Defining your KPIs - Step by step template

Unlocking Business Success with KPIs: A Guide to Effective Tracking

Running a business without KPIs (Key Performance Indicators) is like sailing a ship with your eyes closed—you don’t know if you’re moving in the right direction, and the chances of safely reaching your destination are slim. Effectively defined, tracked and managed KPIs provide a clear view of how well your business is progressing toward its goals, indicating where you’re cruising smoothly, where you might be drifting off course, and what adjustments are needed to stay on track.

KPIs are measurable values that help businesses evaluate their success in achieving key objectives. These metrics can span a wide range of areas, including financial performance, customer satisfaction, employee engagement, and operational efficiency. KPIs act as a North Star, guiding your business toward its goals by offering a clear picture of what’s working and where improvement is needed. At Herdatastudio, we recommend our clients to follow our DTR framework - Define, Track and Review framework: 

1. Define your KPIs
2. Track and automate
3. Review continuously and adjust

The first step is to define your KPIs. Here's our KPI Setting Template to help you get started.