Dashboards
Key performance indicator (KPI)
A KPI represents a strategic objective and metrics that measure performance against a goal
Balanced Scorecard (BSC)
A performance measurement and management methodology that helps translate an organization's financial, customer, internal process, and learning and growth objectives and targets into a set of actionable initiatives
Business Performance Management (BPM) is...
A real-time system that alerts managers to potential opportunities, impending problems and threats, and then empowers them to react through models and collaboration.
Performance measurement system
A system that assists managers in tracking the implementations of business strategy by comparing actual results against strategic goals and objectives Comprises systematic comparative methods that indicate progress (or lack thereof) against goals
Best practices in Dashboard Design
Benchmark KPIs with Industry Standards, Prioritize and Rank Alerts and Exceptions, Enrich Dashboard with Business-User Comments, resent Information in Three Different Levels, Pick the Right Visual Constructs Provide for Guided Analytics
Operational areas covered by driver KPIs
Customer performance Service performance Sales operation
Outcome KPIs
Lagging indicators-output of past activities e.g. revenues
Scorecards vs. Dashboards: Dashboards
Operational and tactical levels Supervisors and operators use dashboard to monitor detailed operational performance
Scorecards vs. Dashboards: Scorecards
Strategic level Executives use scorecard to monitor strategic objectives and targets
Dashboard design
The fundamental challenge of this is to display all the required information on a single screen, clearly and without distraction, in a manner that can be assimilated quickoy
Management
Type-Detailed operational data Purpose-Identify what actions to resolve a problem
Monitoring
Type-Graphical abstracted data Purpose-Keep Track of key performance metrics
Analysis
Type-Summarized dimensional data Purpose-Summarize data to analyze root causes problems
Performance Dashboards
commonly used in BPM software suites and Bi platforms
Strategy
embody strategy objective
Encodings
enable visual display of performance
Driver KPIs
leading indicators activities that impact outcome KPIs e.g. sales leads
Targets
measure performance against specific targets
Time frames
targets are assigned time frame
Benchmarks
targets are measured against baseline or benchmark
Ranges
targets have performance ranges (above, on, below average)
Dashboards provide
visual display of important information that is consolidated an arranged on a single screen so that information can be digested at a single glance and easily drilled in and further explored