What does the acronym "KPI" refer to in customer service?

The acronym "KPI" stands for Key Performance Indicator. In the context of customer service, KPIs are measurable values that demonstrate how effectively a company is achieving key business objectives. These indicators are critical for assessing performance and making informed decisions. By evaluating KPIs, customer service teams can identify areas for improvement, track progress toward goals, and enhance the overall customer experience. Common examples of KPIs in customer service include response time, customer satisfaction ratings, and resolution rates, which all help gauge the success of service strategies and operations.