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Key Performance Indicators (KPIs) are measurable values used to evaluate the success or progress of an organization, department, team, project, or individual in achieving specific goals or objectives. KPIs are typically quantifiable metrics that are aligned with the strategic priorities and business objectives of an organization, and they help to monitor and improve performance over time.
KPIs can be used across different functions and levels of an organization, and they can vary depending on the industry, company size, and specific goals. Some common examples of KPIs include revenue growth, customer satisfaction, employee turnover rate, website traffic, sales conversion rate, and cost per acquisition.
To be effective, KPIs should be specific, measurable, achievable, relevant, and time-bound. They should also be regularly monitored and analyzed to identify areas for improvement and inform strategic decision-making.