When you run a business, it’s easy to feel like you’re drowning in statistics and metrics. But merely knowing all of these random numbers doesn’t help you.
For companies looking to scale, it’s important to constantly evaluate operations. In order to track business objectives, company executives need to establish Key Performance Indicators (KPIs), a set of metrics used as a target to bring them closer to their goals.
You don’t have a crystal ball, so it’s impossible to know what exactly the future holds. But by tracking the Key Performance Indicators (KPIs), you can use hard data to predict things like profit margins, revenue growth, and conversion rates.