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Key Performance Indicators (KPIs)

Performance metrics beyond traditional financial and historical measures are used to address the issue of performance improvement. The first approach is to identify Key Performance Indicators or KPI metrics that are aligned with the corporate strategy and typically measure progress toward achieving strategic goals.

KPI metrics are useful for ensuring strategic alignment across the various organizations within the company and illustrate whether strategic goals are achieved. A KPI dashboard can be particularly helpful in viewing these goals.

Using Key Performance Indicators or KPI metrics tied to strategic outcomes is not sufficient for optimizing performance. These are lagging indicators and only tell us whether we met goals historically. To positively affect those outcomes, actionable Key Performance Drivers (KPD metrics) must be frequently monitored and analyzed to support sound operational decisions.