In hospitals, for example, KPIs might be figures like the percentage of patients seen within a particular time frame, or the amount of people screened for a particular condition. Though originating in the business domain, the concept of the KPI is increasingly appearing in other spheres of life too, such as health services and education. These are just a few among the many examples of how the measurements of achievement reflected in business KPIs can vary just as much as the way success is evaluated in everyday life. In IT, a KPI may equate to 'uptime' (the amount of time computer systems are available and working). In manufacturing, KPIs could relate to the efficiency of processes and product output. In marketing or advertising for instance, a KPI might be reflected in the number of new customers acquired. The crucial thing about a KPI, however, is its dependence on what's identified as being important for an organization, which can of course vary greatly between one line of business and another and doesn't always directly concern money. This success is typically defined as the progress an organization is making towards achieving its overall, strategic goals, so that if for instance a company's aim is 'to be the most profitable in the industry', then KPIs will be measurements like 'pre-tax profit' and other financial parameters. The abbreviation KPI stands for key performance indicator, and is a measurement a business or other organization uses to evaluate its success (correspondingly sometimes also referred to as a KSI or key success indicator, though this isn't quite as common). The crucial thing about a KPI … is its dependence on what's identified as being important for an organization, which can of course vary greatly between one line of business and another and doesn't always directly concern money In the world of business, there's a new abbreviation bouncing around which is all about the issue of success and how to quantify it in a meaningful and useful way: KPI. The desire to be 'successful' in life is something that, in humans, is hard-wired from birth, though the precise definition of success can of course mean very different things for different people.
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