📌 KPI Tracking Summary
KPI tracking is the process of measuring and monitoring key performance indicators to see how well a business, team, or project is doing. It involves collecting data on specific metrics that are important for success, and regularly checking progress against set goals. This helps organisations identify what is working well and what needs improvement, making it easier to make informed decisions.
🙋🏻♂️ Explain KPI Tracking Simply
Imagine a sports team keeping score during a match so they know if they are winning or need to try harder. KPI tracking works the same way for businesses, showing if they are meeting their important goals. It helps everyone stay focused and know whether their efforts are making a difference.
📅 How Can it be used?
KPI tracking can help a project manager monitor deadlines, budget use, and team progress to ensure project success.
🗺️ Real World Examples
A retail company uses KPI tracking to monitor daily sales, customer satisfaction scores, and inventory turnover. By reviewing these metrics, the manager can quickly spot if sales drop or if stock is running low, allowing them to take action before problems grow.
A marketing team uses KPI tracking to measure website traffic, social media engagement, and the number of new leads generated each month. This helps them see which campaigns are most effective and adjust their strategies for better results.
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