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Trends in Key Performance Indicators (KPIs)

by Steve BogdonTuesday, November 2, 2010

Key Performance Indicator KPIIn November, Dashboard Insight is focusing on key performance indicators (KPIs), the lifeblood of any dashboard system.  We hope to offer a full examination of all aspects related to KPIs - and we're always curious about the kinds of metrics Dashboard Insight readers use and rely on daily.

This month, we'll be seeking answers to questions like: "What type of dashboard component best displays your KPIs?"  We've also been asking: " How have your metrics changed over the years, vis-a-vis modern BI approaches to data?" and " What KPIs are the most popular in your particular industry?"

Obviously, a KPI theme is going to be fairly broad, so join us in November as we try to narrow the focus and show you what's been driving your reports, charts, scorecards and gauges.

12 Steps For Getting Started With KPIs

Before we can throw ourselves into developing corporate-wide performance measurement or KPI (key performance indicator) systems, or get the best return from business intelligence (BI) and dashboard applications, we have to know how to meaningfully measure what matters. And for novices, this means starting small and learning quickly so you build towards a corporate-wide system that will be meaningful and sustainable.

by: Stacey Barr, Stacey Barr Pty Ltd

How to Develop Key Performance Indicators (KPIs)

Erica Olsen explains what metrics to watch within your company and how to use them in your reporting.

by: Erica Olsen, My Stratecic Plan

When it comes to Marketing KPIs Choose the Correct Few

No matter the industry, the biggest challenge businesses face as it relates to potential metrics and measurements to track is that they have too many. There are literally thousands of measurements to track if you choose to. That couldn’t be more true than in the realm of online marketing – especially with the explosion of social media marketing opportunities, tracking online marketing results has become a marketer’s biggest headache. However, there are steps you can take to avoid a marketing scavenger hunt and choose the correct efforts that are most important for marketing success.

by: Wayne Morris, myDIALS Inc.

Using KPIs To Identify Trends In Performance

Organizations are increasingly fascinated with dashboards due to their ability to quickly visualize data in an interactive and appealing manner. As technology becomes easier to interact with, consumer expectations change. No longer are year long analytics implementations acceptable for businesses looking at how they can gain more visibility into their daily operations and better manage their data and overall performance. Now, organizations look at dashboards as a way to gain quick insights into what is happening within their company. The ability to enter into the world of analytics and manage performance through the use of key performance indicators (KPIs) provides an obvious benefit to dashboard adoption.

by: Lyndsay Wise, WiseAnalytics

Balanced Performance Measurement

In the not so distant past, the performance of a Chief Executive Officer and their senior management was judged primarily by the rise or decline of the company’s share price over a medium to long-term time horizon. But times were simpler then. In today’s market high frequency trading, hostile takeovers, green compliance on a global scale and hyper cross-media branding have rendered obsolete the near exclusive reliance on share price as the dominant Key Performance Indicator (KPI) for elite executives. In our present time, a corporation can lose tens of millions of dollars a year while experiencing a steep decline in their share price, and yet the CEO and his/her directors may reap record bonuses and salaries, or be rewarded lucrative golden parachute packages as they bail out of a sinking ship.

by: William Laurent, William Laurent, Inc.

Developing An Effective KPI Plan

This article looks at the general steps an organization should consider when developing their first dashboard or looking to enhance their current metrics initiative. The steps discussed define the overall scope of the project to help ensure success, looking at both short-term and long-term usage, and general data access. This article also looks at dashboard interactivity and designing appropriate metrics and key performance indicators (KPIs).

by: Lyndsay Wise, WiseAnalytics

How To Use Dashboards To Improve Your Budgeting Cycle: KPI’s For Budgeting

Instead of using spreadmarts during the budgeting cycle, there is a new, better solution that provides several valuable benefits to organizations: the performance dashboard for finance and accounting.

by: Michael P. Ziecheck, Visual Mining

Measuring Employee Performance - Consistency And KPD

Many electronic performance dashboards and analytic software packages include a core set of pre-canned key performance indicators (KPIs) that let customers jump start their management reporting objectives. These KPIs are usually quite effective at portraying the most basic measures of employee efficacy and predicting future performance trends. They have to be. With so many business organizations aligning bonuses and salary directly to KPIs, there is much at stake, especially for corporate human resource departments. Relying on the wrong KPIs can stunt employee growth and derail productivity.

by: William Laurent, William Laurent, Inc.

