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25 Need-To-Know Key Performance Indicators by Bernard Marr

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Glossary of terms

Analytics The collection and analysis of data to generate insights that inform fact-based decision making.

Appraisal system A structured process to evaluate employee performance, usually performed once or twice a year.

Balanced scorecard (BSC) A BSC is a strategy execution tool that, at the most basic level, helps companies to:

  • clarify strategy – articulate and communicate their business priorities and objectives across four perspectives
  • monitor progress – measure to what extent the priorities and strategic objectives are being delivered
  • define and manage action plans – ensure activities and initiatives are in place to deliver the priorities and strategic objectives.

A balanced scorecard consists of:

  • a strategy map
  • key performance ...

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