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KPI dashboard software enables businesses to turn data into analytics and insights. The software allows organisations to enter their data into one specially designed system, or connect external services for faster and more accurate data collection.
This type of software allows businesses to visualize and comprehend data from a number of KPIs that represent different areas of a business, all in one place. Companies benefit from faster and more accurate data collection, instant reports on performance, and alerts when a key performance indicator is over or under achieving. KPI dashboard software centralizes businesses data, while simplifying real-time reporting to always give them a competitive edge. When writing or developing a KPI, you need to consider how that key performance indicator relates to a specific business outcome or objective.
Key performance indicators need to be customized to your business situation, and should be developed to help you achieve your goals. Follow these steps when writing one:. Measuring and monitoring business performance is critical, but focusing on the wrong key performance indicators can be detrimental.
So can be poorly structured one, or ones that are too difficult, costly to obtain, or to monitor on a regular basis. There are six factors that separate effective, value creating key performance indicators from detrimental, value diminishing ones. Follow these six best practices:. Learn more about KPI best practices. Examples of KRAs for project managers include the following:.
Examples of KRAs for marketing managers include the following:. Examples of KRAs for human resources managers include the following:. Examples of KRAs for finance managers include the following:. Examples of KRAs for information technology IT managers and system administrators include the following:. Examples of KRAs for executive assistants include the following:.
Examples of KRAs for teachers include the following:. Examples of KRAs for high schools or colleges include the following:. Examples of KRAs for customer service representatives include the following:. Examples of KRAs for procurement managers include the following:. Examples of KRAs for operations managers include the following:.
Examples of KRAs for business analysts include the following:. Examples of KRAs for legal department include the following:. Examples of KRAs for payroll managers include the following:. Examples of KRAs for nurses include the following:.
Key Result Areas for leaders of an organization will often focus on strategic goals for the company as a whole. They are likely to include the following:. When developed and written well, Key Result Areas focus your organization and help drive its success. Broader organizational KRAs include the following:. Most components of organizational success can be distilled into and written down as an organizational goal through a KRA that is clear and measurable. Still, some components can be more difficult, and harder to measure.
Employee happiness, for instance, is an important part of organizational success. For instance, a KRA could measure employee happiness through the following:. But, you want to monitor often enough that you can see trends and make corrections in a reasonable timeframe. While much of your tracking will be of your own internal numbers, it can also be helpful to benchmark your organization against competing organizations or industry averages, when those numbers are available.
You must take steps to improve your operations, or your own individual performance, based on your results. Then, take steps to move those numbers in a direction that will help make your organization more efficient and successful.
For individual employees, after they and their bosses determine and assess their performance on their KRAs, they must do the following:. The term Objectives and Key Results OKR is a management framework and strategy that establishes a clearly defined objective that will help the organization progress or improve operations. The organization then sets down key results — similar to KPIs — that are specific measures that can track whether the organization is making progress towards its objective.
Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed.
Try Smartsheet for free, today. Get a Free Smartsheet Demo. In This Article. What Are Key Result Areas? See how Smartsheet can help you be more effective. The Most Important Qualities of Key Result Areas Key Result Areas will of course differ widely, depending on the role of an employee or the specific goals of a department or an organization. KRA Individual Template. Here are some basic steps to help you get started: Set aside some time to evaluate how you are currently spending time in your job.
Write down what you are doing daily or weekly. Ask yourself: Why was I hired? What am I supposed to accomplish? What are tasks that only I can do to produce positive results for my organization? What makes my position essential to the success of the company?
Specify how the KPI will be used so that everyone is clear about how you plan to use the information. Also define how the KPI will not be used. Sometimes, people are scared to report on measures because they fear negative results could be used against them. Example: The indicator will be used to assess and report on our customer success internally. Every KPI needs a name so that you can discuss it collectively.
Choose a name that clearly explains what the indicator is about. Data collection methods can include surveys, questionnaires, interviews, sensor data collection, focus groups, automated machine data collection as well as collection of archival data. Describe how performance levels will be determined. This can be qualitative, in which case the assessment criteria need to be identified, or it can be numerical or using a scale, in which case the formula or scales with categories need to be identified.
Example:Using a scale Not at all likely to extremely likely participants will answer: How likely are you to recommend us to a friend? Define a target or benchmark for each indicator. Here you can also outline the performance thresholds, that is, when performance levels are judged to be good or bad.
Your KPI template should specify where the data is coming from so that people using the KPI can be assured of its reliability and validity. State how often the data for the KPI will be collected and coordinate the collection dates accordingly.
Some KPIs require data to be collected continuously.
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