KPI

(noun)

Key Performance Indicator; a tool to measure performance.

Related Terms

Examples of KPI in the following topics:

  • Methods for Evaluating Marketing Performance

    • KPIs, ROMI, and Accountable Marketing are all metrics that are used to track marketing performance.
    • Organizations use various methods to evaluate marketing key performance indicators (KPIs) or metrics.
    • In order for marketing KPIs to be integrated within the business and management of the enterprise, and ensure consistency and reliability across the marketing mix, they must meet these minimum requirements:

  • The Importance of Evaluating Marketing Performance

    • Marketing performance metrics or key performance indicators (KPIs) are useful not only for marketing professionals, but also for non-marketing executives.
    • From the chief executive officer to the vice president of sales, the senior management team needs marketing KPIs to gauge how marketing activities and spending impact the company's bottom line.

  • Customer Service as a Supplement to Products

    • The challenge is not to come up with a lot of meaningful KPIs, of which there are many, but to select a few that reflect the company's overall strategy.
    • The focus must be on those KPIs that will deliver the most value to the overall objective, for example, cost saving and service improvement.

  • The Importance of Performance Targets

    • KPIs are usually understandable, meaningful, and measurable.

  • Moving to Flexible Work Schedules

    • Design key performance indicators (KPIs) for remote workers.
    • These KPIs can also be used to measure the effectiveness of in-office staff and maintain an equivalence among the distinct employee categories.

  • Balanced Scorecards

    • A balanced scorecard is a semi-standardized strategic management tool used to track, monitor, update, and improve key performance indicators (KPI) within an organization.

  • Customer Concerns

    • Merging this data with customer service Key Performance Indicators (KPIs) also helps direct the company's attention to areas where customer feedback can make a positive impact (e.g., cost savings, service improvement) on the overall organization.