Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs) are metrics that measure the success of a product or service based on specific goals and objectives. KPIs help businesses track their progress toward achieving their targets and identify areas that require improvement.
When to use
KPIs are used throughout the product development lifecycle to measure the success of a product or service against predetermined goals and objectives. They are useful for identifying areas that require improvement and making data-driven decisions.
Pros
- KPIs provide a quantitative and objective measure of the success of a product or service.
- They help businesses track their progress toward achieving their targets and goals.
- KPIs are useful for identifying areas that require improvement and making data-driven decisions.
- They can be easily communicated to stakeholders and team members.
Cons
- KPIs can be limited in their ability to provide insights into the underlying reasons for success or failure.
- They may not be able to capture the subjective experiences and emotions of users.
- The selection of KPIs may be subjective and depend on the goals and objectives of the business.
Learn more in the User Research: Comprehensive Guide article.