Advanced Analytics – KPI & Dashboard: “If you can’t measure it, you can’t manage it” – Peter Drucker

A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.

Selecting the right one will depend on your industry and which part of the business you are looking to track. Each department will use different KPI types to measure success based on specific business goals and targets.

Once you’ve selected your key business metrics, you will want to track them in a real-time reporting tool. KPI management can be done using dashboard reporting, giving your entire organization insights into your current performance.

KPI’s and Dashboards enables businesses to turn data into analytics and insights. This allows organisations to enter their data into one specially designed system, or connect external services for faster and more accurate data collection. Well-designed Dashboards allow businesses to visualize and comprehend data from a number of KPIs that represent different areas of a business, all in one place. Companies benefit from faster and more accurate data collection, instant reports on performance, and alerts when a key performance indicator is over or under achieving. It centralizes businesses data, while simplifying real-time reporting to always give them a competitive edge.

To be useful, key performance indicators need to be monitored and reported on; if they change in real-time, they should be monitored in real-time. KPI Dashboards are the perfect tool for your performance tracking reports as they can be used to visually depict the performance of an enterprise, a specific department, or a key business operation.