Key Performance Indicators (KPI) are measures used to evaluate success of organization or to evaluate the success of a particular activity in which it is engaged. Simplified, KPIs help an organization define and reach it’s goals. When an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. KPIs are those measurements. For example, a KPI may be to keep the ratio of costs to income below a certain percentage. Characteristics of KPIs:
- Quantitative: They can be presented in form of numbers.
- Practical: They integrate well with present company processes.
- Directional: They help to determine if a company is getting better.
- Actionable: They can be put into practice to effect desired change.
They differ from business to business, and of course, we can measure them in agriculture industry too.
Why measure KPIs in agriculture?
KPIs for agriculture track feed usage, evaluate production, and monitor costs. Three most important impacts KPIs have on agriculture and its productivity: 1. Increase productivity and profit 2. Save time on your agriculture program 3. Make more informed business decisions It is essential to take more notice on data in agriculture management if you want to make your business more profitable and increase your productivity. Agrivi lets you track all KPIs and gives you insight to exactly where you are, so you can take the right measures to reach your goals. Hereafter you can find some KPIs for agriculture industry and in the next few articles we will present them to you by categories, with detailed explanation of each KPI.