People are always looking for ways to be more successful. Tracking your results is the worst way to figure that out. Values such as Revenue or Profit only tell you HOW you did but not WHY. Unfortunately, many are too blinded by their results to figure out what they should be doing.
KPI Karta is a new service that's unlike anything else on the market. Blogs from us will focus on the importance of measuring and tracking activities and actions necessary for success. That means we'll drill into the detail of work to be done, not focus on high level goals such as Revenue and Profit.
Our mission is the help clients "visualize decision making". What the heck does that mean!? Simply put, we want to use modern technology to show graphically what is going on in a company; how decisions of what to do are made, what's critical to monitor, what can be ignored, and to map that out so you can see how things are progressing. And critically, so you can see where failures are taking place, allowing you to take corrective action before it gets out of hand.
We have for the past six years worked with clients to create more effective KPIs. We seem to always call them KPIs but they are also known as performance metrics, business indicators, and performance ratios and many derivatives of those. It really doesn't matter what you call them but just don't call them Measures!
Measures are found in reports. By definition, they are raw numbers and data points found in reports, in corporate databases, call centers and other data silos. They are not actionable! You can't look at a measure such as 50 leads and know how you are performing. Instead, it has to be put in context. For example, 50 leads may represent a 5% increase over last week. That 5% increase tells us something about performance, so that's what we need to track.
Much of our work with clients has been frustrating. All too often, it was difficult to move them away from the way things had always been done; to get them to break the habit of monitoring top-10 lists (such as products, customers, keywords, product failures, etc.), web pages, and other useless noise!
As a result of our effort to help clients figure out what KPIs to track, we came up with a methodology or formula which we have called the KPI Karta (karta is the Swedish word for map). We really help clients map out what actions and activities they should be tracking and we align that with corporate goals. That provides a visualization of how those metrics were conceived, what they are, and how they influence the goals we are trying to achieve. Once they realized the value of tracking the actions that cause performance, they could begin to answer the question of WHY things were performing the way they were.
So, once they got it they really got it! They became rabid enthusiasts! That's why we decided to create the hosted service to mimic what we had delivered in workshops and so our offering was born. And this blog is our inaugural entry. Blog entries from KPI Karta will focus on business measurement ideas, successful tactics and examples, what we've learned and heard and how to apply them to everyday work. We'll try to keep it non-salesy, but we're pretty excited about what we have created so we may sprinkle in use-cases of the benefits of using a KPI visualization tool like KPI Karta.
What is your experience with KPIs? What are you frustrations or successes?