A KPI or Key Performance Indicator is a measurement that evaluates the performance of a business activity. It measures the success of a company at reaching its operational and strategic goals on different performance aspects. KPIs can be high-level, monitoring the global performance of a business, or more low-level, focusing on processes‘ or individual’s performance.
No matter which department you are in, KPIs are vital to grasp the status of your business to make the right calls. How can you tell which KPIs are relevant? Which are going to help you and which will cause distraction?
KPIs help managers gauge the effectiveness of their functions, processes, campaigns and actions. They are essential to ensure you are on track to reach organizational goals. Make informed decisions with datapine. We help you cut through the noise and see the actionable data you need. Control the act of accessing, visualizing and reporting data with our first-class interface. Monitor your most significant KPIs in one place, obtain a comprehensive overview of your business and make more informed decisions.
It isn’t always easy to find the right performance indicators that will fit your department or activity. The objective is always to determine those that communicate progress in the most meaningful way. We have identified the KPI examples that are most relevant for each department, specific industry or platform. Take advantage of our metric library and KPI templates to identify and visualize the metrics that are most important to your area of business. Below you will find the links to over 300 visual KPI examples and templates with recommendations for action and relevant showcase dashboards.
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Tracking the right KPIs is a huge step forward for any company - but why stop there? With datapine, identifying is just the first step. Explore, visualize and efficiently communicate your insights across your company and induce more informed decisions enterprise-wide.
Once you have set up the right KPIs, datapine provides you a comfortable, clean interface to keep an eye on them. Our dashboard software helps you to get rid of the time consuming process of constantly having to log into databases, cross-referencing information and pulling out data from third party applications to make sure you are always up to date.
Thanks to modern KPI dashboards your KPIs can be accessed in real-time, from anywhere, at any given time. We make sure that you always have the most relevant figures in front of you, whenever you need them. An enterprise-grade user management combined with several sharing concepts and scheduled automated reports empower everyone in your company to have constant access to relevant KPIs and make more informed decisions.
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Key performance indicators (KPIs) are sets of quantifiable measures that can be used to determine how effectively a company is achieving its key business objectives, thus evaluating its progress or success at reaching strategic and operational goals. Depending on which part of the business you would like to analyze, you have to select different KPIs.
For example, if you want to track the financial performance of your company, you might use the return on equity ratio. If you would like to analyze the performance of sales, you might use the lead conversion ratio. From this example it is obvious that KPIs represent detailed specifications that are used to analyze the objectives of the organization. It is essential to select the right KPI for a previously specified target in order to measure success. Since these indicators measure performance against a specific target, they help a company, department or manager to instantly react to any events that might impact the business. They also help the company to focus on a common goal.
Obviously, there are many types of KPIs, depending on the specific target and the best indicator to measure it. The broadest distinction is to separate the different types into nonfinancial and financial KPIs. The second refers to all indicators that have to do with the cash flow, debt and assets of a company. For example, the profit margin, which measures the net profit in percentage of revenue, or the current ratio, which is the ratio of current assets to current debts. The former refers to all indicators that are not directly related to the cash flow, debt or assets of a company. A more specified distinction of KPI types is the following:
Quantitative vs Qualitative indicators: First can be expressed as a number, second use qualitative measures.
Lagging vs Leading indicators: Former indicate the source of success or failure and leading indicators are used for forecasts.
Input vs Output indicators: First measure the resources consumed for a given output and second the outcome of a process.
Process vs Actionable indicators: The former are used to measure efficiency or productivity of a specific business process and actionable indicators are mainly used by key decision makers of a company to effect change.
Another way is to distinct the different types into departmental indicators, such as indicators for sales (for example sales growth), marketing (for example return on investment) or finances (for example current ratio) like we did in our KPI examples above. To learn more, check out our KPI templates for the different business departments.
There are several ways to classify the different types of indicators. The difference between all types is that they measure different performances, thus being only compatible with a specific target. The essence is to choose the right one, which measures the performance or success of your specific target the best. Thus, you have to know exactly what would like to measure.
