The KPI Institute launched a series of free infographics called KPI of the Month to offer insights into the practical application of KPIs. Each infographic focuses on a particular key performance indicator (KPI) that provides explanations of terminology and addresses key challenges related to its use. The monthly infographics include definition, calculation, balanced scorecard focus, data profile, targets, and practical recommendations. 

To ensure that you stay informed and updated, we highlight in this article the KPI of the Month from the third quarter of 2024, focusing on three KPIs that can significantly impact any organization in any field or industry: # Inventory turnover ratio # Employment brand strength, and $ Customer acquisition costs.   

By examining these metrics, you can gain insights into operational efficiency, market positioning, and overall profitability. Furthermore, organizations can gain a holistic view of their performance and make informed decisions that can position them for sustainable growth and success when the indicators mentioned are fully grasped. So whether seeking to optimize inventory management, strengthen employer brand, or reduce customer acquisition expenses, you can dive into these indicators and discover how they contribute to a thriving business. 

KPI of July: # Inventory turnover ratio – This indicator “measures the number of times the inventory has been sold and replaced within the reporting period.” Based on its practice recommendation, # Inventory turnover ratio is influenced by various factors such as product characteristics, market demand, and business models. Access more insights into this indicator by getting a free copy of the poster via TKI Marketplace.

KPI of August: # Employment brand strength – This indicator evaluates the attractiveness of an organization as a workplace for employees and job seekers based on an index derived from survey responses and quantitative metrics. # Employment brand strength allows companies to tailor their calculation methods by selecting key themes and incorporating both survey data and KPIs. For more details about this indicator, download the free poster via TKI Marketplace.

KPI of September: $ Customer acquisition cost – This indicator determines the average cost associated with acquiring a new customer. It is crucial for companies aiming to achieve long-term profitability. In connection with $ Customer Lifetime Value, $ Customer acquisition cost assesses the cost efficiency of sales and marketing expenditures. By striving for an optimal ratio between these two indicators, businesses can refine their acquisition strategies, boost profitability, and minimize the payback period. To learn more about practical applications for this indicator, get a free copy of the poster from TKI Marketplace.

Enhance your KPI knowledge with a comprehensive collection of documented KPIs from various industries and functions. Explore the world’s largest database of KPI examples and customizable dashboards— visit smartKPIs.com today!

Key performance indicators (KPIs) serve as essential navigational tools, guiding organizations toward success in both strategic planning and operational execution. 

According to the State of Strategy Management Practice Global Report – 2023, “KPIs are extensively employed in two main areas: employee performance evaluations and corporate performance assessments.” Using KPIs in employee evaluations establishes clear expectations, tracks progress, and offers feedback. Similarly, KPIs employed in corporate performance assessments track progress toward strategic goals.

The KPI Institute launched a series of free infographics called KPI of the Month to offer insights into the practical application of KPIs. Each infographic focuses on a particular KPI that provides explanations of terminology and addresses key challenges related to its use. The monthly infographics include profile, calculation, balanced scorecard focus, data profile, targets, and practical recommendations.

To ensure that you stay informed and updated, we’ve compiled the KPI of the Month from the second quarter of 2024: $ Customer Lifetime value, # Cycle time in Agile, and % Projects with benefits realized. These KPIs not only highlight essential aspects of customer engagement, operational efficiency, and project management, but also play crucial roles in promoting sustainable growth and enhancing organizational agility. Let’s take a look at each KPI and its function:

KPI of April:  $ Customer Lifetime value – This indicator “measures the monetary value a company anticipates earning from a customer throughout their lifetime as a paying client.” Its purpose is to determine the value of customers based on their unique characteristics. Moreover, utilizing this indicator can assist organizations in refining marketing strategies, improving customer retention, and maximizing long-term profitability. To learn more about the $ Customer Lifetime value, download the poster on TKI Marketplace.

KPI of May:  # Cycle time in Agile – The purpose of this indicator is to assess the effectiveness of the development process of a team. It determines the average amount of time needed to accomplish a task from the time it starts the development process until it is finished and delivered. The # Cycle time in Agile helps find areas where processes can be streamlined by measuring output and delivery speed across several iterations. Download the free digital poster via TKI Marketplace.  

KPI of June: % Projects with benefits realized – This indicator measures the proportion of projects in the portfolio that have achieved or realized the expected benefits in relation to the total number of projects in the portfolio. Projects that use the benefits realization method seek to offer particular outputs in addition to strategic aims. To learn more about practical applications for this indicator, get a free copy of the poster from TKI Marketplace.

To widen your KPI expertise with an extensive collection of documented KPIs across diverse industries and functions, visit smartKPIs.com— a leading online platform dedicated to performance measurement and KPI management. It hosts the world’s largest database of documented KPI examples, offering resources such as KPIs by industry and department, and dashboards. Check it out now!

