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As a business owner or C-suite executive, it’s easy to fall into the trap of expecting a single metric to tell you everything you need to know about how well your company is doing. However, this is a mistake. As is assuming that because some numbers are trending in the right direction, everything else will fall into place.

Fortunately, these common key performance indicator (KPI) mistakes and others can be easily fixed once recognized. Take a look at the 8 common mistakes people make with KPIs in business and prep your data for improvements in your company.

Do your sales reps do their own thing? Are you able to develop goals, measure results, and adjust expectations and actions based on data or is it a free-for-all? According to recent studies, only 33% of sales reps’ time is spent actively selling¹, and 40% of their time is looking for someone to call². Add to that the fact that up to 70% of the B2B buyer’s journey is complete before a sales rep is ever involved in the process. It’s no wonder companies are struggling to increase revenue.

In the modern business world, there are certain terms and phrases related to data that are important yet poorly understood because they’re often misused or made to seem overly complex. I’ve clarified the meaning of some of this terminology before, and today I want to talk about one specific adjective that you’ve probably seen countless times on LinkedIn, company websites (including this one), and business publications from Forbes to Fast Company: data-driven.