SELECTION OF KEY PERFORMANCE INDICATORS OF CHOSEN SLOVAK INDUSTRY WITH THE APPLICATION OF STATISTICAL METHODS

This paper is devoted to the issue of business performance. It is dedicated to more detailed elaboration of performance, performance measurement and key performance indicators. Since in the last period performance measurement of businesses with the use of conventional indicators of financial analysis provides limited information, it is necessary to pay attention to modern performance measurement indicators and to apply statistical methods in their analytical processing. In this paper this problem is solved by the application of correlation matrix constructed for a chosen indicators` group in order to select key performance indicators. Subject for objective fulfilment was a group of businesses operating in the same Slovak industry. The most difficult point of solution was the selection of appropriate inputs for the construction of correlation matrix as well as the collecting of sufficient amount of relevant data to ensure analytically-based outputs. Benefit of this paper is the construction of correlation matrix and selection of key performance indicators for analysed Slovak industry. This group of key indicators allows to influence and measure the performance of given industry and to monitor objectives fulfilment.