#180: Tactical Tuesday: Using KPIs to Measure Business Success

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast discusses digital analytics and the role of key performance indicators (KPIs). He defines these two terms and how they impact a company’s bottom line. He also highlights three categories for selecting the right KPIs to track business success.     </span></p> <p> </p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li><span style="font-weight: 400;">Digital analytics is the collection and analysis of information about a business.</span></li> <li><span style="font-weight: 400;">KPIs demonstrate if you and your business are moving in the right direction. They provide a measurable value for accomplishing your key business objectives. </span></li> <li><span style="font-weight: 400;">There are three categories to consider when it comes to setting up KPIs. These include increasing revenue, decreasing costs and increasing satisfaction.</span></li> <li><span style="font-weight: 400;">Increasing revenue is impacted by the number of leads and qualified traffic on your website. You can boost revenue by upping the number of orders or increasing product price. </span></li> <li><span style="font-weight: 400;">Reducing costs means reducing expenses, minimizing process complexity and decreasing the time it takes to deliver your product or service.</span></li> <li><span style="font-weight: 400;">Increasing satisfaction is achieved through increasing stakeholder engagement, including customers, investors, employees and partners. </span></li> <li><span style="font-weight: 400;">According to cognitive psychologist George Miller, an average person can track and remember up to five - plus or minus two - elements. Therefore, consider starting with three KPIs to get started. </span></li> </ul> <p> </p> <p><strong>3 KEY POINTS:</strong></p> <ol> <li><span style="font-weight