What are Key Performance Indicators (KPIs)? Why do they Matter to your Business?

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What are Key Performance Indicators?

KPIs are a set of key measurements that are used to gauge how well an organization is performing. Their purpose is to help a company evaluate progress and success at reaching specific targets. There’s a lot of different KPIs that businesses can track. Remember that you should only monitor those KPIs that make sense to your business.


Why do they Matter to your Business?

KPIs help managers understand how their team or organization is doing by measuring success in reaching certain objectives over a period of time. KPIs help identify areas that need improvement, which allows companies to allocate time and resources effectively.






Sources:

https://websitestore.nyc/2022/09/what-are-key-performance-indicators-why-do-they-matter-to-your-business/

https://www.oberlo.com/ecommerce-wiki/key-performance-indicator-kpi

https://www.flock-associates.com/thinking/best-kpis-practice/


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