Types Of Kpi Indicators

What is Types Of Kpi Indicators? The below diagram explains Types Of Kpi Indicators. This chart shows an important concept or a framework to help one run their business, improve company's strategy, internal processs, enhance project management, technology, and client experience.

Types Of Kpi Indicators

Key Performance Indicators (KPIs) are quantifiable goals that measure the scope or potential of a company’s success or attainable business objectives. They can help indicate which components of your business are the most beneficial to its progress, which ones can help optimize its performance, or which areas of your company may need work. There are various types of KPIs that can help measure the performance or progress of your business. Some of the most common types of KPIs include:

1. Quantitative indicators: These are represented by continuous or discrete numbers, which can be ratios, percentages, or whole numbers that represent values like rating scales, dollars, or weight. These indicators are the most straightforward quantifiable measures of performance, as they present direct numerical values.

2. Qualitative indicators: These indicators are not expressed numerically but through feelings or opinions. An employee satisfaction survey can be an example of qualitative data where performance is based on feedback.

3. Leading indicators: These are variables that can help identify long-term trends and possibly predict successful future outcomes of your business processes.

4. Lagging indicators: These compare a business’ current performance in a particular field with their past performance in the same field.

5. Input indicators: These track the resources necessary to produce the intended outcome, such as funding or extra staff. Input indicators can help companies keep track of how efficiently they are using their resources.

6. Output indicators: These measure the success or failure of your business activities, like the number of goods or services created through a particular process. Revenue growth and new customer acquisition also indicate how well your business is performing.

7. Process indicators: These represent the efficiency of a business’s process and how effectively it is functioning.

8. Practical indicators: These explore the function of an existing process at a company, usually involving observation or feedback on that process.

9. Directional indicators: These help determine the company’s success in comparison with competitors, while practical indicators are specific to the company’s process within itself.

10. Financial Metrics and KPIs: These are tied to the financials typically focus on revenue and profit.

11. Customer Experience Metrics and K