The hospitality market is competitive, so it pays off to understand how your business performs compared to your competitors.Key performance indicators(KPI) are statistics that can help you, and one of the most important is your revenue generation index (RGI). If you’re unfamiliar with RGIs, w...
Client satisfaction is crucial for maintaining loyalty and driving business growth. This KPA measures how customer expectations are met or exceeded using tools like feedback surveys, customer reviews, reorder rates, and complaint analysis. Understanding client needs through feedback enables continuous impro...
Still, no matter which metric is used, the goal stays the same: To increase revenue and profits. In this post, we will discuss the formulas you can use to calculate RevPAR, the alternative KPIs, and offer strategies for increasing RevPAR — or GoPAR or ARPAR or whichever metric you pref...
What is the difference between a KPI and a business metric? Business metricsare the units of measurement used in KPIs. All KPIs use business metrics, but not all business metrics become KPIs. You can designate a metric as a KPI if it is relevant to the organization's goals or the goals ...
If you don’t know how well marketing is doing, you can’t correct your course when you’re heading in the wrong direction. The result? Wasted money. Wasted effort. So you need to track CPL, and that means you need to calculate it. Easier said than done, right? Well, not so fast...
How to calculate your number of orders Calculating the number of orders is straightforward and only requires business owners to set date limits and count how many sales from individual customers they had during that time. What is a good number of orders?
Total sales is a key performance indicator (KPI) used by sales departments to track the total amount of revenue generated from sales over a given period of time
Now that we understand the definition and components of lead time from order to delivery, how do you calculate lead time? This important metric is one of the simplest calculations you’ll find when managing a project, supply chain or manufacturing process. ...
Collections Effectiveness Index(CEI) is a popular metric across industries that measures how their A/R teams perform. Learn its formula and how to calculate it.
But how much improvement is it? These little things may not be so important to measure, but there are other instances in which progress is crucial to keep track of. But objectives and key results (OKR) software can help. What is a KPI? KPIs stands for key performance indicator and is ...