What is a KPI
A Key Performance Indicator is a specific measurement of a company’s performance in some areas of its business. It enables you to define and control precise targets. Its purpose is to help you to reach quantifiable aims by assessing specific missions.
Why should I care about KPIs?
The KPIs are particularly useful for a long-term management, where you will be able to monitor operational efficiencies. One other advantage is that it offers you the opportunity to clearly view which area of your company is powerful, while you will also be able to track and modify the weak areas which will need some improvements.
How can I set KPIs?
Steps towards an effective KPI management:
- Involve the right people in the process. This team will define the priorities of your company.
- Create strategic targets for each area of your organization. These departments could be Finance, Marketing, Operations, Communication, etc.
- Assess quantifiable goals for each target . Do not decide to decrease your fuel consumption , but set to diminish your fuel bills by 10% in the next 3 months. It is crucial that every team member has the same gauge to reach its goal.
These KPIs need to be organized in a report which will be a roadmap for employees meetings. This tool will enable you to keep your strategy in the right direction.
Altair KPI vehicle reports
Informed management decisions that positively affect the performance of your business are about having correct and accurate information.
Altair KPI vehicle reports are generated from data that is continually being collected and transmitted from the vehicle tracking and engine management system of the vehicle. These parameters include vehicle position, acceleration, braking, gear selected, fuel consumption, information about the driver and whether the vehicle is being driven green
Drivers are associated with the vehicle they are driving and the reports detail in tabular and graphical format key performance parameters about the way the vehicles are being driven throughout their daily operation. One example is the speed-chart which clearifies how fast a vehicle was driven at different points of times. The reports are exportable to PDF and Excel format and can be run either in summary or detailed views.