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- Key Performance Indicator (KPI) Matrix
Key Performance Indicator (KPI) Matrix
The Key Performance Indicator (KPI) Matrix is a 2x2 matrix that helps organizations measure their performance and progress towards their goals. It divides the performance indicators into four categories: Critical Success Factors, Key Performance Indicators, Supporting Indicators, and Unimportant Indicators.
At a very high level, the Key Performance Indicator (KPI) Matrix is used in the context of business, marketing, finance.
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- Workforce Skill Development Matrix
- YouTube Marketing Matrix
What is the Key Performance Indicator (KPI) Matrix?
A visual explanation is shown in the image above. The Key Performance Indicator (KPI) Matrix can be described as a matrix with the following quadrants:
- Critical Success Factors: Critical Success Factors are the most important performance indicators, and they are the ones that will have the most impact on the organization's success. Examples include customer satisfaction, employee engagement, and market share.
- Key Performance Indicators: Key Performance Indicators measure the performance of the organization in relation to its goals. Examples include sales revenue, customer retention rate, and cost per acquisition.
- Supporting Indicators: Supporting Indicators provide additional information about the performance of the organization. Examples include website traffic, social media engagement, and customer feedback.
- Unimportant Indicators: Unimportant Indicators are indicators that are not important to the organization's success. Examples include website page views, time spent on website, and number of downloads.
What is the purpose of the Key Performance Indicator (KPI) Matrix?
The Key Performance Indicator (KPI) Matrix is a 2x2 matrix that helps organizations measure their performance and progress towards their goals. It divides the performance indicators into four categories: Critical Success Factors, Key Performance Indicators, Supporting Indicators, and Unimportant Indicators.
Critical Success Factors (CSFs) are the most important performance indicators, and they are the ones that will have the most impact on the organization's success. These are the indicators that must be monitored and managed closely.
Key Performance Indicators (KPIs) are indicators that measure the performance of the organization in relation to its goals. These are the indicators that should be tracked on a regular basis to ensure that the organization is on track to achieving its goals.
Supporting Indicators are indicators that provide additional information about the performance of the organization. These indicators can be used to provide additional insight into the performance of the organization, but they are not as important as the CSFs and KPIs.
Unimportant Indicators are indicators that are not important to the organization's success. These indicators can be used to provide additional information, but they are not as important as the other indicators.
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What templates are related to Key Performance Indicator (KPI) Matrix?
The following templates can also be categorized as business, marketing, finance and are therefore related to Key Performance Indicator (KPI) Matrix: Effort Impact Matrix, Gap Analysis Matrix, Growth Share Matrix, Kraljic Matrix, Outsourcing Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.
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