What are Key Performance Indicators (KPIs) primarily used for?

Key Performance Indicators (KPIs) are metrics that organizations use to assess their progress toward achieving strategic goals and objectives. They provide a quantifiable means of measuring how effectively a company is reaching its long-term targets. KPIs can cover various aspects of performance, including financial results, operational efficiency, and customer satisfaction.

By focusing on strategic objectives, KPIs help organizations establish baselines, set benchmarks, and track improvements over time. This allows leaders and managers to make informed decisions, allocate resources effectively, and implement strategies that align with the overall vision of the organization. KPIs, therefore, are essential tools for ensuring that teams stay on track and maintain alignment with the broader goals of the organization.