What is KPI in SAP PLM-INM - Innovation Management?

SAP Term: KPI

• Component: PLM-INM

• Component Name: Innovation Management

• Description: Financial and non-financial measures or metrics used to help an organization define and evaluate its success, typically in terms of making progress towards its long-term organizational goals. KPIs are critical metrics that measure actual performance against predefined goals and objectives.

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• Key Concepts: 
  KPI stands for Key Performance Indicator. It is a metric used to measure the performance of a process or activity within an organization. In the context of SAP PLM-INM Innovation Management, KPIs are used to measure the performance of innovation initiatives and projects. They can be used to track progress, identify areas for improvement, and measure the success of innovation initiatives. 
  
  How to use it: 
  KPIs can be used to track progress on innovation initiatives and projects. They can be used to measure the success of an initiative or project, identify areas for improvement, and provide feedback on how well the initiative or project is performing. KPIs can also be used to compare different initiatives or projects and determine which ones are performing better than others. 
  
  Tips & Tricks: 
  When setting up KPIs for an innovation initiative or project, it is important to ensure that they are relevant and meaningful. It is also important to ensure that they are measurable and actionable. Additionally, it is important to ensure that the KPIs are regularly monitored and updated as needed. 
  
  Related Information: 
  For more information on KPIs in SAP PLM-INM Innovation Management, please refer to the SAP Help Portal (https://help.sap.com/viewer/product/PLM_INNOVATION_MANAGEMENT/7.0/en-US). Additionally, there are many resources available online that provide more information on KPIs and how they can be used in different contexts.