Determining Your Company’s Key Performance Indicators

A question frequently asked by businesses of all sizes is what should my Key-Performance-Indicators (KPIs) be and how many should I have? They often look to other companies in their industry including suppliers and customers to see what they may use to run their business. Frequently, they are fraught with frustration by the lack of data in the public domain.

Fortunately, you don’t need to look to outside data sources to determine the best KPIs for your business, division or department. The identification of KPI’s begins with defining the organization’s strategy. One of the most effective frameworks used in strategic planning is called Objective and Key Results (OKR). Using OKR you can ascertain what is most important to the organization and focus the energy on a handful of KPIs that you know will drive results.

View the full article on FP&A Trends website here.