The Problem With Key Performance Indicators (KPIs)? NARRATOR: We all want to take our business on a journey to success. To help us navigate and make the right decisions along the way, we need information instruments. The most important of these are known as key performance indicators. But which KPIs are key for our journey? Many businesses have gone into space before, and there are lots of navigation instruments and metrics available that we could use. With so much information at our fingertips, we should be able to make decisions with confidence and accuracy. But in reality, the results of all this information can be very different. With so much information available, we can lose sight of the key information we need. At the time when we should shoot to success, all too many businesses are missing their landing. [MUSIC PLAYING] It's not that there's no data. There's lots of it available. The problem is that in many cases, we don't have the right KPIs. Our research shows that less than 10% of all management information circulated actually informs decision making. 90% is wasted. Finding the right KPIs should start with your business goals. If companies map out their strategy and then develop the key performance questions they need to have an answer to, they will be guided to the right key performance indicators. At the Advanced Performance Institute, we help customers identify and develop the most relevant and meaningful indicators, so they can steer their mission to success. [MUSIC PLAYING]