Marketing Generics Application Note:
How to Design a KPI in 5 Simple Steps
Key Performance Indicators, or KPIs, are an essential part of business management today enabling you measure business performance. As was famously said, if it’s not being measured, it’s not being managed. But in practice there are many different types of KPIs, so you first have to select the right type of indicator, and it’s not always clear to everyone how to create one. Moreover, there are good ones and bad ones, so you need to make sure you can write a good KPI – one which will be useful for you, informative and correct. This Marketing Application Note explains how to design a KPI in 5 simple steps.
Keywords: KPI. Key Performance Indicators, KSF, Key Success Factors, Tesco’s Steering Wheel, SMART, Morrisey’s 4 point model, leading indicators, trailing indicators, outcome-based indicators, activity-based indicators, operations-based indicators, choosing the appropriate indicator