1.30 Choose and Monitor Your KPIs Wisely!

In the contemporary business world, the importance of data, and metrics, is well-understood.  

Companies typically designate certain metrics as Key Performance Indicators, or KPIs, treating them as reporting and accounting mechanisms, as well as strategic decision drivers.  These might include production metrics (how many units did we move off of our assembly lines this month?), business development metrics (how many prospective clients did we connect with via telephone this month?), performance metrics (how many shows did we perform this month?), or internal quality metrics (how many employees did we certify on some new technology this month?)  

Once we move beyond the platitudes, however, the truly tough questions come into play.  What should we measure?  How should we do it?  How often should we review these KPIs?