What is a KPI Report & Everything You Need to Know About KPI Reporting
If you are looking to answer questions such as how your team is performing or your company for that matter and want to do so quickly and accurately you need to be asking yourself another question first.
That is what is a KPI report?
And while KPI reporting is fairly common, let’s go back to the basics and remember what is a KPI report and understand how to create a KPI report so that your business can use the data to improve and reach its goals.
What are KPIs?
Before we can move on to properly understanding what is a KPI report, it is important to first know what a KPI actually is.
A KPI, or Key Performance Indicator to use its full name, is a standard assessment that illustrates just how effective your sales force is at accomplishing key business goals .
KPIs also provide helpful insights to assist salespeople to enhance their productivity by monitoring their performance on a regular basis.
While your objective may be wide, your KPI will always be a specific, precise, measurable number.
This cannot be any random number. The “key” portion of the “key performance indicator” means that the number has to be a significant representation of performance.
Therefore, it can be seen that there are two main components to the definition of a key performance indicator:
What is a KPI Report?
Now let’s move on to understanding what is a KPI report. A Key Performance Indicator report is a report that enables business executives to simply and quickly analyze and evaluate KPIs or Key Performance Indicators which allows them to see how their company is performing in relation to certain strategic goals.
KPI reports nowadays employ interactive data visualization with any underlying data easily accessible through a single click to offer executives the option to further investigate.
This allows all individuals, even those who are non-technical users, to be able to observe patterns, detect correlations, and find outliers in their data using the report.
This in turn allows for revelations that lead to actions and ultimately improve company outcomes.
Therefore, when you consider what is a KPI report you can think of a report that aids organizations and companies to be able to extract more value from their data, develop data literacy, and foster a data-driven decision-making culture.
