Key performance indicators (KPIs) are visual measures of performance. Based on a specific calculated field, a KPI is designed to help users quickly evaluate the current value and status of a metric against a defined target. The KPI gauges the performance of the value, defined by a Base measure (also known as a calculated field in Power Pivot in Excel 2013), against a Target value, also defined by a measure or by an absolute value. If your model has no measures, see Create a measure.
Create a KPI
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In Data View, click the table that has the measure that will serve as the Base measure. If you have not already created a base measure, see Create a measure.
Make sure the Calculation Area is displayed. If it is not showing, in Power Pivot, click Home> Calculation Area.
The Calculation Area appears beneath the table in which you are currently in.
In the Calculation Area, right-click the calculated field that will serve as the base measure (value), and then click Create KPI.
In Define target value, select from one of the following:
Select Measure, and then select a target measure in the box.
Note: If there are no fields in the box, there are no calculated fields in the model. You need to create a measure.
Select Absolute value, and then type a numerical value.
In Define status thresholds, click and slide the low and high threshold values.
In Select icon style, click an image type.
Click Descriptions, and then type descriptions for KPI, Value, Status, and Target.
Edit a KPI
In the Calculation Area, right-click the measure that serves as the base measure (value) of the KPI, and then click Edit KPI Settings.
Delete a KPI
In the Calculation Area, right-click the measure that serves as the base measure (value) of the KPI, and then click Delete KPI.
Deleting a KPI does not delete the base measure or target measure (if one was defined).
More about KPIs
In business terminology, a KPI is a quantifiable measurement for gauging business objectives. For example, the sales department of an organization might use a KPI to measure monthly gross profit against projected gross profit. The accounting department might measure monthly expenditures against revenue to evaluate costs, and a human resources department might measure quarterly employee turnover. Each is an example of a KPI. Business professionals frequently use KPIs that are grouped together in a business scorecard to obtain a quick and accurate historical summary of business success or to identify trends.
A KPI includes:
Base value
A Base value is defined by a calculated field that resolves to a value. This value, for example, can be created as an aggregate of sales or created to define profit for a given period.
Target value
A Target value is defined by a calculated field that resolves to a value, or by an absolute value. For example, a calculated field could be used as a target value where the business managers of an organization want to compare how the sales department is tracking toward a given quota, where the budget calculated field would represent the target value. An example where an absolute value would be used as a target value could be where the HR manager would like to evaluate each employee’s number of sick-leave days compared to the average, where the average number of sick-leave days represents the absolute value.
Status thresholds
A Status threshold is defined by the range between a low and high threshold. The Status threshold displays with a graphic to help users easily determine the status of the Base value compared to the Target value.
Example
The sales manager at Adventure Works wants to create a PivotTable she can use to quickly display whether or not sales employees are meeting their sales quota for a given period (year). For each sales employee, she wants the PivotTable to display the actual sales amount in dollars, the sales quota amount in dollars, and a simple graphic display showing the status of whether or not each sales employee is below, at, or above their sales quota. She wants to be able to slice the data by year.
To do this, the sales manager chooses to add a Sales KPI to the AdventureWorks workbook. The sales manager will then create a PivotTable with the fields (calculated fields and KPI) and slicers to analyze whether or not the sales force is meeting their quotas.
In Power Pivot, a calculated field on the SalesAmount column in the FactResellerSales table, which gives the actual sales amount in dollars for each sales employee is created. This calculated field will define the Base value of the KPI. The sales manager can select a column and click AutoSum on the Home tab or type a formula in the formula bar.
The Sales calculated field is created with the following formula:
Sales:=Sum(FactResellerSales[SalesAmount])
The SalesAmountQuota column in the FactSalesQuota table has a sales amount quota defined for each employee. The values in this column will serve as the Target calculated field (value) in the KPI.
