Summary

Key Performance Indicators (KPIs) are tools to measure the performance of specific activities of a company in relation to the achievement of quantitative, strategic, and operational objectives set.

KPI’s are used by companies to:

  • Evaluate their success against the goals they have set
  • Prepare and plan for achieving the final goals
  • Determine the level they are
  • Monitor better performance and regulate in real time the issues that need improvement
  • For higher performance of employees

KPIs are important and necessary for performance management as their purpose is to provide measurements of success (or failure) rather than measurements of unnecessary actions and processes.

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