Key Performance Indicators

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Key Performance Indicators
Key performance indicators (KPIs) measures how efficient and effective a business achieves its set objectives and goals (Gerber 1). It seeks to inform the business owners on whether or not their ventures are in the right track. Fortunately, today, there are various performance measurement software tools that are designed in a manner that would allow their usage even in small or upcoming business venture. Some of these software tools include among others Gecko board, Salesforce, Grow, Tableau, and Olation.
Gecko board makes use of Hubspot and Google Analytics to give a visual presentation of the progress of all the business’ key performance indicators. Salesforce helps business owners to keep records of every vital element of their businesses including the employees as the software allows for the creation of personal dashboards (Gerber 1). Grow is more of a professional performance measurement tool. It is easy to use and understand, and it allows for hooking into QuickBooks, Facebook, AdWords, Google analytics among others and thus assisting in the creation of a simple dashboard the everybody can understand. Other tools include Tableau and Olation. Notably, I recommend the above performance software tools as they accommodate small and medium businesses and are also widely used. Moreover, they accommodate other tools used in analysis such as Google Analytics.
For an upcoming restaurant, I would recommend Grow and Gecko board.

The reason for my recommendation is that both tools not accommodate small and medium businesses, they are also easy to use. Moreover, Grow has a professional presentation that can be a good reference point especially for the outsiders. There are different ways in which my case study business, an upcoming restaurant can get to use KPIs in the evaluation of its effectiveness and efficiency in meeting tactical goals. However, the primary means is through comparing the previous KPIs with the current ones and subsequently getting to determine where there is progress, stagnation or decline in the firm’s performance.

Work Cited
Gerber, Scott. “14 Tools to Track KPIs For Your Business – Business.Com”. Business.Com, 2017, https://www.business.com/articles/14-tools-to-track-key-performance-indicators-for-your-business/. Accessed 27 Nov 2018.