Explanation
A key performance indicator (KPI) is a quantifiable measure of performance over time for a specific objective1. KPIs help organizations and teams track their progress and achievements towards their strategic goals. To be useful, a KPI must have a target value, which is the desired level of performance or outcome that the organization or team aims to achieve. A target value provides a clear direction and a benchmark for measuring success or failure. Without a target value, a KPI is meaningless, as it does not indicate whether the performance is good or bad, or how far or close the organization or team is from reaching their objective.