ISO 9000 in Plain English. A key performance indicator (KPI) is a metric or measure. KPIs are used to quantify and evaluate organizational success. They measure how much success you’ve had and how much progress you’ve made relative to the objectives you wish to achieve. KPIs are also used to set measurable objectives, evaluate progress, monitor trends, make improvements, and support decision making. KPIs should be quantifiable and appropriate and should collect information that is useful to your organization and relevant to the needs and expectations of interested parties.
Examples of KPIs include the following: average revenue per customer, customer attrition rate, student failure rate, average response time, average delivery time, employee retention rate, return on equity, lost time due to accidents, and energy costs per unit of production. Metadata for Historic Fashion.
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