Essential Ratios To Navigate Your Finances

Use these 10 key performance indicators or KPIs to analyse your financial status and monitor the progress toward wealth creation

- Narayan Krishnamurthy

In many ways, we are using data in our dayto-day lives knowingly or otherwise. A lot of our decision-making today is a result of analytical processes based on data that we have shared or consumed. When you are online, social media platforms such as Facebook suggest new friends for you or feeds that are of interest to you. YouTube prompts music and shorts for you based on your history and Google completes a search even before you fully type the word. Shopping and travel have become easy with data being the source of decision-making—you look up a travel site for a destination along with low-cost tickets and hotel bookings in one shot.

Our mind has always looked for patterns to analyse and evaluate the data we use. For instance, it was always ingrained in us to look forward to the end-ofseason sale to buy clothes or make certain purchases closer to festivals to benefit from sale as well as bonuses one would receive during that time. As the Internet of Things evolves, mobile phones have become the goto device for healthcare, fitness, entertainment, travel, and also finances.