Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
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'Increasing sales volume' is the ultimate aim of retailers. Therefore, all the available resources are used up in achieving this objective.
However, a means to track the manner in which things have been going on in retail sales area should be structured.
In other words, a monitoring tool for counting the steps and moves taken is required in retail sales sector. This can be in the form of BSC (Balanced Scorecard) that has several useful and relevant metrics listed on it. This strategy came up in 1990s by Norton and Kaplan who realized the power held by 'non-financial' indicators. This paved the way for inclusion of 'non-financial' counterpart in the scorecard in addition to the financial fraction that was relied 'much more than needed'.
The note of caution here is to create an appropriate mix of both the categories of indicators and move ahead with the 'statistical job' of correcting the things and keeping situations under control.
Once this is successfully done, the user form retail sales field can be assured of moving on right and exact path as numbers give strong proof for adopting a particular route or making a given decision.
This is the actual scorecard with Retail Sales Indicators and performance indicators. The performance indicators include: retail sales.
How is this book different from 796 other book titles about KPIs on Amazon?
"Before writing a single line, I formulated some guiding principles, one of them was: "If our clients ask, "How can I find a good KPI for..." - I want this book to provide a perfect answer."