KPI Karta revolutionizes KPI tracking with color-coded maps, guiding users to create more meaningful metrics for business success.
TORONTO, April 29, 2023 /PRNewswire-PRWeb/ — KPI Karta, a technology start-up specializing in business performance management, announced today the launch of a new service that revolutionizes the way firms track and manage their Key Performance Indicators (KPIs). The service, which is available through a monthly subscription, offers a unique approach to KPI management that combines data visualization with a methodology designed to create more meaningful KPIs.
Most firms measure success by tracking KPIs, but many have found that the KPIs they use have become stale and disconnected from the work they do. According to a study by MIT Sloan, only 28% of CEOs understood what their KPIs were telling them. This is because KPIs are often selected from a list or recycled from past performance metrics, without being directly connected to the work being done.
KPI Karta’s new service takes a completely different approach by identifying and mapping out important actions and activities in a color-coded hierarchical map to illustrate how they align with established goals. This process, which embodies a methodology developed by Unilytics over the past 12 years, allows users to see how well their team is performing and identify areas that need improvement. Managers and consultants can also use the maps to show how and why certain business strategies are being recommended.
Peder Enhorning, KPI Karta’s Founder and CEO, explained the reasoning behind the new service, saying, “We created the KPI Karta methodology because we discovered that clients had a difficult time identifying effective KPIs. Often KPIs are poorly chosen, often from a top-10 list, producing numbers that no one understands or that aren’t very useful… they mostly tell you what happened but never why.” He added, “Because every organization’s needs are unique, KPI Karta guides users to create more meaningful KPIs that people buy into.”
Jim Sterne, Co-founder and Chairman of the Digital Analytics Association, praised the new service, saying, “Brilliant! This is exactly what is needed. Everyone should be using KPI Karta!”
While many dashboarding tools exist that report on organizational metrics and KPIs, they only report on how an organization is performing but not why. KPI Karta’s value proposition is different in that it helps clients figure out what their KPIs should be and provides insight into why certain metrics are important. The maps that are created show how there is a direct link between daily activities and the goals of the organization.
KPI Karta’s monthly subscription service is available at different price points for those needing to build hierarchical maps and for staff needing to update their KPI values. Additionally, a free viewer is available for executives and others who wish to stay informed about corporate progress and performance.
“KPIs are poorly chosen, often from a top-10 list, producing numbers that no one understands or that aren’t very useful… they mostly tell you what happened but, never why.” – Peder Enhorning, KPI Karta Founder and CEO
SOURCE KPI Karta