How to maneuver with KPIs

In a world that is changing faster and faster, it is crucial for your business that you have up-to-date and reliable status information from day to day. Regardless of the situation, you want to know what’s happening so you can maneuver in the right direction. With clearly defined KPIs and a solid data base to help you make informed decisions, you are far better equipped to guide your team and reach key goals.

Business leaders have long used KPIs (key performance indicators) as a valuable tool for implementing strategies.

In recent years, the focus on KPIs has intensified and KPI-tracking is more important than ever before. Many businesses readily admit they are obsessed with KPIs.

The obsession continues to grow as companies capture more data which they can use to improve performance. With the right application, data can be used to guide decision-making, optimize processes and reach goals across all levels and functions of the business.

While there are many factors to consider when implementing KPIs, there are 3 steps in particular that will help you guide your team to success.

1. Set a course

A KPI is a measurable value that helps guide organisations towards their goals.

To function effectively, KPIs must be linked to the company’s strategic goals. These are then broken down at a tactical level (department) and then at an operational level (individual), so that everyone in the company gets ownership of the goals.

Choosing the right KPIs can be tricky. No matter which KPIs you land on, do not measure too many KPIs just because you can. When there are too many figures to keep track of, goal management becomes too complicated. Each department should only deal with a handful of carefully selected KPIs.

What are KPIs for marketing, sales, finance, customer success and more? See KPI Examples.

2. Navigate

In order to navigate with KPIs, data must be presented in a way that is easy to understand and access. This is done with the help of KPI dashboards.

KPI dashboards use data visualisations to help you continuously evaluate performance and make necessary changes. Easy to understand graphs and charts help you assess what’s happening and what you can do to improve.

By using KPIs effectively you will be able to answer questions such as:

  • What is the  current performance level (status)?
  • How close the company, team, department or individuals  to their target (actual versus target)?
  • How is performance changing over the past days, weeks, months (trend)?
  • How is our performance compared to  to internal or external standard (benchmark)?
  • What an we do even better (segment analysis)?

With these answers on hand, it’s easier to anticipate and adapt to changing conditions.

Visualise KPIs on a dashboard

Picture: Individual, regional and overall goals compared to progress on a KPI dashboard.

3. Implement and follow-up

It is essential your organisation has a common understanding of goals and what you are trying to acheive. Many strategies fail because goals were communicated once, but not continually reinforced. Leaders must gain and maintain commitment by ensuring their teams understand what they are trying to acheive and why they are focusing on exactly these measurements.

Once teams are committed, KPIs are the basis for coaching, acting and motivating the organisation. Every step towards reach targets is an accomplishment which should be recognized.

The real value of working with KPIs is realised when KPIs are used consistently and regularly in leader meetings, team updates, and one-to-one meetings. If all indicators are pointing in one direction, it doesn’t help if no one follows them up.

Final word—Make it simple.

Many organisations struggle with the complexity and diversity of their company’s data. Data specialists, sales operations, department managers and upper management can spend a lot of time gathering data and charting KPIs.

Businesses should set up modern systems to organize KPI-data without manual routines. The majority of businesses have more than enough data in their current databases.

An effective business intelligence tool will gather performance data, organize it into meaninful information, and help you motivate your team towards successful goal acheivement.[o

Additional resources: Visit the KPI Gallery to see best practice examples of how to visualize KPIs for sales, service, finance and more

Automate your KPI-tracking and get data-driven insights

Let us take you take you on a tour of KPI dashboards in action. You’ll get practical ideas on how data can help you boost performance.

Einar Gynnild, CEO/Daglig leder

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    Business Analyze Webinar

    Webinar Recording: Practical use of Business Analyze

    Thanks to everyone who participated in our recent customer success webinar -‘Practical use of Business Analyze.’

    We hope you found it helpful.

    To view the Norwegian recording

    To view the English version

    The agenda included a review of dashboard, analytics and KPI-tracking functions.

    We looked at setting targets, filtering data, sorting and grouping data – and much more.

    Webinar host, Ann Kristin Søraa, also showed how these functions work together to help sales teams:

    • manage the sales pipeline
    • track revenues, budgets and forecasts
    • monitor orders and invoices
    • see live sales commissions reports

    She also showed examples dashboards for:

    • Leads/campaign performance
    • Customer support metrics
    • Customers satisfaction scores/NPS
    • Customer success

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      Business Analyze support for Google Analytics

      Now you can add Google Analytics data to Business Analyze and use these two powerful tools together.

      Connect data, create reports and  share insights – all from Business Analyze.

      Track web traffic and other key business metrics – in one place

      This new capability makes it easier to access web metrics together with other business metrics – from the conveniences of Business Analyze interface.

      Senior leaders, managers and other non-marketers can access specific, meaningful web insights without needing to login to Google Analytic accounts or navigate to separate analytic tools.

      Share web metrics to office TV screens and build engagement

      Web insights can be shared via Business Analyze to office TV monitor, desktops and mobile devices. The more people are aware of web traffic and behavior, the better they can use this information in their daily work.

      More than 30 dimensions and metrics available

      Business Analyze makes Google Analytics data available through the Core Reporting API.  Business Analyze developers, designers and consultants can build custom reports on the following dimensions:

      • Users
      • Session
      • Traffic Sources
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      • Goal Conversions
      • Platform or Device
      • Geo Network
      • System
      • Page Tracking
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      • DoubleClick Bid Manager
      • DoubleClick Search


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        KPI Examples

        This page includes a selection of KPIs and metrics you can track with Business Analyze.

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          Business Intelligence on mobile device

          Business Analyze Mobile App now updated on Google Play and App Store

          The latest version of Business Analyze mobile app is now available for download on Google Play and App Store.

          This release is an update to the existing iOS and Android apps and includes support for 7 new data visualizations.

          See also: Full release notes including bug fixes and improvements.

          Why this Business Intelligence app?

          Business Analyze mobile app provides instant visibility into company-wide KPIs and metrics from the convenience of a mobile device.

          This helps business leaders and managers make decisions and drive performance using the latest intelligence available.

          With data, insights and KPI-tracking available from convenience of a mobile device, it’s easier to:

          • communicate clear, measurable targets and objectives
          • easily keep up with status
          • gain insight and guide your teams
          • proactively follow-up

          KPIs and metrics can be related to sales, revenues, activities, finances, operations, customer experience or other areas that matter most to users.

          Rather than having to check in-boxes or rely on others, users can check the app for the latest insights.

          The app includes features to help users respond faster and more proactively when new data is available. For example, you can can send, read, reply and follow up discussions about events.

          How to get it

          All you need is a Business Analyze account to download it and get access to your business data and key metrics.

          If you don’t have an account yet, contact us and we’ll set up  a free demo for you.

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