Displaying Key Performance Indicators (KPIs)
November 5, 2008 by samirshah
Every company has some metrics to measure how well they are performing against targets. A few get these measures correct. The idea is to measure The Key Metrics so as to not over complicate and dilute the absolute key indicators for success.
Imagine driving a car….the dashboard provides me with key indicators to show how it is performing. There are some indicators that I react to immediately and others that warn me so I can plan ahead. To give an example of this:
- Immediate Reaction - If the speed indicator shows that the current speed is above the legal limit there will be an instant reaction to reduce that speed
- Planned intervention - If the fuel dial shows that there is a quarter tank left, I would make sure that I fill up at the next available opportunity
Now imagine if I received this feedback daily or weekly? It will be too late before I realise I need to do something and will be likely to receive a speeding ticket or left stranded as there was no fuel left. This is how most companies measure their Key Performance indicators. It is too late to remedy what happened yesterday. Won’t it be immensely beneficial to indicate the current performance to target in real time?
The XL800 system enables you to give this instantaneous feedback on the level of performance to the people who are driving your production. They can use this information to make an immediate change or a planned intervention at their earliest convenience. The important thing is that they are given the information to enable them to make a certain decision.
You can customise your XL800 system to display whatever performance measures you deem are important. It is capable of measuring over 100KPIs and this gives you the flexibility to customise and display your chosen KPIs to ensure that you are tracking the measures that will ensure your ultimate success!
Follow this link to get more information on defining the right KPIs for you http://en.wikipedia.org/wiki/Key_performance_indicator
