KPI or TMI: Are you drowning in meaningless metrics?
Every business leader today understands how important it is to have strategic KPI metrics that measure against objectives and goals. And over the years, industry-standard frameworks like the SMARTER criteria and the Balanced Scorecard Strategy have helped leaders and teams guide KPI development. Today, the vast majority of enterprises rely on KPIs to track progress and guide decisions.
But now that businesses have access to massive quantities of data, there’s a new problem: KPI overload. It’s easier than ever to fall into the trap of measurement for measurement’s sake. Managers everywhere are learning the hard way that just because they can measure something doesn’t mean that they should. The bottom line is, tracking and reporting KPIs takes work – and if your KPIs aren’t leading to better results, they’re not serving your business.
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