I am a software developer, and my job wants me to do data analytics. I felt like this was a good introduction to understand what my client is talking about when they mention KPI. (I have no business education)
I'm happy to hear this was helpful. People are often not clear about what they mean by "KPI." I'm sure you can help may of your clients by knowing how to utilize KPIs in the right way.
Thanks for explaining KPI's with examples. I was lost with too much information out there, but your video was very clear and helpful. Now, I understand the whole picture of KPI's. Thanks a lot.
Thank you very much. I'm just learning about KPIs, and this makes it so easy to understand. I saved your video so I can come back and re-watch later. Awesome work!
Thank you very much. You changed my perspective, now I know that I can do my own KPIs. You put in the video that structured simplicity that we were all looking for.
Great question. I've found that to be the sweet spot in terms of covering the main areas of a business while still keeping things simple and effective. Too few KPIs = you miss key insights. Too many = the key insights get diluted with "noise" (things that are less/not important).
This is really helpful to easily understand nd i like your video and the way you make it understandable , i really enjoy this video with smile on my face. The way you were explaining it makes me feels that this video never gonna end . Thank you:)
@@DanielAudunsson Dear Daniel Audunsson, For the first 6 minutes, this video describes on and on, the same thing, in different ways: "That KPIs, help the business to monitor their present and future performance." I will continue to watch the rest video another day, and it may give great guidance after those 6 minutes, but for future reference, I would kindly recommend trying to not have a repetitive pattern in your descriptions, especially at the beginning of a video. I wish you a wonderful weekend and thank you for your overall educational contribution. :)
CSFs are like OKRs, I have a separate video explaining OKRs vs KPIs (and how we use both together): ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C_wS5Nuf1NM.html
Thanks for the video. Very valuable information on the basics of a business. I have a question regarding what is a KPI in my line of work or for my personal life if I want to use it for that? If I think of a KPI for my business it would be something like sales calls, modules of the program made, or posts made with engagement. And if it is in my personal life it could be with times I did the morning routine, days I did exercise hoor days practice with x hobbies. Am I getting it correct?
Hi Leonardo, I'm glad to know you found this information valuable! Yes, you are on the right track. Check out this other video I made specifically about Personal KPI's (with examples & tracker template): ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-gh_3Es7rnFs.html
Hi Daniel, great video, keep it up....can you or anyone let me know is there any ISO standard for guidance on KPIs or not ? Any other international standard ?
@@DanielAudunsson thanks, I did a quick research ISO 22400:2014 talks about KPIs although this standard is about automation and integration, Perhaps you can enlighten us in one of your videos on this in near future, cheers
Check out the free KPI tool I show you in this video, you can access it via the Google Drive app on a mobile phone: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-qg-GHYYNT9w.html&t
You're welcome. That's a great question: You can cycle between targets. Meaning if for say half of the year revenues are significantly lower, it might not make sense to focus on growing revenues during that time (or, it might). Instead you can focus on improving another aspect of your business during that time. We (ecommerce) generally cycle between focusing on improving top-line revenues ("bulking") and bottom-line profitability ("cutting"). This is more effective than trying to do both at once, which can be counterproductive. I hope this makes sense and is helpful.
@@DanielAudunsson thank you for your response! I have another question I can't seem to find an answer for: Should we be running KPI's based on our accrual accounting or cash-based accounting? we use Quickbooks Online accrual-based but it can be switched to cash if needed. Seems my CRM sales numbers and QBO sales numbers are so different I'm confused whats best. Thanks again! 🙏
@@brushmasterspaintingfranchise you're welcome! You can do either (depends on the nature of your business what makes the most sense) but in general, I prefer cash-based accounting when it comes to KPI's. "Cash balance" is a good KPI to include regardless, btw.
I have a question for you Daniel, I have watched a lot of videos about kpis and most of them are strategic indicators. I am a union electrician and I'm looking for ways to build metrics systems for the line level. Any ideas or suggestions on resources?
@@DanielAudunsson I would be very interested to hear who are you learning from, or who is your mentor? Equally excited to hear if you have a list of books or studies you would recommend that helped you to get where you are today. You could make a great video of that! :)
@@akossz1575 well noted, that is a good idea! I will make a note of that. It's been a lot of different people over the years. I try to learn from different fields because I find that a lot of what applies to one area applies to another.
Hi Rolan, if you want to learn more about the specific tactics / strategies I've developed over the years to achieve good results in business then you can check out my free case study here: get.intoprofits.com
With all my respect, it seems your idea about KPI optimization is NOT clear , and you do NOT know what you are talking about !!! Basically, before we start any project we have to build our PKIs matrix , then, we optimize it, how? assume PKI(X)i = F(X)i is the desired PKI to be optimized , provided that = constant = X0 and PKI(X)i+1, PKI(X)i+2 , ..... PKI(X)n-m, ..., PKI(X)n = constant Xc -----> First iteration Now we got the values of (PKI )i=0 , (PKI) i= 1 , so, we choose another (KPI )i to optimize and fill the PKI matrix considering all other PKI are constants except PKI (X) i=0 , PKI (X) i=s we put their values ---------> second iteration after n iteration we are getting the optimized solution to all our all PKI
