KPIs, short for key performance indicators, are quantifiable measures used to determine whether a business is achieving one or more strategic objectives. There are at least two applications for KPIs in operational excellence:
Define KPIs and targets tomeasure the effectiveness of the team
Help other business functions to define appropriate and aligned KPIs and targets
How are KPI's managed in the Platform?
The EON platform makes it easy to do the following:
Measure performance and track improvements
Define and track KPIs against a predefined target in the well known "bowling chart" format
Assign ownership for individual KPI's
Observe performance trends
Create action plans as counter measures
Why manage KPI's using the Platform?
Organizations use the KPI management feature in EON for the following reasons:
Align the critical measures of organizational performance to the overall business strategy
Create a “closed loop” system whereby sub-par performance translates to tactical action plans with clear ownership and due dates
Reinforce a culture of transparency and accountability
