KPIs and Benchmarking

In data analytics and Business Intelligence, KPIs (Key Performance Indicators) are critical internal, quantifiable metrics that are used to track progress toward specific business goals.

They offer keen insights into your operational efficiencies and financial performance.

KPI metrics are a snapshot in time, measuring your current status against your end goals. Benchmarking will highlight how your company is measuring up against industry, market, competitor or peer, and other standards you determine are appropriate.

KPIs should align with your business goals and long-term ambitions.

They are typically universally applicable but may also be industry specific. For example, manufacturers focus on inventory status while service businesses focus on revenue per employee.

Key Performance Indicators and benchmarking are essential for transforming your unique Profit and Loss (P&L) model from a historical report into an accountable forward-expecting strategic tool.

Amlin Analytics can help you evaluate the most appropriate KPIs and benchmarks to monitor and achieve, based on the specifics of your short and long-term business goals. We then incorporate them into your dashboards and reports.

Our process includes:

• Defining Your Goals – Outlining your business objectives to select the most relevant KPIs for unique situation

• Selecting the Relevant Metrics – Determining the right KPIs, and how they directly impact your P&L structure

• Ensuring Metrics Alignment – Accounting for their adherence to a SMART model of Specific, Measurable, Achievable, Relevant and Time-Bound

• Gathering Data – Collecting internal historical data to establish a performance baseline

• Sourcing Benchmarks – Comparing your internal data against industry standards

• Analyzing and Strategizing the Correct Targets – Leveraging any insights gained to identify improvement areas and create a futures roadmap

• Active Tracking – Ongoing monitoring at consistent intervals to ensure a rapid response to any performance shifts