KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions. From finance and HR to marketing and sales, key performance indicators help every area of the business move forward at the strategic level. As you work on this week’s assignment, you need to consider the following key points concerning KPIs.
In your original post, address the following points:
- Outline which metrics will indicate that you are successfully pursuing your vision and strategy.
- Explain how many metrics you should have and what you should use as a benchmark.
- Consider how the metrics could be cheated, and how will you guard against this.