After you’ve successfully identified the right KPIs for your business, it’s time to start the analysis process and generate actionable insights. Keep in mind that the value of the KPI analysis depends on the quality of the data as well as the skills of the analyst who is diving into the performance mix. Here we present some tips that can help in the process:
Create an interactive dashboard: Business dashboards are extremely useful when analyzing KPIs since they enable you to visualize and interact with each KPI through powerful filters and features that traditional analysis lack. During analysis, ask specific questions and dig deeper into the data; for example, if your dashboard visualizes a map with the best-performing countries or regions, you can simply click to zoom and additional data is displayed such as which cities, timeframes or teams are responsible for success. That way, you incorporate additional findings that you can use for your future strategy development.
Compare different periods: Showing the development or decline in a certain performance indicator is a simple step to identify if the bigger picture is improving or you need additional adjustments. Connecting to this point, comparing different periods will also tell you how your performance has changed and you can easily identify which actions have caused changes. For example, if you see that the number of sales contracts have declined in the past 3 months comparing to the same period last year, you can examine if external factors have caused it (such as a pandemic) or internal ones (your sales team is reduced and you don’t have enough resources to fill the voids).
Incorporate intelligent alarms: Data alerts using modern technologies such as machine learning and artificial intelligence, KPI analysis has evolved from manual calculations into advanced algorithms that automatically notify the user when a KPI anomaly occurs. Predicting the next expected value of a data series is a feature of pattern recognition alerts that helps in achieving more accurate predictions while the threshold alerts will activate as soon as the targets exceed or falls behind the pre-defined value. The intelligence behind these modern technologies will enable you to identify trends in your analysis, spot opportunities much faster, and eliminate tedious tasks of manual work.
Don’t focus just on the numbers: Numbers and software are the tools that will help you in increasing your productivity levels, saving precious time, and ensuring your data is up-to-date and visualized for easier comprehension. But numbers are not humans, and you always need to keep in mind what kind of effect will your analysis cause on the human level. For example, if your amount of leads is decreasing, you need to get yourself into your customers’ and teams’ shoes to identify why, not just blindly follow goals and objectives. If you see issues in your strategies, oftentimes you need to adjust your approach, step away from the computer, and look beyond numbers.
KPI analysis is designed to improve processes, ease the repetitive work with the help of modern KPI software, and stimulate a more efficient working environment. To help you even more, we have gathered the best practices that will stir your success and ensure sustainable development across the board.
To choose the right indicator for your specific target can be very difficult. But there are two main KPI best practices, which help you to find the right one. A way to evaluate the relevance of a KPI is to use the SMARTER criteria (Specific, Measurable, Attainable, Relevant, Time-bound, Evaluate, Reevaluate). The long version of SMARTER means a specific objective, the measurability of the progress towards that goal, the realistic attainability of the target, the relevance of the target to your company, the time-frame for achieving the target and the continuous evaluation and reevaluation of the KPI.
The second KPI best practice is the six A´s (Aligned, Attainable, Acute, Accurate, Actionable, Alive). The six A´s mean that the indicators are aligned with your specific targets, the data, which are used for the indicators, can be easily attained, the indicators keep everyone informed (acute) about the current situation, the data used to obtain the KPIs are accurate, the insights in the business given by the indicator is actionable and the indicator should evolve with the business (alive).
Find hereafter a list of KPI examples specifically created to answer the needs of each department. All of them are compiled and visualized on professional KPI report templates that illustrate the data story every business possesses! Please click on the link of the specific department to learn more about the mentioned KPIs.
Management: Management KPIs give a strategic overview to top-managers and the C-level suite of the performance of certain parts of the business, so as to make data-driven decisions as soon as needed. Below you can find our top 8 KPI examples for the management:
Finance: Financial KPIs track the performance of a business in its cash management, expenses, sales and profits. They help stay in track with initial financial objectives. Below you can find our top 18 KPI examples for the finance department:
Sales: Sales KPIs provide you with insights on your sales process and representatives. Tracking the pipeline health, lead generation, general activity and productivity, they are essential to drive sales forward. Below you can find our top 17 KPI examples for the sales department:
Marketing: Marketing KPIs help you track your web performance in general and all the online campaigns you launch. They are important to give the big picture of all your online activities and determine an accurate marketing ROI. Below you can find our top 16 KPI examples for the marketing department:
Human Resources: HR KPIs are essential to a functional human resources department that aims at improving its recruitment processes, workplace well-being as well as monitoring overall employee performance. Below you can find our top 15 KPI examples for the human resources department:
Service & Support: Customer service KPIs are helpful to get a holistic view of your support department, agents, as well as a 360-degree customer view. They are crucial in the process of increasing customer satisfaction. Below you can find our top 14 KPI examples for customer service teams:
Procurement: Procurement KPIs help in the management of the procurement department as a whole, leading to more sustainable and improving processes. They regulate costs, savings, purchases, etc. Below you can find our top 15 KPI examples for the procurement department:
IT: IT KPIs maintain all the IT projects on track with their deliverables. Managing the constant flow of tickets and issues while keeping track of IT costs is the cornerstone of a well-functioning department. Below you can find our top 15 KPI examples for the IT department:
Likewise, you can find hereafter a list of KPI templates designed to answer the needs of different industries. They are also all gathered and visualized on business dashboards. Please click on the link of the specific industry to learn more about the mentioned KPIs.
