It is difficult to measure progress unless it is directly related to a certain amount. Unfortunately, there are areas of business performance that are difficult to quantify. Fortunately, there is a way to measure the “non-monetary” dimensions of performance. Key Performance Indicators help us keep track of how close we are to our goals.

Key Performance Indicators (KPIs) are significantly measurable data used to track performance based on business objectives. KPIs measure the improvement or deterioration of the performance of an activity that plays an important role in the successful operation of a business.

There are several good reasons to use KPI to measure business performance or progress.

• We reduce the number of decisions based solely on instinct and make decisions with objectivity and specific data.
• We quantify the company’s performance by determining, monitoring and measuring according to a standard or goal we have set.
• As the business grows, it becomes more and more difficult to stay close to daily operations, as before
• They allow us to focus on the elements when chaos prevails.