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A Good KPI Report Enables Business Organisations To Reach Business Goals
Key performance indicators or KPIs are quantifiable, measurable values that help measure the performance of a business. KPIs enable business owners to analyse the current performance compared to the past ones. Businesses can use both high-level and low-level KPIs to gauge overall progress. The high-level KPIs provide insights regarding the overall business performance, whereas low-level KPIs are used for individual departments like accounting, sales and marketing, human resources, etc. Business owners can choose to improve every area of the organisation and move forward. However, businesses often get confused between KPIs and metrics. The senior executives at Whiz clarified, "Key performance indicators impact the strategic business outcomes whereas metrics are responsible for measures used to support the KPIs".
The senior officials at Whiz also discussed certain points to highlight the importance of KPIs. The biggest reasons to understand the need for key performance indicators are stated below: