The old adage of “you can’t manage what you can’t measure” is never more true than when establishing or refining any management system.
When establishing or refining business intelligence or monthly reports, most organisations turn to key performance indicators (KPIs) that are applicable to their business. At the same time, defining and establishing the “right” KPIs for an organisation can be a significant challenge. But what if most of the hard work has already been done for us? What if there was a pool of industry accepted, best practice measures that we could identify and apply to our own organisations?
Well, like most good sources of information, it is just a matter of identifying that they exist and where to find them.
Take a look at the KPI Library. It is a free source (registration required) of business measures that are categorised by industry to help identify those KPIs that are most important to your organisation. Along with each KPI there is a description to help identify its use and assist in searching through the many (1000+) different KPIs that are listed on this site.
I highly recommend this to anyone who is going through the process of refining or establishing their business reports and measures.