BIAnalytix Tip Summary: Key Performance Indicator (KPI) Goal Definition

A major benefit of BI systems is the ability to use carefully chosen goals to create and report on Key Performance Indicators (KPIs).

Goals used for KPIs should reflect specific strategies a business will leverage to accomplish their business objectives. It is important for these goals to be concrete and measurable. A goal can be a specific number target such as a minimum revenue amount or it can be a percentage growth or loss over a specified period of time. For example, a goal could be to increase revenue by 10% for the same month last year or to decrease the amount of churn by 10% for the same month last year. These specific goals whether they are a calculated value based on percent change or a specific number can then be used in KPIs which can be graphically displayed and evaluated quickly by management at any level.

Goals are the main cornerstone for any Key Performance Indicator to be calculated from and can be very useful for businesses to identify processes that need improvement.

BIAnalytix is an advanced Media business Intelligence system from Decentrix which uses Analysis Services to make the creation and evaluation of these KPIs fast and accurate.

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