Key Performance Indicator (KPI)
Pronounced: kee per-FOR-muhns IN-di-kay-ter
Definition (in the context of Business Awards):
A Key Performance Indicator, or KPI, is a measurable value that demonstrates how effectively a company, individual, or team is achieving key objectives. In Business Awards entries, KPIs are often used as supporting evidence to show impact, results, and success in the nominated category.
Example usage:
“The Business Awards entry highlighted a 40% increase in customer satisfaction as a key performance indicator.”