What are Key Performance Indicators? Why do they Matter to your Business?

Harvard Business School professor Dr. Eliyahu Goldratt coined Key Performance Indicators (KPIs). KPIs are a set of key measurements that are used to gauge how well an organization is performing.

KPIs help managers understand how their team or organization is doing and where they can improve. They also help to make the company more efficient and profitable by identifying areas that need improvement.