Corporate analysts work with a wide array of performance objectives, and many analysts produce periodic reports to show the status of certain key performance measures. Though key performance objectives vary considerably from organization to organization, and some departments set their own internal goals, a few key performance objectives appear throughout numerous industries.
Organizations in the business of repairing broken equipment or resolving service interruptions, according to the human resources firm HRVinet, often measure their performance in terms of Mean Time to Repair or MTTR. Depending on the specific product or service, organizations may measure MTTR in hours, minutes, seconds or even days. Executive or departmental leadership may set Mean Time to Repair objectives based on a number of performance factors, and managers may need to shift troubleshooting resources to meet aggressive MTTR goals.
Call centers and other business entities that handle a large volume of incoming customer calls measure their performance using a number of call center statistics. The Average Speed of Answer, or ASA, is among the most common call center metrics, and this measurement represents how long customers waited on hold before speaking with a representative. Some call centers may set the ASA objective based on previous performance or aggressive self-imposed goals, but call centers under the eye of state regulatory bodies may have to keep the Average Speed of Answer under a mandated maximum.
Production- and manufacturing-oriented organizations know that products they produce will eventually fail. By enacting quality control measures and ensuring adherence to documented procedures, these organizations can control their Mean Time Before Failure, or MTBF. Analysts in manufacturing organizations often collect data on the length of time a device remained in service before it failed, and organizational leadership can use these data to set MTBF performance objectives.
Just as manufacturing and production agencies can set and manage toward MTBF objectives, businesses that manufacture products can set goals on how much they spend to produce those items. Known as Production Cost, this key performance objective describes the total cost—including materials, labor and overhead—of each item the factory produces. By reducing expenses, managers can drive down production costs to meet aggressive production cost goals.
Offices concerned with selling products or services often produce myriad performance metrics on sales employees. Figures like speed of response, average turnover, cost to gain new business and cost per sale account for just a few key sales performance objectives, according to HRVinet, but many offices focus on the total sales revenue. A major sales power may consistently produce very high sales revenue, and departments with multiple superstars may produce higher revenue than their competitors. Managers can increase sales revenue objectives by raising quotas and requiring more customer contact, but sales revenue represents only a small portion of available sales metrics.
- business line graph image by Nicemonkey from Fotolia.com