The Importance of Setting KPIs and How To Do It Effectively
Research has shown that 60% of fortune 500 organisations and therefore the most successful companies use KPIs in some form or other – which should underline the relevance of KPIs to delivering high performance within a business. But, why are they so crucial and how do they help businesses to drive performance and succeed? The answer to this is that in a complex, rapidly changing and competitive commercial environment, a well designed set of KPIs act like a digital dashboard, providing the senior managers with the tools and insight to monitor performance against their goals and make adjustments which will lead to performance improvements. Arguably managers that operate without a digital dashboard of KPIs are effectively ‘driving blind’.