What are KPIs and how do they impact performance management?
KPIs, or Key Performance Indicators, are measurable values that demonstrate how effectively a company is achieving key business objectives.
Can you give me some examples of common KPIs?
Sure! Common KPIs include customer satisfaction scores, net profit margin, and employee turnover rate.
How often should KPIs be reviewed?
KPIs should be reviewed regularly, typically quarterly or annually, to ensure they align with business goals and adapt to changes.
What role does data play in performance management?
Data is crucial in performance management as it provides insights into KPI performance, helping organizations make informed decisions.
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