Do you know the difference between velocity and speed? Both parameters measure movement over time, but there’s an important difference. Velocity is a vector quantity, i.e. it has a magnitude and a direction. Speed is a scalar quantity, i.e. it has only magnitude.
This is a good metaphor for business and life. Velocity is far more important than speed, since progress has to be made in the right direction. You may be running very fast, but if the direction is wrong, the movement is pointless (or sometimes, even detrimental).
In other words,
Effectiveness > efficiency.
Productivity > Busyness.
Directed progress > more urgency.
Velocity > Speed.