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, an indicator could be defined as the number of website visitors per day and a target metric might be set to between 200 to 250 visitors per day.

Part of this technique includes defining a way to collect the data and reporting on the key performance indicators and metric results.