Video:What Are Key Performance Indicators?with Laura Lake
Want to learn about key performance indicators and what they mean for goals? Here, see facts about key performance indicators.See Transcript
Transcript:What Are Key Performance Indicators?
What Are Key Performance Indicators?Key Performance Indicators, also known as KPI or Key Success Indicators (KSI), help an organization define and measure progress toward organizational goals.
How to Use Key Performance IndicatorsOnce an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are quantifiable measurements that reflect the critical success factors of an organization. A business may have as one of its Key Performance Indicators the percentage of its income that comes from return customers. A school may focus on graduation rates of its students. Key Performance Indicators usually are long-term considerations. The definition of what they are and how they are measured do not change often. The goals for a particular Key Performance Indicator may change as the organization's goals change, or as it gets closer to achieving a goal.
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