As it is said, “Success is not in reaching the destination, but in making the journey”.
To make the journey easy and successful to reach the final destination, it is very important to track and measure it time to time, this can be done through right Key Performance Indicators at place. “Key Performance Indicators” acts as instrument to measure the performance, which helps an individual and organization to know whether the company is going towards its stated objectives or not. Often people fail to understand the importance of having KPIs in place, KPIs helps to measure the most strategic decisions that any organization requires to.
KPI acts as a compass for a road trip:
If a group of friends decide to go on a road trip, it is important to navigate the final destination by proper planning and direction with the help of indicators like compass, GPS location, & maps which will allow them to understand whether they are on a right way or not & help them take decisions accordingly. If the trip is not planned & directed properly by preparing KPIs then it can lead to unplanned destination which will lead to wastage of time, resources & money, so it is important to create KPIs.
Similarly, companies use KPI to measure their performance& know whether they are on a successful tour or not. The right set of KPIs acts as street lights for a safe road trip. In this VUCA world & competitive business era it is very much important to make better decisions, measure performance timely &give instant feedback to improve which in turn will help achieve the overall goals of the organizations through right set of KPIs. To be an organization from low performing to high performing, SMART KPIs are of strategic importance.
