The use of big data and analytics technologies has become increasingly popular across industries. Every day, more and more businesses realize the value of analyzing their own performance to boost strategies and achieve their goals. This is no different in the logistics industry, where warehouse managers track a range of KPIs that help them efficiently manage inventory, transportation, employee safety, and order fulfillment, among others.

With the help of the right logistics analytics tools, warehouse managers can track powerful metrics and KPIs and extract trends and patterns to ensure everything is running at its maximum potential. But how do you know which indicators to track?

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Performance tracking has never been easier. With the rise of modern self-service BI tools, everyone can monitor relevant performance indicators in a matter of seconds. But this is not without problems. Having the ability to analyze your data fast and efficiently doesn’t always mean you are doing it correctly. Businesses extract data from several internal and external sources, which makes it difficult but necessary to filter this data and only keep what’s relevant for the company. This is done with the help of KPIs and metrics. 

KPIs and metrics are often considered the same thing in day-to-day business contexts. However, while they work similarly, they are not used for the same purposes. Just memorize this statement for later: all KPIs are metrics but not all metrics are KPIs. That being said, this post will cover the main difference between metrics and KPIs and some examples and tips for efficient performance tracking. 

Let’s kick it off with the answer to the popular question, are metrics and KPIs the same?

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In our cutthroat digital economy, colossal rafts of data are gathered, stored, analyzed, and optimized every minute of every day.  

What do these insights do, exactly? They deliver the best possible experience to customers and partners at every stage of their journey, across every channel or touchpoint. An integral part of business intelligence (BI), inventory metrics are used to help managers and professionals reach (or even surpass) their core goals, optimizing processes and increasing business value in the process.

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With a shocking 2.5 quintillion bytes of data being produced daily and the wide range of online data analysis tools in the market, the use of data and analytics has never been more accessible.

However, with all good things comes many challenges, and businesses often struggle with correctly managing their information. Oftentimes, the data being collected and used is incomplete or damaged, leading to many other issues that can considerably harm the company. Enters data quality management.

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For years, businesses have experimented and narrowed down the most effective measurements for productivity. Productivity can be measured in many different ways and at different levels, from the raw industrial output of an asset in a manufacturing facility to the specific individual sales performance of a vendor. Today, employee output is no longer represented by vague descriptions but by isolated figures that offer insight for improvement in specific areas, which can be found on an HR dashboard.

There are a lot of KPI examples out there to monitor progress and assess productivity. Likewise, there are a lot of guides on how to be productive at work. Each industry, business, and department has tailored its definition of individual productivity that performance indicators can assess. Let’s take a look at our selection of essential metrics you can use to improve your organization’s performance in several areas.

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