Why are KPIs important?

Key Performance Indicators (KPIs) are important because they allow a company to quickly and easily assess how the company is performing concerning specific strategic goals. Examples of KPIs are customer retention or targeted customers per month. KPI reports then record the successes and information of each of these key performance indicators.

KPIs are extremely beneficial in helping a business decrease information overload, as they can specifically look at manageable targets, rather than abstract ideas. This saves time, but it also offers critical insight and helps to guide management in making and keeping goals.