KPIs for Businesses – Definition incl. Complete 200+ KPI List for every Department

Understanding the meaning of KPIs incl. a list of over 200 KPIs for every department

We explain KPIs, incl. differences, and share a list of over 200+ KPIs for every department and occasion. Measuring the right Performance Indicators can help you better manage your company, and using KPIs is the basis for data-driven decision-making.

What are KPIs? KPI stands for “Key Performance Indicator.” It is a metric or statistic that you track to measure the progress of your business. A KPI can be anything from customer satisfaction rates to website traffic. In this blog post, we will discuss the meaning of KPIs, the different types of KPIs, and some examples of how to track them.

What is a KPI?

A Key Performance Indicator (KPI) is a metric used to measure an organization’s or individual’s progress or success concerning a specific goal. KPIs can measure any aspect of an organization or individual, such as revenue, profit, customer satisfaction, employee satisfaction, etc.

Businesses often use KPIs to make data-driven decisions. By tracking KPIs, companies can see what is working and needs improvement. Any business’s strategy to manage, track, and use KPIs is essential. Without one, making informed decisions about the company’s future can be challenging.

There are several different ways to track KPIs. Some businesses use software applications (e.g., Salesforce, Google Analytics, Tableau) to collect and track data automatically. Others prefer manual methods, such as Excel spreadsheets or paper-based reporting. Collecting and analyzing your data is not essential as long as you follow the suitable KPIs and use them to make data-driven management decisions.

What are the different types of KPIs?

There are different types of KPIs: Quantitative vs. Qualitative, Strategic vs. Operational, Input vs. Output, Lagging vs. Leading, and Process vs. Actionable.

Quantitative KPIs are numerical and focus on the results of a process. They usually measure financial or statistical performance indicators. Qualitative KPIs are descriptive and focus on the quality of a process. They typically measure customer satisfaction or employee engagement levels.

Strategic KPIs are important for understanding the overall direction of a business. They help to track progress toward long-term goals and objectives. Operational KPIs are useful for monitoring the day-to-day activities of a company. They help to ensure that critical processes are running smoothly.

Input KPIs track the resources that are used to produce outputs. This includes things like labor costs, raw materials, and energy consumption. Output KPIs track the final results of a process. This includes sales revenue, product shipments, and customer satisfaction levels.

Lagging KPIs are used to measure performance after an event has occurred. This includes things like sales revenue and profit margins. Leading KPIs are used to measure performance before an event has occurred. This includes things like product development times and customer acquisition costs.

Process KPIs track the individual steps in a process. This includes things like cycle time and percent of defective products. Actionable KPIs provide insights that can be used to improve a process. An example can be the average processing time and throughput rate.

KPIs are a valuable tool for measuring and managing business performance. However, it is vital to select suitable KPIs for your business. The wrong KPIs can lead to poor decision-making and sub-optimal results.

Selecting the right KPIs

When selecting KPIs, you should consider the following:

  • What is essential to track in your business?
  • What are your goals and objectives?
  • What data do you have available?
  • How often do you need to measure performance?
  • Who will be using the KPIs?

These questions will help you identify suitable KPIs for your business. Once you have selected the correct KPIs, you need to track them over time. This will help you recognize trends and patterns in your data.

It is also essential to not just give everyone the same KPIs. They depend on department, seniority, and function—the more relevant, the more impact. To build a data-driven organization, everyone must understand how their KPIs link to the company strategy and what needs to be done to impact them. By integrating KPIs into the tools and platforms the team is already using, such as their CRM or project management tool, you can ensure that they are always top of mind.

Keep in mind: When it comes to KPIs, more is not always better. A small number of well-chosen KPIs will provide more insights than a large number of poorly chosen KPIs.

SMARTER Criteria for choosing KPIs

When selecting KPIs, you can use the SMARTER criteria to evaluate the right one (Specific, Measurable, Attainable, Relevant, Time-bound, Evaluate, Reevaluate). This is the extension of SMART criteria used in Project Management and can help for selecting suitable KPIs.

KPIs should be:

  • Specific: The KPI should be clearly defined and easy to understand.
  • Measurable: The KPI should be quantifiable to be tracked over time.
  • Attainable: The KPI should be realistic and achievable.
  • Relevant: The KPI should be relevant to the business goals and objectives.
  • Time-bound: The KPI should have a timeframe associated with it.
  • Evaluate: The KPI should be reviewed regularly to remain valid.
  • Reevaluate: The KPI should be reevaluated if there are changes in the business environment.

Creating a Mindset for Data-Driven Decision-Making

Making data-driven decisions is essential for success in any field. However, we must first have the right mindset to make effective decisions. We must be able to objectively analyze data and use it to inform our decision-making process. This can be difficult if we are biased or emotionally attached to a particular outcome.

To make data-driven decisions, we must be willing to change our opinions when new information arises. We must also be able to accept criticism and feedback, both from others and from our data. If we cannot do these things, we will be unable to make effective decisions using data.

