Key Performance Indicators (KPIs)

Key performance indicators (KPIs) are metrics that are used to evaluate the performance of an organization or individual. They are used to measure progress towards achieving specific goals or objectives and to determine whether an organization or individual is meeting their targets.

There are many different types of KPIs that can be used, depending on the specific goals and objectives of an organization or individual. Some common examples include:

  • Financial KPIs: These measure financial performance, such as revenue, profit, cost of goods sold, and return on investment (ROI).

  • Customer KPIs: These measure how well an organization is serving its customers, such as customer satisfaction, customer retention rate, and customer lifetime value.

  • Internal process KPIs: These measure the efficiency and effectiveness of internal processes, such as cycle time, error rate, and productivity.

  • Learning and growth KPIs: These measure progress towards developing skills and capabilities, such as training completion rate, employee retention rate, and employee engagement.

It's important to carefully select and track KPIs that are relevant and meaningful to the goals and objectives of an organization or individual. By regularly monitoring and reviewing KPIs, organizations and individuals can identify areas for improvement and make changes to better achieve their goals.