Here are some key points about Key Performance Indicators (KPIs):
- KPIs are quantifiable measures that reflect the critical success factors of an organization. They are used to track performance over time and measure achievement of objectives.
- Effective KPIs are directly linked to an organization's strategy and goals. They should be carefully selected to represent factors that management can influence and that will impact success.
- Common examples of KPIs include financial metrics like revenue, profitability, costs; productivity metrics like units produced per hour or customer service metrics like average handle time. Operational KPIs may track inventory levels, delivery times, quality defects.
- Data on KPIs should be regularly collected and