The term "metric" refers to the quantifiable levels of an indicator that is used to measure progress, whereas the term "indicator" identifies a specific numerical measurement that shows the degree of progress toward achieving a specific goal or outcome:
- A KPI is an indicator that measures progress toward a strategic goal.
- An indicator shows the result of a measure used to address specific concerns about needs, value, output, or activities. A well-formulated indicator demonstrates six characteristics—clear, relevant, economically useful, adequate, quantifiable, and credible.
- A metric—or rather, a target metric—is an objective that should be reached within a specified timeframe. For example, ...