Key Performance Indicators define a set of values used to measure against. These raw sets of values fed to systems to summarize information against are called indicators. Indicators identifiable as possible candidates for KPIs can be summarized into the following sub-categories:
* Quantitative indicators which can be presented as a number.
* Practical indicators that interface with existing company processes.
* Directional indicators specifying whether an organization is getting better or not.
* Actionable indicators are sufficiently in an organization's control to effect change.
* Financial indicators used in performance measurement and when looking at an operating index
Key Performance Indicators in practical terms and strategy development means are objectives to be targeted that will add the value to the business most (most = KEY INDICATORS OF SUCCESS).
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