“What gets measured gets done” If we measure something, we are more likely to do it. This idea is important for people who work in business. They learn that the main problem is not deciding what to measure but figuring out how to measure it. After measuring, they still need to decide how to judge the results (the "metric") and how to track if a new product is successful over time (KPIs). This is a key concern for everyone in business because picking the wrong thing to measure can cause a business to fail.
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“What gets measured gets done” If we measure something, we are more likely to do it. This idea is important for people who work in business. They learn that the main problem is not deciding what to measure but figuring out how to measure it. After measuring, they still need to decide how to judge the results (the "metric") and how to track if a new product is successful over time (KPIs). This is a key concern for everyone in business because picking the wrong thing to measure can cause a business to fail.
“What gets measured gets done” If we measure something, we are more likely to do it. This idea is important for people who work in business. They learn that the main problem is not deciding what to measure but figuring out how to measure it. After measuring, they still need to decide how to judge the results (the "metric") and how to track if a new product is successful over time (KPIs). This is a key concern for everyone in business because picking the wrong thing to measure can cause a business to fail.
Welcome to our course on Key Performance Indicators (KPI’s) and how we use to measure our success in business. Together, we will explore the power of Key Performance Indicators (KPIs) to propel your business towards its strategic goals with our in-depth course. Designed for those new to the concept, this course demystifies the selection, implementation, and analysis of KPIs as vital tools for gauging and guiding success. By exploring both theory and practical applications, you'll learn to identify crucial KPIs that align with your business objectives, implement them to capture actionable insights, and use this data to make informed strategic decisions.
This course is tailored for Business Analysts, Managers, Team Leaders, and anyone interested in performance measurement and strategic planning within a business context.
No prior knowledge of KPIs is required, making it accessible to learners from various backgrounds. A basic understanding of business concepts will be beneficial but not mandatory.
This course is your first step toward leveraging KPIs to monitor progress, enhance operational efficiency, and achieve your business's strategic aims.
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Activities
Read: Performance Management - Measuring and Improving Results
Show steps
This book provides a comprehensive overview of performance management and will help familiarize you with the key concepts you can apply in this course.
View
Competing on Analytics: Updated, with a New...
on Amazon
Show steps
-
Read sections 1-4 to gain an understanding of performance management and its importance.
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Read sections 5-7 to learn the principles of effective performance measurement.
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Read sections 8-10 to explore techniques for improving performance.
Watch tutorials on KPI tracking
Show steps
These tutorials will provide you with a clear understanding of the methods and tools used in KPI tracking.
Show steps
-
Watch the tutorial on 'How to Measure Your KPIs'.
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Watch the tutorial on 'The 5 Most Important KPIs for Business'.
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Watch the tutorial on 'How to Create a KPI Dashboard'.
Complete practice exercises on KPI selection
Show steps
These exercises will help you develop a strong understanding of how to select the right KPIs for your business.
Show steps
-
Identify 5 key business objectives for your company.
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For each objective, identify 3-5 potential KPIs that could be used to track progress towards that objective.
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Evaluate each KPI based on the SMART criteria (specific, measurable, achievable, relevant, time-bound).
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Select the best KPIs for each objective.
Five other activities
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Attend a meet-up or conference on KPI measurement
Show steps
Meeting with other professionals working in this domain can help to broaden your view on KPI measurement as well as assist you in expanding your understanding of related concepts.
Show steps
-
Find a meet-up or conference in your city that focuses on KPI measurement.
-
Register for the event and attend.
-
Talk to other attendees about their experiences with KPI measurement.
Participate in a peer review of KPI reports
Show steps
By reviewing the KPI reports of your peers you can enhance your understanding of different approaches used in KPI reporting.
Show steps
-
Form a peer review group with other course participants.
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Each member of the group should create a KPI report.
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Exchange reports and provide feedback to each other.
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Discuss the feedback received and make improvements to your KPI report.
Design a KPI dashboard
Show steps
Creating a KPI dashboard will reinforce your understanding of how to select and track KPIs, as well as provide you with a valuable tool for your own business.
