Small Business KPI Workbook: How to Use Key Performance Indicators to Measure Performance and Make Better Business Decisions
Data analytics helps business owners be more intentional and consistent in tracking and using information they already have to set goals, monitor progress, and make smarter decisions.
While "data analytics" may sound like a term that only applies to large companies or technology-driven businesses, businesses of every size and type generate useful information through normal operations. Examples include sales revenue, customer preferences, popular items or services, busy times of day, or feedback from clients.
MOBI's Data Analytics for Small Business session provides an introduction to data analytics, discusses why it matters, and explains how to use it. By the end of the session, you will be able to identify the data your business already collects, choose three to five meaningful key performance indicators (KPIs) to track, create a simple data-review routine, and use analysis to evaluate information to improve your business.
The session also provides the downloadable MOBI KPI Workbook (Excel) included on this page. Instructions for using this KPI Workbook are below and are included in the file as well.
The MOBI KPI Workbook consists of several different tabs that correspond to different steps of the process. Each tab includes examples indicated by yellow shading. To add your information, fill in the white cells below these yellow example rows. Review your KPIs regularly and update the tracker over time.
Here are the steps to follow in using this KPI Workbook:
| Step | What to Do | Workbook Tab | Helpful Tips |
| 1 | Write your top business goals. | 1 Goals | Start with 3-5 goals. |
| 2 | Choose KPIs that measure progress toward each goal. | 2 Choose KPIs | Choose numbers that are relevant, measurable, actionable, and time-bound. |
| 3 | Decide whether each KPI is leading or lagging. (Visit MOBI's Data Analytics for Small Business session to learn more about each type.) | 3 Leading Lagging | Use both types when possible. |
| 4 | Set realistic targets. | 4 Set Targets | Targets should include a date. |
| 5 | Track results over time and look for trends. | 5 KPI Tracker | Do not react to one number without context. |
| 6 | Record next actions when numbers improve, decline, or stay flat. | 6 Actions | Every KPI should support a decision. |
| 7 & 8 | Create a review schedule and reflect on what changed. |
7 Review Schedule & |
Consistency makes patterns easier to spot. |