In reporting, how is a KPI (Key Performance Indicator) different from a standard metric?
- KPIs are only relevant to financial reporting, while metrics are used in various domains.
- KPIs are strategic, focusing on critical business objectives, while metrics are more general measurements.
- Metrics are qualitative, while KPIs are quantitative.
- Metrics are short-term goals, while KPIs are long-term objectives.
KPIs are specific metrics that are crucial for measuring progress toward strategic business objectives. While metrics can cover a wide range of measurements, KPIs are more focused on key strategic goals and are vital for assessing overall performance.
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