Key Results are the measurable outcomes that indicate whether an Objective has been achieved. They quantify progress and make it objectively verifiable. At the end of the quarter, it must be clear: achieved or not achieved. Three to five Key Results per Objective is the standard recommendation, because too many dilute focus and too few fail to capture goal achievement adequately.
The critical distinction is between outcome and output. A good Key Result describes an effect, not an activity. “Raise NPS from 40 to 55” is an outcome because it measures a change in customer perception. “Improve feedback process” is vague and not verifiable. “Conduct ten customer interviews” is an output because it describes an activity, not a result. The skill lies in formulating Key Results that direct the team toward impact while leaving them the freedom to choose their own path to get there.
The concept goes back to Andy Grove at Intel. Key Results should be ambitious but not unrealistic, so they motivate rather than discourage.