The SalesAmountQuota calculated field is created with the following formula:
Target SalesAmountQuota:=Sum(FactSalesQuota[SalesAmountQuota])
Note: There is a relationship between the EmployeeKey column in the FactSalesQuota table and the EmployeeKey in the DimEmployees table. This relationship is necessary so that each sales employee in the DimEmployee table is represented in the FactSalesQuota table.
Now that calculated fields have been created to serve as the Base value and Target value of the KPI, the Sales calculated field is extended to a new Sales KPI. In the Sales KPI, the Target SalesAmountQuota calculated field is defined as the Target value. The Status threshold is defined as a range by percentage, the target of which is 100% meaning actual sales defined by the Sales calculated field met the quota amount defined in the Target SalesAmountQuota calculated field. Low and High percentages are defined on the status bar, and a graphic type is selected.
Key Performance Indicators in Power Pivot
The sales manager can now create a PivotTable adding the KPI’s Base value, Target value, and Status to the Values field. The Employees column is added to the RowLabel field, and the CalendarYear column is added as a Slicer.
The sales manager can now quickly view sales status for the sales dept., slice by year the actual sales amount, sales quota amount, and status for each sales employee. She can analyze sales trends over years to determine whether or not she needs to adjust the sales quota for a sales employee.
What is a KPI dashboard?
A Key Performance indicator dashboard collects, groups, organizes and visualizes an organization’s important metrics. In this way, KPI reporting serves multiple purposes within a firm.
But what are KPIs exactly?
KPIs or Key Performance indicators are ways to periodically assess the performance of an organization, business unit, a division or employees. They commonly serve the purpose of being understandable, meaningful, and measurable.
Hence, KPI reporting is ultimately used by different parties to evaluate the effectiveness of a firm at reaching its targets.
But why is a Startup KPI Dashboard useful?
• A KPI dashboard provides a general overview of business performance and expected growth.
• KPI reporting enables organizations to access indicators, which support them in making informed decisions.
• A KPI provides real time information about the performance of a business. This enables them to know how effectively it is achieving business objectives at a given time period.
• KPI dashboards identify problem areas and help teams tackle specific problems. This is given that they are linked to target values, meaning that performance can be assessed.
How are key performance indicators chosen for a given dashboard?
Using the SMART approach. This means that the KPI must:
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- Be Specific: serve a specific purpose for the firm.
- Be Measurable: needs to give a value.
- Be Achievable: the defined norms for the KPI need to achievable.
- Be Relevant: needs to be relevant to the long-term goals of the firm.
- Be Time-Phased: the output should be based on a pre-defined and relevant period.
What are the different types of a KPI Dashboard?
Firstly, it is crucial to differentiate the types of KPIs. There exists high-level KPIs, which focus on the overall performance of the business, while low-level KPIs, focus on department process.
Also, not all key performance indicators are financial. They can also be non-financial meaning that they focus rather on customers and employees; for example, employee turnover.
For this reason, there exists different types of KPI dashboards that depend on the aims of the party utilizing it. A few examples are the following:
- • CEO/Executive KPI dashboard: an aggregated overview of a company’s performance and profitability. This would include sensitive KPIs, that would only be accessible to high-level executives.
- • Project management KPI Dashboard: reflects the performance of employees in a project as well as the performance of the project itself. It is aimed at keeping everyone aware of the achievements and the goals yet to be achieved.
- • Marketing KPI dashboard: reflects the digital marketing metrics of the organization, and provides an overview of the marketing team’s performance
- • Sales KPI dashboard: reflects the performance of the sales department. This helps sales managers visualize how each salesperson performs, how much income can be expected from new deals as well as depicting when marketing campaigns need to be addressed.
You don’t necessarily need to build your own dashboard from step 0. The Eloquens catalogue provides you with both KPI dashboard templates and KPI guides for creating your dashboard, which you can customize to your firm.
Also, if you’d like more information on KPI dashboards and KPI reporting, have a look at the links below:
Employee Kpi Template Excel Download
->What is a Key Performance Indicator? by AP Institute
->Explaining Key Performance Indicators
->What is a KPI Tracking Dashboard?
->What is a KPI? by Investopedia