What is Key Performance Indicator (KPI)?

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A KPI is a quantifiable metric used to evaluate the performance and success of a company, project, team or activity in relation to established objectives and goals.

These indicators show whether you are achieving your strategic objectives or not, and are a tool that allows you to accurately determine the success or failure of your online store.

Let's take the billing of the month as an example, where objectives sweden phone number list set in advance, and by reviewing the results, we can know the degree of compliance with these.

We can say that KPIs are data that can be quantified and are linked to specific goals and periods and allow you to measure the success of your eCommerce strategy. So the function of KPIs is to show what is working and what needs to be improved.

To speak of a KPI as such, this value must meet a series of requirements that are classified as SMART :

Specific : These should be clear, avoiding ambiguity. They answer the questions: what should be achieved? Why is it important? Who is involved?

Measurable (Measure) : They must be quantifiable and evaluable. They answer the question: how will progress or success be measured?

Achievable : These goals must be realistic and achievable with the resources available. They answer the question: is it possible to achieve it with the available resources?

Relevant : These should be notable and aligned with the overall goals of the organization or project. They answer the question: is it relevant to the broader goals?

Time-bound : These objectives must have a specific deadline or time period for their completion. They answer the question: in what time frame should they be achieved?