From the course: Building KPIs for Data-Driven Strategy

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Defining goals and objectives

Defining goals and objectives

From the course: Building KPIs for Data-Driven Strategy

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Defining goals and objectives

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- [Narrator] Before you jump in and start working with KPIs, you should establish some goals and objectives. Why? Well, without goals and objectives, why measure things at all? As we've discussed, you're measuring and reporting these key data points for a reason, so we should be sure we understand our reasons. That way, we can be sure to check back against those goals as we develop these ideas and ask ourselves, will this KPI really help me achieve that goal? If so, rock on. Okay, so, how do you do it? Start off big picture. That's where goals come in. So let's say you're focusing on a KPI related to human resources. Specifically, a senior executive is saying there seems to be a problem retaining good employees lately. So your goal might be along the lines of identify and quantify any employee retention issues, including their reasons. That's a nice, broad goal. Now we need some objectives to help us achieve that goal. And what's the difference between goals and objectives? A goal is…

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