If you're a small business owner, you may wonder how KPIs can help your company grow. The truth is that measuring performance against the competition matters whether you have fewer than 50 employees or run a large enterprise.
Understanding how the right KPIs can make a difference in your industry is essential. Equally important is learning how to get the right information for accurate KPI dashboards. From sales to marketing to operations and finance, every department needs its own set of KPIs. Yet, each of these metrics should tie into specific business goals to keep everyone on the same page.
So, KPIs are more than numbers on a weekly report. With the proper tools, you can use these measures to check on the health of your business and make critical adjustments to stay on track with your organization's goals. Keep reading for the KPI meaning and examples of KPIs.