Hi,
The KPI or Key Performance Indicator are the Critical parameters of any industry.
Change in the KPI values may affect the Industry.
e.g.
At shop floor, The Overall Equipment Efficiency is one of the KPI for the plant.
If the value of this KPI (OEE) decreased, that means the machine or equipment is not working properly this problem will reduce the production of the plant.
So entire plant is getting affected due to decrease in KPI value.
Similarly for overall industry; Operating Cost is one of the KPI, since Operating Cost can affect whole Industry.
This is functional significance of KPI.
In Technical point of view, It is outcome of MII; which involves Integration between different systems (i.e. Data acquired from different Data sources) and Shop Floor Systems and the data manipulation (i.e. Intelligence). By this I mean the outcome of different transactions, Querries and Display Templates which we configured to receive required data to formulate the KPI.
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