Show steps
-
Identify the key metrics you want to track.
-
Choose a data visualization tool and create a dashboard.
-
Configure the dashboard to display the selected metrics.
-
Share the dashboard with others for feedback and review.
Create a collection of resources on KPI measurement
Show steps
Gathering useful resources on KPI measurement in one place will provide you with a valuable reference tool for future use.
Show steps
-
Search for articles, blog posts, and other resources on KPI measurement.
-
Create a document or spreadsheet to store the resources.
-
Organize the resources by topic or category.
-
Share the collection with other course participants.
Mentor a junior colleague or student on KPI measurement
Show steps
Sharing your knowledge with others can help cement your understanding of KPI measurement while also assisting in the growth of others.
Show steps
-
Find a junior colleague or student who is interested in learning about KPI measurement.
-
Meet with them regularly to share your knowledge and experience.
-
Provide feedback on their work and answer their questions.
-
Celebrate their successes and encourage them to continue learning.
Read: Performance Management - Measuring and Improving Results
Show steps
This book provides a comprehensive overview of performance management and will help familiarize you with the key concepts you can apply in this course.
View
Competing on Analytics: Updated, with a New...
on Amazon
Show steps
- Read sections 1-4 to gain an understanding of performance management and its importance.
- Read sections 5-7 to learn the principles of effective performance measurement.
- Read sections 8-10 to explore techniques for improving performance.
Watch tutorials on KPI tracking
Show steps
These tutorials will provide you with a clear understanding of the methods and tools used in KPI tracking.
Show steps
- Watch the tutorial on 'How to Measure Your KPIs'.
- Watch the tutorial on 'The 5 Most Important KPIs for Business'.
- Watch the tutorial on 'How to Create a KPI Dashboard'.
Complete practice exercises on KPI selection
Show steps
These exercises will help you develop a strong understanding of how to select the right KPIs for your business.
Show steps
- Identify 5 key business objectives for your company.
- For each objective, identify 3-5 potential KPIs that could be used to track progress towards that objective.
- Evaluate each KPI based on the SMART criteria (specific, measurable, achievable, relevant, time-bound).
- Select the best KPIs for each objective.
Attend a meet-up or conference on KPI measurement
Show steps
Meeting with other professionals working in this domain can help to broaden your view on KPI measurement as well as assist you in expanding your understanding of related concepts.
Show steps
- Find a meet-up or conference in your city that focuses on KPI measurement.
- Register for the event and attend.
- Talk to other attendees about their experiences with KPI measurement.
Participate in a peer review of KPI reports
Show steps
By reviewing the KPI reports of your peers you can enhance your understanding of different approaches used in KPI reporting.
Show steps
- Form a peer review group with other course participants.
- Each member of the group should create a KPI report.
- Exchange reports and provide feedback to each other.
- Discuss the feedback received and make improvements to your KPI report.
Design a KPI dashboard
Show steps
Creating a KPI dashboard will reinforce your understanding of how to select and track KPIs, as well as provide you with a valuable tool for your own business.
Show steps
- Identify the key metrics you want to track.
- Choose a data visualization tool and create a dashboard.
- Configure the dashboard to display the selected metrics.
- Share the dashboard with others for feedback and review.
Create a collection of resources on KPI measurement
Show steps
Gathering useful resources on KPI measurement in one place will provide you with a valuable reference tool for future use.
Show steps
- Search for articles, blog posts, and other resources on KPI measurement.
- Create a document or spreadsheet to store the resources.
- Organize the resources by topic or category.
- Share the collection with other course participants.
Mentor a junior colleague or student on KPI measurement
Show steps
Sharing your knowledge with others can help cement your understanding of KPI measurement while also assisting in the growth of others.
Show steps
- Find a junior colleague or student who is interested in learning about KPI measurement.
- Meet with them regularly to share your knowledge and experience.
- Provide feedback on their work and answer their questions.
- Celebrate their successes and encourage them to continue learning.
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