What are Key Performance Indicators (KPIs)?
A Key Performance Indicator (KPI) is a measure of the performance and progress of an individual or a business in relation to its stated goals or targets. While KPIs are typically quantitative, they may also be qualitative, such as “the quality of customer service received.”
The goal with KPIs is to give businesses a tool to quickly analyze how well their teams are performing against the objectives that were set for them. The most common type of KPIs used by businesses is monetary goals like revenue, profit margin, or cost.