It is also important to remember that data is not perfect. It can be incomplete, inaccurate, or misinterpreted. However, using data correctly can still be a valuable tool in our decision-making process. We must be careful not to let our biases and preconceptions cloud our judgment when reviewing data. Instead, we must use data to challenge our assumptions and help us see the world in a new light.

If we learn to adopt the right mindset, we can use data to make better decisions and succeed in any field. Data-driven decision-making (DDDM) is a process in which decisions are made based on data and analytics rather than intuition or experience.

List of 200+ important KPIs for Organizations

There is no one-size-fits-all answer to which key performance indicators (KPIs) are most important for your organization. However, some KPIs are universally important, regardless of your business or industry. And then there are also KPIs that will be specific to your organization and its goals.

That said, here is a list of more than 200 important KPIs, organized by topic and department. This list should give you a good starting point for determining which KPIs are most relevant to your organization.

Strategic Management KPIs

  1. Revenue
  2. Revenue per Employee / Revenue per FTE
  3. Total Costs
  4. Net Income
  5. Profit Margin
  6. Operating Margin
  7. Gross Margin
  8. Customer Acquisition Costs (CAC)
  9. Customer Lifetime Value
  10. Customer Satisfaction Score / Net Promoter Score
  11. Customer Churn Rate
  12. Sales by Product or Service
  13. Sales Target in % (Actual/Forecast
  14. Operating Expenses Ratio
  15. Net Profit Margin Percentage
  16. Return on Assets (ROA)
  17. Return on Equity (ROE)
  18. P/E Ratio
  19. Current Ratio (Assets/Liabilities)
  20. Debt to Equity Ratio
  21. Working Capital
  22. Employee Satisfaction Rating

Sales KPIs

  1. Sales Growth (YoY, QoQ. MoM)
  2. Sales Target %
  3. Customer Acquisition Cost (CAC)
  4. Customer Churn Rate
  5. Lead Response Time
  6. Lead Conversion %
  7. Lead to Opportunity Conversion %
  8. New Qualified Opportunities
  9. Total Pipeline Value
  10. Lead-to-Opportunity %
  11. Opportunity-to-Order %
  12. Average Order/Purchase Value
  13. Average Sales Cycle Time / LenghtUpsell %
  14. Cross-Sell %
  15. Sales Volume by Location
  16. Revenue per Sales Rep
  17. Profit Maring per Sales Rep

Operations KPIs

  1. Labor Utilization
  2. Employee Turnover Rate
  3. Employee Absence Rate
  4. Employee Training Rate
  5. ROI of Outsourcing
  6. Labor Materials
  7. Operating Margins
  8. Customer Lifetime Value
  9. Processes and Procedures Developed
  10. Cash Flow
  11. Project Schedule Variance
  12. Order Fulfilment Cycle Time
  13. Delivery In Full On Time Rate
  14. Rework Rate
  15. Customer Complaints

Project Management KPIs

  1. On-Time Completion %
  2. Milestones on Time %
  3. Estimate to Project Completion
  4. Adjustments To Schedule
  5. Planned vs. Actual Hours
  6. Resource Capacity %
  7. Budget Variance (Planned vs. Actual)
  8. Budget Iterations
  9. Planned Value
  10. Net Promoter Score
  11. Number of Errors
  12. Customer Complaints
  13. Change Requests
  14. Billable Utilization
  15. Return On Investment (ROI)

Marketing KPIs

  1. Total Revenue
  2. Revenue by Product or Service
  3. New Customers
  4. Cost per Acquisition (CPA)
  5. Cost per Lead
  6. Sales Target & Growth
  7. Average Order Value
  8. Upsell & Cross-Sell Rates
  9. Customer Lifetime Value (CLTV)
  10. Organic Traffic
  11. Bounce Rate
  12. Engagement Rate
  13. Click-Through-Rate (CTR)
  14. Goal Conversion Rates
  15. Website-Traffic-to-Lead Ratio
  16. Marketing Qualified Leads (MQLs)
  17. Sales Qualified Leads (SQLs)
  18. Lead-to-MQL Ratio
  19. MQL-to-SQL Ratio
  20. Average Time to Conversion
  21. Landing Page Conversion Rates
  22. Cost-per-Click (CPC)
  23. Return on Investment (ROI)
  24. Return on Ad Spend (ROAS)
  25. Net Promoter Score (NPS)

Human Resources KPIs

  1. Absenteeism rate
  2. ROI of outsourcing
  3. Succession planning rate
  4. Open/closed grievances
  5. Promotion rate
  6. Female to Male Ratio
  7. Average Time Stay
  8. Time to productivity
  9. Successor gap rate
  10. Worker composition by gender, experience, and tenure
  11. Internal mobility
  12. Manager quality index
  13. HR effectiveness
  14. Employee satisfaction rates
  15. Training ROI
  16. Gender Diversity By Role
  17. Part-Time Employees
  18. HR functional operating expense rate
  19. Labor cost per FTE
  20. Labor cost revenue percent
  21. Labor cost revenue expense percent
  22. Total benefits as a percentage of labor costs
  23. Overtime Hours
  24. Revenue per FTE
  25. Profit vs. compensation per FTE
  26. Human capital ROI
  27. HR functional cost per employee
  28. Cost per Hire
  29. Quality of hire
  30. Vacancy rate
  31. Turnover rate
  32. Turnover Rate By Group
  33. Training Cost per Hire
  34. Resignation/retirement rate
  35. External hire rate
  36. Time-to-fill
  37. Diversity, experience, and gender hire ratio
  38. Recruiting funnel metrics
  39. Talent import/export ratio
  40. Voluntary turnover rate
  41. Retention rate
  42. Recruiting expense per new hire
  43. Retirement rate forecast

