What is The Right Term: KPI, Indicator or Metric? From a business viewpoint, it doesn’t make sense to call something “KPI” until abusiness contextis defined. A safer alternative for the KPI term would be “indicator” or “metric.” Still, in this article, I’ll be often using the...
Why is the K-Factor Important for Your Online Business? The K-Factor is a key performance indicator (KPI) measuring the effectiveness of your ad campaigns’ user acquisition rates. The best way to understand the importance of the K-Factor is to view it as the equivalent of an interest rate...
In this post, we will focus mostly on the use of targets. However, it is fundamental to mention goals as the basis. A KPI goal is the strategic objective your company is trying to achieve, for example, to double revenue in the next 5 years. Targets are the specific more operational mea...
An Average Daily Rate is an important hotel KPI that’s based on calculating the average rate or price of a hotel room sold on any given day. As mentioned, this rate is super helpful for comparing how well your hotel is doing versus hotels of a similar caliber. Ultimately, it’s one ...
Diving into User Growth Rate is a further step of mobile app performance optimization. By keeping a close watch over this KPI, your product and marketing teams can gain invaluable insights into the app's growth journey. User Growth Rate can be calculated by subtracting the total number of user...
Customer churn is calculated by dividing the total number of customers that left the business over the period by the number of customers you had at the beginning of that period. What is churn KPI? Churn KPI, also called customer churn rate, is the measure to track customer attrition. It is...
Here are a few key things to watch out for around how earned media value is calculated: Common calculation inconsistencies: The challenge with EMV calculations is that there is no standard way to assign a monetary value to social media engagements. Some methods rely on advertising equivalents, li...
Just by robustly thisKPI, we become better positioned to challenge performance issues head-on. However, by sharing information about our future inventory requirements, the supplier may be better positioned to fulfil your order. Furthermore, if the supplier can provide insights into their availability...
Key performance indicators (KPIs) are critical measures of performance for sales teams. They can evaluate the efficiency of a sales funnel, assess the effectiveness of outreach methods, and even identify the number of emails reps send out in a given week. But no KPI receives more attention than...
Retailers often make units per transaction (UPT) a key performance indicator(KPI). A basic unit per transaction (UPT) is calculated by dividing the number of items purchased by the number of transactions for the period. It is advised that units per transaction (UPT) be calculated later on a...