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Archive for January, 2012

Business Strategy: Types of Metrics

Wednesday, January 4th, 2012 by Troy Schrock

There are many different types of metrics (key performance indicators, or KPIs) that can be used to gauge progress or relative position.  In addition to the four domain areas for balanced measures, here is a list of metric types that your strategic metrics should include:

  • Leading (advance alerts)
  • Lagging (results of past decisions)
  • Internal
  • External
  • Quantitative
  • Qualitative

Though it is common to equate metrics with financial results, most metrics will not be money-based.  There are many key processes and activities that make good KPIs.