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Executive teams use KPIs (key performance indicators) to track success. They are used as reports that provide feedback on the past.
But if used properly, they can become a powerful tool to predict changes in the future. The key is in mapping and measuring intervals.
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The mapping process shows how a scorecard of KPIs provides a predictive performance model when viewed as a map.
Ensure you have the KPIs measurement intervals. A measurement interval means the time between readings on a KPI. For example, it may be that the input in the cause-and-effect...
Tracking relationships can release the full predictive ability of KPIs.
The relationship between KPIs should be mapped in a cause-and-effect diagram to understand how one KPI impacts another. It requires as little as a whiteboard and a pen.
Choose an end goal and write it on the right-hand side of the board, e.g. for a company to invest fun...
The end goal for a business is growth. It requires the support of stakeholders with the business owners and investors.
If a business can keep employees happy, it can predict a good relationship with suppliers. Together, the good employee-supplier relationship leads to great outcomes for cus...
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