From the course: Building KPIs for Data-Driven Strategy

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Figuring out what to measure as KPI

Figuring out what to measure as KPI

From the course: Building KPIs for Data-Driven Strategy

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Figuring out what to measure as KPI

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- [Instructor] Once you've identified your goals and objectives, it is time to track down exactly how you'll measure things. You're getting closer to the data now, but you're still not worried too much about execution. During this stage, you want to try to imagine the perfect data you could use for your KPI before settling for the imperfect, real world data you actually have. Let's go back to our employee retention example. Let's say my company's especially interested in how we're doing with retention at the three year mark. Maybe that's the break even point for our investment in new employees, and it's not based on their hire and exit dates, but it's actually based on their tenure since they finished their onboarding training. Some people do that in a couple of months. For others, it takes a year or more. So using their hire date isn't accurate enough. How would I measure this in a perfect world? I would have some database that has a completed training date field as my start date…

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