The only constant in life is change. Yet, we are often surprised when change happens. In the realm of business and the workplace, new trends emerge every day. Hence, staying up-to-date is not only necessary today, it is a must! This means learning new concepts and practices that can help advance your knowledge and skills, which is crucial for staying competitive and effective in your work or business.

As we embark on the second half of 2024, now is the perfect time to explore how The KPI Institute (TKI) memberships can accelerate your journey to mastery of any field from the 12 practice domains TKI research programs cover, such as strategy and business planning, performance management, and data analysis

Whether you are a seasoned professional or just starting in your career, TKI memberships offer a gateway to a wealth of resources, insights, and networking opportunities tailored to enhance your expertise and drive organizational success. 

TKI provides four membership tiers, each tailored to meet the needs of different engagement levels and areas of interest with an annual membership fee that accommodates various budgets. Find out which membership package best fits your needs.

The KPI Institute Membership

This membership is TKI’s most basic package and ideal for a trial period, especially if you are new and want to test our services. This includes:

• Full access to all premium content in smartKPIs.com, including online guidance for exploring the TKI knowledge platforms
• Event discount of up to $100 off the early bird rate
• Two KPI dictionaries of your choice
• Two Top KPI reports of your choice
• Two Performance Management toolkits of your choice
• Two webinars of your choice
• Preview to research studies’ executive summaries

For further information, visit The KPI Institute Membership on the TKI Marketplace.

The KPI Institute Insight Membership

This tier includes most of what is in the basic package or TKI membership, but what sets this apart is that you have full access to all available resources in TKI platforms and an event discount for two or more participants’ rates.

• Full access to all premium content in smartKPIs.com, including phone guidance for exploring the TKI knowledge platforms: eight hours of video or phone advisory support from a TKI research analyst and another eight hours of support for a customized secondary research project on demand
• Training courses and conferences discount: $100 off when registered with another companion or more
• Full access to all available KPI dictionaries, Top KPI reports, Performance Management Toolkits, webinars, and Research Library resources

If this suits your preferences, you can read more and purchase the membership through the TKI Marketplace. 

The KPI Institute Insight Plus Membership

Providing exceptional value for your investment, this exclusive membership option includes complimentary access to one of TKI’s global training courses and performance events.

• One full certification course or conference of your choice: Live Online and Recorded Courses
• Full access to all premium content in smartKPIs.com, including online guidance for exploring the TKI knowledge platforms and four hours of support from a TKI research analyst
• Training courses and conferences discount: $100 off when registered with another companion or more
• Full access to all available KPI dictionaries, Top KPI reports, Performance Management Toolkits, webinars, and Research Library resources
• Participation in an exclusive private group accessible solely to members of The KPI Institute
• An electronic membership certificate showcasing dedication to professional excellence through continuous learning

If this matches what you are looking for, visit the TKI Marketplace.

The KPI Institute elearning Membership

This membership is similar to the TKI Insight Plus membership, but what sets it apart is access to six online pre-recorded courses of your choice throughout the year.

• Full access to all premium content in smartKPIs.com, including online guidance for exploring the TKI knowledge platforms  and four hours of support from a TKI research analyst
• Training courses and conferences discount: $100 off when registered with another companion or more
• Full access to all available KPI dictionaries, Top KPI reports, Performance Management Toolkits, webinars, and Research Library resources
• Participation in an exclusive private group accessible solely to members of The KPI Institute
• An electronic membership certificate showcasing dedication to professional excellence through continuous learning

If this aligns with your expectations, visit the TKI Marketplace for further information.

It is never too late to start on your learning journey and take charge of your professional development with TKI! Become a member today and empower yourself with the resources and opportunities to thrive in your career. For further questions or assistance, please reach out via email to sales at [email protected] or support at [email protected] 

Reports featuring the most popular KPIs of 2022 are now all available at The KPI Institute’s Marketplace platform. This series covers different contexts in which KPIs can be used by professionals and offers up-to-date information and resources on selecting and using KPIs.

The most popular KPIs were processed based on the data from smartKPIs.com, the world’s largest database of documented KPIs. In every report, users will find a KPI profile, analysis, notes on KPI reporting, and other details pertaining to performance measurement.

Explore the most popular KPIs in their respective industries or areas through the KPI of the Month poster collection, which can be downloaded for free:

KPI of January: # Days on market – measures the number of days a property stays on the market on average, between the listing for sale and the contract signing

KPI of February: # Berry ratio – measures the ratio of an organization’s gross profits to operating expenses

KPI of March: % Production First Time Yield (FTY) – measures the percentage of good units produced as per specifications from the first run of the process, out of the units going into the process

KPI of April: % Hospital bed occupancy rate – measures the percentage of beds in the hospital that are occupied by patients on a daily basis, out of the overall number of hospital beds

KPI of May: # Pick-to-ship cycle time for customer orders – measures the average time (in hours or days) from the moment of picking the order to the moment of shipping the product to the client

KPI of June: # Liquidity ratio – measures the available cash or other assets easily convertible into cash that could cover short term payables

KPI of July: % On time departures – measures the percentage of flights that are departing within 15 minutes from the initially scheduled take-off time out of the total number of flights scheduled for departing

KPI of August: % Project schedule variance – measures the variance in terms of schedule, revealing the alteration between the planned project timeframe and the actual project phase

KPI of September: % Production uptime – measures the percentage of the utilized operation time, from the planned available production time

KPI of October: % Employee turnover – measures the rate at which employees leave the organization in a given period

KPI of November: # Lost Time Injury Frequency Rate (LTIFR) – measures the number of work-related incidents generating time loss that are occurring per one million hours worked

KPI of December: $ Revenue Per Available Seat Hour (RevPASH) – measures the restaurant’s revenue on a per available seat hour basis.

