Bernard Marr, recognized by LinkedIn as one of the top five business influencers in the world, discusses the top 10 mistakes companies make regarding KPIs.
According to Bernard, KPIs should be the key source of information as to how a business is delivering its strategy.
Here are the 10 KPI mistakes Bernard covers in his video presentation.
- KPIs are not linked to strategy
- Strategy has to be the starting point
- Executive teams are not involved
- Executive ownership is critical
- Measuring everything that is easy to measure
- Measure instead what focuses on delivering value
- Measuring too much leading to dashboards full of indicators
- Instead distill information down to the critical ones needed
- Failure to separate the right metrics
- Strategic vs. operational
- Treating external metrics as KPIs
- Are they really linked to your strategy?
- Turning KPIs into targets
- KPIs should be information sources that drive the right decisions
- Not analyzing the data
- Don’t just dump the data into reports and dashboards
- Not updating KPIs
- If goals shift, so should your KPIs
- Are you getting the information you need to make decisions?
- Not acting on the KPIs
- Failure to act will severely impact strategy