A Key Performance Indicator (KPI) is more than just a number; it tells a performance story and includes various elements such as quantitative metrics, visualizations, analysis, benchmarks, assessments, and governance rules. While not every KPI needs to incorporate all 13 outlined elements, each should be considered to effectively represent performance. Corporater emphasizes the importance of context and the relationship of KPIs to broader business strategies in their business management platform.

1. ELEMENTS
of a
Good KPI
13

2. The answer depends on who you ask. For most IT
and Business Intelligence people, a KPI is simply a
number representing performance for a specific
process, domain, or subject. But a KPI is more than
a number. It should tell a performance story
13 ELEMENTS OF A GOOD KPI
What is a KPI?

3. A good KPI story contains most, if not all, of the
13 elements mentioned in this presentation

4. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Quantitative aspects of the KPI such as Actual, Target, and
Best Performance1

5. 13 ELEMENTS OF A GOOD KPI
KPI Elements
KPI card with description, owner, data source, frequency,
intention, thresholds, and much more2

6. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Charts showing the visualized performance of the KPI in a
context such as time3

7. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Analysis that shows the build-up of metrics from which the
KPI is derived – this is often displayed via “drill down”
capabilities
4

8. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Benchmarks to see show how an entity is performing
compared to competition (or as compared to internal
benchmarks)
5

9. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Written assessments from the KPI owner of his/ her
evaluation of performance6

10. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Corrective actions to get back on track if performance has
deviated7

11. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Initiatives to improve performance and reach the defined
target set for the KPI8

12. 13 ELEMENTS OF A GOOD KPI
KPI Elements
If the KPI is a part of a value driver tree, it should also be
shown in context of the value driver tree9

13. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Governance rules – what will happen if KPI is not
performing? Will there be notifications, processes to initiate
escalations, approvals?
10

14. 13 ELEMENTS OF A GOOD KPI
KPI Elements
You should be able to explore and analyze the performance
as well as perform “what if’s” and conduct even more
analysis
11

15. 13 ELEMENTS OF A GOOD KPI
KPI Elements
Risk factors and risk mitigation plans – every KPI can be
subject to unexpected risks. What are they? What can we do
to mitigate the risk factors, if they occur?
12

16. 13 ELEMENTS OF A GOOD KPI
KPI Elements
No KPI stands alone. It is a part of something “bigger” such
as a process or a part of a strategy. Therefore, the KPI needs
to be put into this specific business context
13

17. Not every KPI must have all 13 elements, but certainly, every element
should have been considered.
At Corporater, we believe that ‘A KPI is more than a number’, and that
is why we enable our customers to use the rich Corporater Business
Management Platform TM to tell their unique KPI story.

18. Read more about KPI
elements here.

19. DELIVERING BETTER BUSINESS OUTCOMES
CORPORATER BUSINESS MANAGEMENT PLATFORM
www.corporater.com