KPI’s measure your company’s performance. Here’s how.

KPI (key performance indicators) are popular uses of contemporary metrics. KPIs give you valuable information about how your company is performing relative to your goals and competition. KPIs help you evaluate your business’s performance and success.

Success is a moving, often subjective, target. It all depends on how you define success.

Modern technology can help you use metrics without having a cadre of MBAs on your staff. But this technology is only as valuable as you want it to be. Building in KPIs that you find meaningful is critical to effectively measuring and tracking the performance of your business.

KPIs will highlight how well you’re doing with achieving your company goals and objectives. Key performance indicators are more valuable than opinions, however well-informed. KPIs can take any form and include any variables you want. Performance indicators can vary with industries.

For example, supermarkets often work on tight margins, often as thin as one percent. Other businesses consider anything less than 15 to 25 percent margins as failures. Design your KPIs to fit your goals and industry.

The Carleton Group can help. Their experience as state-of-the-art management consultants will help you define the objectives that are important to you. Contact The Carleton Group to learn all you need to know to use metrics, like KPI, to make your business more profitable and successful.