The KPIs would then be tracked and reported on.
Sentence #1: "As part of the employee evaluation process, the HR department considers individual KPIs related to productivity, quality, and teamwork."
Sentence #2: "The marketing team's KPI for this quarter is to increase website traffic by 20%."
Your Turn! Use KPI in a real-world sentence below, and I'll verify or correct every single one! 👍😉
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Thanks
You bet! Does it make a little more sense to you now??
Try using KPI in a real-world sentence here! I'll verify or correct each one. 👍😀
Decrease cost by 20%
Definitely an example of a KPI! So, if you were to plug "KPI" into that same example, you could say, "Our car wash manager asked us to focus on our cost KPI by decreasing it by 20% this year," or something like that. Nice job! 😃
I just posted a definition video on barriers to entry (czcams.com/users/shortsK28lOO9VwLw). What would some barriers to entry be for the car wash industry??
My kpi for this month is to sell 5 houses
Nice job, Jojo! I might add ONE word to help bolster your sentence: "My target KPI for this month is to sell 5 houses." There are many different kinds of KPIs, and that helps clarify which type (i.e., a target/goal KPI). Does that make sense? Again, great job!
And your artwork is absolutely stunning! 😍 Keep creating!
visiting and prospecting 10 companies daily ?
This could be an example of a KPI! Here are some questions to determine if it's a KPI: do you track this number (i.e., visiting 10 companies) each day, week, month, year, and year-over-year? If so, it's definitely a KPI. Do you report this number somehow and display the results in a report of some sort? If so, definitely a KPI. =-) Does that make sense?
Increasing Monthly View count on CZcams by 20%
Absolutely an example of a KPI there! Nice job. Now the hard part will be to sustain a 20% month-over-month growth rate! ;-)
And super impressive having over 1K subs having just started in August! That's impressive. Keep up the awesome work! Those Ali days were the glory days I've heard so much about from my dad! =-)