Healthcare: Healthcare KPIs gather hospital and patient analytics to improve the facility management, the patient satisfaction levels as well as the staffing needs. It helps healthcare professional run their hospital better. Below you can find our top 15 KPI examples for the healthcare industry.
Logistics: Logistics KPIs inform you on transportation processes, warehouse operations, supply chain management and other aspects involved in the optimization of all the logistics operations. Below you can find our top 9 KPI templates for the logistics industry:
Manufacturing: Manufacturing KPIs are a good asset when a business wants to optimize its production quality and manage the incurred costs efficiently. Below you can find our top 16 KPI templates for the manufacturing industry:
Retail: In such a fast-moving industry, retail KPIs are crucial to any business who wants to identify and understand customer trends, enhance its stock management, lower the returns and ultimately increase sales profits. Below you can find our top 16 KPI templates for the retail industry:
Digital Media: Digital Media KPIs help online publishers assess their presence and the content they share. They are a big advantage to spot trends as they arise and answer their readers‘ expectations in a more customized way. Below you can find our top 9 KPI templates for the digital media industry:
FMCG: Fast-moving consumer goods KPIs are particular in the way that they are transversal and touch several departments, from procurement to supply chain so as to optimize any strategy to meet financial goals and product quality. Below you can find our top 10 KPI examples for the FMCG industry.
Energy: Energy KPIs help suppliers understand and manage fast-changing market demands, optimize production costs and analyze consumption patterns. That enables them to maximize profitability in the long-run. Below you can find our top 8 KPI examples for the energy industry.
Market Research: Market Research KPIs let you analyze and visualize your research results in a meaningful way, so as to present your studies to top management or clients effectively. Below you can find our top 10 KPI examples for the market research industry.
Hereafter, you can find a list of KPI examples created to provide a solution for different platforms. They are compiled into a visual representation of the most important indicators of a successful data-story. Click on the link of the specific platform to learn what it can do for you and your business!
Facebook: Facebook KPIs gather content and advertising analytics to help social media professionals to optimize and maximize their social media strategy operations and results. Below you can find our top 10 KPI templates for Facebook:
LinkedIn: LinkedIn KPIs let you analyze and identify the performance of a company or individual page profile, to determine the best possible combination of posting content, reaching to other professionals, and creating business opportunities. Below you can find our top 9 KPI examples for the LinkedIn network:
Twitter: Twitter KPIs inform you of the results of your set targets and indicate which performance is on track, and which needs to be optimized, leading to a sustainable social media strategy and operation. Below you can find our top 10 Twitter KPI examples for this social media platform:
YouTube: YouTube KPIs are crucial for the serious video story-teller, aiming to increase engagement, views, subscribers and overall performance of this channel. Below you can find our top 9 KPI examples for the YouTube platform:
Google Analytics: Google Analytics KPIs enable website operators to objectively monitor, analyze and optimize user behaviors on a sustainable level across the entire website. These are our top 14 KPIs for Google Analytics:
Google AdWords: Google AdWords KPIs primarily focus on the monitoring, visualization, analysis and optimization of any kind of Google Search Engine Advertising (SEA) campaigns. These are our top 11 indicators for Google AdWords:
Salesforce: Salesforce KPIs help salespeople effectively manage all relevant, strategic and ongoing processes of their customer liaisons through Customer Relationship Management (CRM). These are our top 12 KPIs for Salesforce:
Zendesk: Zendesk KPIs enable companies to objectively monitor the quality of customer service and support while optimizing all relevant customer interactions in an effective, data-driven way. These are our top 10 metrics for Zendesk:
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