Key performance indicators (KPI),
Definition of Key performance indicators (KPI):
Key business statistics such as number of new orders, cash collection efficiency, and return on investment (ROI), which measure a firms performance in critical areas. KPIs show the progress (or lack of it) toward realizing the firms objectives or strategic plans by monitoring activities which (if not properly performed) would likely cause severe losses or outright failure.
How to use Key performance indicators (KPI) in a sentence?
- The key performance indicators were really important to us in determining certain factors that were essential to our growth as a business.
- For a small, locally-owned restaurant, key performance indicators would include any descrepencies between inventory and sales, the number of returning customers, and the amount of food that spoils before it is sold.
- You should be checking out your key performance indicators to see if things are going as well as they should be.
Meaning of Key performance indicators (KPI) & Key performance indicators (KPI) Definition