KPIs, Dashboards and Operational Metrics - Doing More With Less

In today’s enterprise, data is stored across many applications and databases, each with a specific business role. Defining the metrics that matter and providing a relevant, compelling view of the data for users within the business, is generally the first hurdle in the adoption and communication of key performance indicators (KPIs) .

by: Terry Brown, Klipfolio

What is a KPI?

A Key Performance Indicator (KPI) is neither a Goal, nor a Key Result Area (KRA), nor a Target, nor a Result nor a Critical Success Factor. And yet these terms are often used interchangeably with a KPI. A KPI defines itself, to a large extent, by its name; it is a performance indicator, i.e. the performance of the process it is measuring should be clearly indicated by the KPI.

by: Kevin Dwyer, Change Factory

How to Develop Key Performance Indicators (KPIs)

Erica Olsen explains what metrics to watch within your company and how to use them in your reporting. For more resources, go to mystrategicplan.com where you'll find articles, videos, blog posts and more.

by: Erica Olsen, MyStrategicPlan

Drivers In The Hotseat

Just as a vehicle without a driver will never reach its destination, a dashboard without ‘Driver’ key performance indicators (KPI’s) will never fulfill its potential to drive meaningful decisions. While an Outcome KPI shows the results being attained, a Driver KPI provides insight into the causes of those results.

by: Adam Landefeld, Corda Technologies Inc.

30 Business Performance Indicators You Can (and should) Measure

It’s all good and well using a BI solution to measure your business performance, but before you start blindly measuring anything and everything, what are some of the specific KPIs or metrics that you could focus on? They are the backbone of scorecards and dashboards, which have become an irresistible way for organizations to present performance information.

by: Kirsty Lee, We Are Cloud

myDIALS KPI Scorecard

In addition to the typical scorecard features that show actual values, budgets / targets and variance for Key Performance Indicators (KPIs), you can also see alerts, notes, zones (stoplight type information), trends and a Micro Chart within myDIALS. Like Interactive Data Tables, any cell can be selected and expanded for more detail. Even the individual points in the Micro Chart can be selected and expanded.

by: Majken Pullin, mydials

5 Time-Saving Tips to Manage Your KPI Data

No, you’re often forced to collect and organise the data you need, all by yourself, and on top of your real job! But don’t give up on measuring performance just for this reason. If you’re still a firm believer that meaningful performance measures make your day job better, then these 5 tips for saving time in managing your performance data may just make the difference.

by: Stacey Barr, Stacey Barr Pty Ltd

Key Performance Indicators & Metrics - Choosing the right data to display

This article will focus on collecting and defining metrics and key performance indicators for executive and operational dashboards. While the techniques discussed here can be used across many different business intelligence requirements gathering efforts, the focus will be collecting and organizing business data into a format for effective dashboard design.

by: Tom Gonzalez

11 Powerful KPI Insights

Fewer and fewer managers are struggling with this premise, that you have to measure performance to manage it. But what they do struggle with is how to do measurement properly. These eleven insights will guide you to improve how you do go about measuring performance.

by: Stacey Barr, Stacey Barr Pty Ltd

The Benefits Of Key Performance Indicators To Businesses

Excellent customer service, employee satisfaction and enthusiasm, and office organization are all desirable characteristics of a company. They are also key performance indicators (KPIs), which are a necessary part of any business aiming for success. KPIs are used by organizations to measure, monitor and manage performance; they allow employers/employees to envision what needs to be done to improve their organization.

by: Joanne Longo, Dundas Data Visualization

What Does 'KPI' Really Mean?

Good grief! It sounds like a performance management shopping list! But even if there were performance management shopping malls around, I’ll bet a lot of people wouldn’t find what they were looking for. And that’s simply because, they don’t really know what all these things actually are!

by: Stacey Barr, Stacey Barr Pty Ltd

Dashboard Insight will be adding Trends in Key Performance Indicators (KPIs) articles all month.

Please check back often.

Key Performance Indicators

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