Turning Your Data into Insights
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Setting Expectations<br />
Each KPI needs a target to provide context, a source of comparison and impetus for action. Targets are<br />
typically informed by past performance and set to reflect overall business objectives for the period.<br />
To enable active performance management, targets for KPIs that measure outputs should be translated<br />
<strong>into</strong> input targets. This requires careful analysis of trends in historical data to predict how inputs lead to<br />
outputs within the business. For example, if past performance shows that 10% of online inquiries lead<br />
to a new customer signing up, the target for responses to online marketing activity should be set at ten<br />
times the number of new customers required. This method of setting targets is illustrated in Case Study 1<br />
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