How to Identify Business KPIs | Intellipaat #Shorts
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Get ready to explore the world of Digital Marketing with our Intellipaat Podcast episode focusing on How To Make a Career in Digital Marketing.
In this video, our esteemed guest, Mr. Vishal Dhanuka, Digital Marketing Manager at JustAnswer will help us understand the concept of How to Identify Business KPIs. He also explains How KPIs helps KPIs help businesses measure their efficiency and performance.
✅How do you identify KPIs?
Step 1: Structure your KPIs based on measures that contribute directly to your organization's annual objectives.
Step 2: Evaluate the quality of your new KPIs.
Step 3: Assign ownership for each KPI to specific individuals in the organization.
Step 4: Monitor and report on the KPIs regularly and transparently.
✅How is KPI measured in business?
Key performance indicators (KPIs) measure a company's success vs. a set of targets, objectives, or industry peers. KPIs can be financial, including net profit (or the bottom line, gross profit margin), revenues minus certain expenses, or the current ratio (liquidity and cash availability).
✅What is the best way to measure KPIs?
To measure and monitor your KPIs, you should first define your objectives, strategies, and actions to achieve your KPIs. Then, implement your plan and collect data and feedback. Afterward, analyze the data and results to compare them with your KPIs and expectations.