by Donald Wooten
Key Performance Indicators (KPIs) are the bread and butter of digital analytics. With all of this useful information available to us through website and social media analytics it's easy to get lost in numbers, graphs, and charts. But all of that information is useless if we don't have any specific goals in mind. A KPI is a metric that we choose to specifically track and measure in order to determine if whatever we're doing with our business is useful or successful.
For instance, it's easy to look at Google Analytics and say, "Hey! 73 percent of our website is on mobile devices! 34 percent of our users are female! Our bounce rate is extremely high on desktops!"
This information is useless unless the goals we are trying to achieve are relevant. Knowing that a large share of website traffic is on mobile, and that our bounce rate is high on desktops could become KPIs if we were trying to expand our engagement with desktop users, or determining if an advertisement is working. If our goal is to engage with more female consumers, the number of female users going up or down would be a KPI.
The point is don't try to track everything. Determine what your business objectives are, develop goals to achieve that objective, then determine which metrics you should be tracking.
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