KPIs are quantifiable measures that help organizations track progress towards important objectives over time. They provide targets for teams, measure milestones, and offer insights to help organizations make better decisions. Developing the right KPIs is important to ensure teams are aligned, the health of the organization can be assessed, and adjustments can be made based on successes and failures. When creating KPIs, they should be tied to strategic goals, follow the SMART criteria, be clear for all to understand, and avoid having too many. The objectives of KPIs are to evidence progress, measure the intended metrics, compare performance over time, track all progress, assess employee performance, encourage learning, and promote accountability.