Designing
Effective KPI Dashboards- kpi dashboards
In this post, you can ref free useful materials
about kpi dashboards and other materials for kpi dashboards such as kpi tips,
kpi mistakes, kpi examples, kpi templates, kpi dashboard, kpi form, how to
create kpi/performance metrics
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KPI guides
Before we get into the “what and how” of KPI Dashboard
Design, there are some overarching guiding principles to consider for
identifying what metrics you need, how you want to view them, and more
importantly, how to develop and support them:
- Start with what you know. Don’t get
visions of grandeur or mesmerized by “consultant speak” with the mythical
360-degree view of the customer if your organization is currently not
equipped to support the vision (or some semblance thereof). Work with the
data you have in your current environment as a baseline; plan accordingly,
and enhance capabilities at your own speed – in other words, with what
your budgets, resources and technology capabilities will allow. In many
cases, you may already have all the data available and just need a modest
investment to yield significant results. Quick wins could come in the form
of a data strategy, an analytic sandbox environment, a predictive model,
or a data visualization/reporting tool to derive and serve up your ideal
metrics.
- Reality Check – understand where you are and be honest with yourself. Start with a data and technology assessment to fully understand your
data availability, enabling infrastructure, capabilities, processes,
integration points, linkages, gaps and limitations that could impact KPI
dashboard design, development and ongoing support.
- Avoid the “old school, traditional discovery phase”. You don’t have to wait to conduct a “traditional discovery phase”
before you move forward with designing your dashboards. Actually, we find
it extremely effective to mock up your “end state KPI dashboard” at the
onset of a project and leverage it as a collaborative tool to facilitate
discussions, identify KPIs, validate requirements, determine gaps and
develop an action plan. You might not be able to measure everything at the
onset, but it gives you a set of goals to achieve.
- Focused and targeted wins the race. Avoid
analysis paralysis by identifying and prioritizing KPIs, views, dimensions
and filtering attributes that only provide tangible, actionable and
measurable value.
- Sometimes a box of crayons is just what you need. Do not over-complicate or over-architect dashboard designs –
simplicity is a good thing. Whatever your design, make sure it is
sustainable, repeatable and scalable for the long haul.
- Think hierarchy. Understand the
organizing principles of your data at the plan, program, campaign and
delivery levels as well as implications to workflow and processes. This is
a key success factor for organizing your data into a systematic directory
structure to aid in data collection and management, matching,
aggregations, filtering and calculation efforts for analytic and reporting
purposes.
- With hierarchy, comes metadata. In
conjunction with your data dictionary and organizing principles, leverage
metadata functionality in your current systems (e.g., CMS, Marketing
Automation, ESP) to enhance and expand your data set with campaign and
delivery attributes to further support your analytic and reporting
efforts.
- It isn’t just about you. No longer
can marketing, IT, product and other groups be at odds with project
ownership and decision making. It is imperative to work collaboratively
across different groups to support required cross-functional impact and
integration efforts. All relevant stakeholders should be part of the
planning process throughout the entire effort, rather than “intermediately
engaged when convenient”, especially given the fact that you are probably
reliant on other groups to support certain aspects of KPI Dashboard
development.
- You can’t always get what you want. The
Rolling Stones knew it, now it’s your turn. You might not be able to get
exactly what you want; sometimes you have the let the data dictate the
prioritization of your customer intelligence efforts.
- Manual Dashboards – good business sense. Develop dashboards manually first as a “proof of concept” to determine
if the report design makes sense, if the data tells a compelling story
once populated, if you have the data to support these metrics, and/or if
the investment into an analytics, data visualization or reporting tool is
necessary.
- Plan for tomorrow. Just
because your ideal metrics are not available, don’t put them on the shelf
to collect dust. Keep future metrics on the radar as part of planning
roadmap that prioritizes by level of effort and business value. In some
cases, the infrastructure can easily support the data enhancement
opportunities, it is just a matter of employing different data capture
strategies such as preference management or progressive profiling to
complete and/or expand the data set.
Key Takeaway: Ultimately,
it is about understanding your ideal metrics relevant to your business goals
and marketing objectives, determining what data is need to support those
metrics and how you capture and manage that data across all customer
interactions.
How to Develop Key Performance Indicators (KPIs)
