What term is commonly used for a measure of performance generated in real-time?

The term that is commonly used for a measure of performance generated in real-time is indeed Key Performance Indicator (KPI). KPIs are quantifiable measures that organizations use to gauge their performance against their strategic goals and objectives. They are essential for assessing how well an organization is achieving its key business objectives and are often tracked in real-time to provide instant insight into performance levels.

While performance indicators provide metrics about performance, they are typically broader and may not always emphasize the real-time aspect. Effectiveness measures generally assess how well a service or procedure meets intended outcomes but may not specifically focus on immediate performance tracking. Operational standards define expected levels of service or performance but do not inherently provide a real-time measurement. Thus, Key Performance Indicators stand out as the favored term in this context because they are both specific and applicable to ongoing performance assessment in organizational settings.