Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization or a particular activity. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making, and help focus attention on what matters most. Here are some key characteristics of KPIs:

• Quantifiable: KPIs are measurable and have a numerical value that can be tracked over time.

• Objective: KPIs are based on data and facts, not opinions or subjective judgments.

• Aligned with goals: KPIs are directly tied to the goals and objectives of the organization.

• Understandable: KPIs are defined in a way that is easy to understand and meaningful to stakeholders.

• Measurable: KPIs are defined in a way that can be measured and tracked over time.

• Cascaded: KPIs are set at a senior level within an organization and cascaded through all levels of management.

• Linked to targets: KPIs are linked to target values, so that the value of the measure can be assessed as meeting expectations or not.

KPIs can be financial or non-financial measures of a companys performance, and they can track efficiency, effectiveness, quality, timeliness, governance, compliance, behaviors, economics, project performance, personnel performance, or resource utilization. Examples of KPIs include customer satisfaction, employee turnover rate, revenue growth, and net promoter score. It is important to continually review KPIs and their performance on a predefined reporting frequency to ensure they are still relevant and effective. The right KPIs for an organization may not be the right KPIs for another organization, so it is important to research and determine which KPIs are appropriate for the industry and goals of the organization.