Customer Service & Support KPIs

  1. Customer Churn
  2. Top Agents
  3. Service Level
  4. MRR Growth Rate
  5. Number of Issues (By Type)
  6. First Response Time (FRT)
  7. First Contact Resolution Rate
  8. Average Response Time
  9. Average Resolution Time
  10. Most Active Support Agents
  11. Cost Per Conversation
  12. Customer Satisfaction Score (CSAT)
  13. Net Promoter Score (NPS)
  14. Positive Customer Reviews
  15. Customer Effort Score
  16. Customer Retention Rate
  17. Support Costs / Revenue Ratio
  18. Knowledge Base Articles
  19. Employee Engagement

Procurement KPIs

  1. Compliance Rate
  2. Number of Suppliers
  3. Purchase Order Cycle Time
  4. Supplier Quality Rating
  5. Supplier Availability
  6. Supplier Defect Rate
  7. Vendor Rejection Rate & Costs
  8. Lead Time
  9. Emergency Purchase Ratio
  10. Purchases In Time & Budget:
  11. Cost of Purchase Order
  12. Procurement Cost Reduction
  13. Procurement Cost Avoidance
  14. Spend Under Management
  15. Procurement ROI

IT & Technology KPIs

  1. IT Costs vs. Revenue
  2. IT Team Turnover
  3. Total Tickets vs Open Tickets
  4. Average Handle Time
  5. Total Support Tickets
  6. Open Support Tickets
  7. Ticket Resolution Time
  8. Reopened Tickets
  9. Unsolved Tickets Per Employee
  10. IT Support Employees per End Users
  11. Total Projects
  12. Projects on Budget
  13. Accuracy of Estimates
  14. IT ROI
  15. IT Costs Break Down
  16. New Developed Features
  17. Number of Critical Bugs
  18. Team Attrition Rate
  19. IT Support Employees Per End Users
  20. Uptime %
  21. Server Downtime
  22. Security Related Downtime
  23. Backup Frequency
  24. Cybersecurity Rating
  25. Amount Of Intrusion Attempts
  26. Mean Time To Detect
  27. Mean Time To Repair
  28. Average Time Between Failures
  29. Phishing Test Success Rate

Social Media KPIs

  1. Social Share of Voice (SSoV)
  2. Total Reach
  3. Total Impressions
  4. Followers, or Fans, or Subscribers
  5. Audience Growth Rate
  6. Share Rate (Shares or ReTweets)
  7. Interest Rate (Likes, Reactions, Favorites)
  8. Response Rate (Comments, Replies)
  9. Key Post or Hashtag Reach
  10. Link Clicks
  11. Site Traffic From Social (By Platform)
  12. Conversions From Social (#)
  13. Conversion Rate From Social (%)
  14. Revenue From Social (#)
  15. Social Program ROI

Financial KPIs

  1. Gross Profit Margin
  2. Gross Profit Margin Percentage
  3. Operating Profit Margin
  4. Operating Profit Margin Percentage
  5. Net Profit Margin
  6. Net Profit Margin Percentage
  7. Operating Expense Ratio
  8. Working Capital Ratio
  9. Debt-To-Equity Ratio
  10. Quick Ratio / Acid Test
  11. Current Ratio
  12. Berry Ratio
  13. Return on Assets
  14. Return on Equity
  15. Cash Conversion Cycle
  16. Accounts Payable Turnover Ratio
  17. Accounts Receivable Turnover Ratio
  18. Vendor Payment Error Rate
  19. Budget Variance
  20. Payroll Headcount Ratio

Source of List: MoreThanDigital Insights

Author: Benjamin Talin, CEO MoreThanDigital

MoreThanDigital Insights is a global leading platform for business analytics. We provide the data-driven insights needed to make better strategic decisions, cut through the noise, and future-proof organizations. Our neutral and independent platform analyzes, and benchmarks every aspect of a company, from financial data to several maturity areas. Insights from up to 300 different business dimensions give holistic insights into the organization. This information is essential for a data-driven strategy. It allows companies to invest in projects and topics that will impact their success. With MoreThanDigital Insights, you can be confident that you're making decisions based on facts and data, not guesswork. Our platform is constantly updated with the latest data and insights, so you can be sure that you're always ahead of the curve. Make MoreThanDigital Insights your go-to source for business analytics. Stay ahead of the competition, set the right strategy, make decisions based on data, measure your success and see your progress.

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