The KPI Institute (TKI) marks its 17th year of research on KPI best practices, with 21,264 KPIs documented on smartkpis.com to date. Smartkpis.com functions as an online KPI library built with performance cycle solutions and designed for professionals and public and private organizations who want to monitor the performance of key result areas of their business activities.

The KPI Database, a result of ongoing research activity managed by experienced performance measurement analysts, covers 25 industries and 16 functional areas, such as accounting, finance, CSR, human resources, portfolio and project management, sales, and supply chain.

More than 84,000 subscribers now enjoy access to a wide range of KPI examples that they can apply to their business environment, the global level, and even personal contexts, such as productivity and work-life balance. 

Members can find relevant KPI examples for their context, use them to design their own template, and get advice from experts about performance measurement.

They can also explore TKI’s Research Library, which virtually houses hundreds of resources and publications on performance-related research. 

Some of them are The KPI Dictionary series, which features definitions and calculation formula for more than 8,000 KPIs, and the Top KPI Reports series, which records the most popular KPIs used in different industries along with insights from TKI’s research analysts.

To those who would like to develop and upgrade their performance management architecture, TKI offers Toolkits consisting of pre-populated templates and examples to guide organizations in the process.

Apart from generating research reports, TKI remains committed to equipping professionals and organizations with the necessary skills in addressing KPI measurement challenges. Through the Certified KPI Professional program, they can achieve international recognition in the field of performance measurement, provide value for their business, and join esteemed peers in the Certified KPI Professionals Community.

Some of the organizations that have used TKI’s services are Accenture, Microsoft, PWC, BMW, Pepsico, Samsung, Emirates, IBM, Hilton Worldwide, and Petronas. Join the growing list of clients by choosing the subscription plan that suits your needs.

For inquiries, contact Cristina Mihăiloaie, Business Unit Manager – Research Division:  [email protected], +61 (390) 282 223 or +40 (749) 424 517.

We are more than happy to announce the launch of our newly designed website, smartKPIs.com, as the online base of our performance measurement practice.

Our mission was to provide you with a fast, useful and user friendly platform where you can easily navigate and find all the information you need.

The platform generates accurate, up to date information and it allows us to share with you our professional expertise in performance management.

(more…)

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Restaurant Scorecard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Restaurant activities include the provision of complete meals or drinks fit for immediate consumption, in traditional restaurants, self-service or take-away restaurants, whether as permanent or temporary stands, with or without seating. Also, it can include the service of food and beverage to a group as part of an organized event, where services occur to all guests within a specific time frame. Restaurants vary greatly in appearance and offerings, including a wide variety of the main chef’s cuisines and service models.

The KPIs for Restaurant Scorecard report is a comprehensive collection of 25 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Restaurant Scorecard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

(more…)

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Restaurant Dashboard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Restaurant activities include the provision of complete meals or drinks fit for immediate consumption, in traditional restaurants, self-service or take-away restaurants, whether as permanent or temporary stands, with or without seating. Also, it can include the service of food and beverage to a group as part of an organized event, where services occur to all guests within a specific time frame. Restaurants vary greatly in appearance and offerings, including a wide variety of the main chef’s cuisines and service models.

The KPIs for Restaurant Dashboard report is a comprehensive collection of 30 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Restaurant Dashboard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

(more…)

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Recruitment Agency Scorecard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Recruitment and employment activities include the search and placement of permanent or temporary staff. Clients can be both organizations that have outsourced these human resources processes, integrally or for specific vacancies, and individuals in search for a job. KPIs focus on both process efficiency (planning, interviewing, selecting, hiring) and suitability with the client’s needs.

The KPIs for Recruitment Agency Scorecard report is a comprehensive collection of 28 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Recruitment Agency Scorecard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

(more…)

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Recruitment Agency Dashboard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Recruitment and employment activities include the search and placement of permanent or temporary staff. Clients can be both organizations that have outsourced these human resources processes, integrally or for specific vacancies, and individuals in search for a job. KPIs focus on both process efficiency (planning, interviewing, selecting, hiring) and suitability with the client’s needs.

The KPIs for Recruitment Agency Dashboard report is a comprehensive collection of 22 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Recruitment Agency Dashboard. Each KPI is documented based on the best practice KPI documentation template proprietory to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

(more…)