What are Key Performance Indicators (KPIs)?

Key performance indicators (KPIs) are objective metrics that organizations track over time to determine whether they are achieving their strategic objectives. KPIs measure how well an individual or a team is performing in terms of meeting their goals. Reviewing and evaluating KPIs can then help organizations determine if they are on track to hit their desired objectives. KPIs can even help organizations identify if strategies are working, helping them to develop strategies to improve performance over time. KPIs are then a valuable tool that can help provide your board targets to attain, milestones to gauge progress, and insights that can help you make better strategic decisions.  

Types of KPIs

KPIs come in different forms that each serve a different purpose, with the ultimate goal of helping you meet your objectives. While some KPIs are used to measure monthly progress, others have a more long-term focus. The most common types of KPIs organizations use include:

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