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Do you know the difference between KPIs and metrics?

17 Nov 2022. 09:54
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  • SME maturity
    All
    Topic
    1. Methodology
    Scope to digitize
    1. Business processes

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Are KPIs and metrics the same thing?

To understand this, we need to clarify three points:

  1. A Key Performance Indicator (KPI) is essential to evaluate the success of your business processes and actions.
  2. A metric is used to track a specific action in a quantifiable and objective way.
  3. In other words, a KPI is the essential metric that helps you to know if your strategy is helping you to achieve your objectives.

Therefore, a KPI is a metric, but not all metrics can be considered KPIs.

 

Measuring the actions you take is key to improving the performance of your business and allows you to:

  • Know which strategy gives the best results.
  • Detect needs.
  • Make more precise decisions on the go.
  • Achieve the proposed objectives.

 

Now that you know the difference... Are you ready to track your objectives?

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