KPI Report Examples in Excel
Key performance indicators can be a very important tool in any business organization. They will help you to keep track of certain processes over a period of time. Why this is so important is that you can then use the data which you’ve collected.
Next analyze it to see where needs improvement and if the overall metrics are aligned with your organization’s goals. If you are running a business and you don’t have any key performance indicators in place. That will help you track for example your sales data, employee turnover rate, production operations etc.
Your business can be at a huge disadvantage. You are not going to have any form of structured data to base your business performance off of over a period of time.
By giving it a rough analysis over certain processes and think that everything is working fine is not really the way to do it. The business world is getting more complex with so many layers from regulators, competitors, scaling etc. It’s necessary to use key performance indicators. You’re not quite finish as yet once you have key performance indicators that are just half of the equation.
You are also going to need to put that data into some kind of framework. Then make sense of it in order for it to be easily communicated across the different layers of your organization. This is where the key performance indicator report creeps in. Creating a key performance indicator report can become a bit tedious but it’s going to be worth it.
To create a key performance indicator report, it comes with 7 main sections. These are objective, measure, definition, frequency, source, graph and owner comments. You can see them in more detail below.
In this section you are going to put the goal you are going to set for a particular key performance indicator or a group of indicators. Every key performance indicator has to be under a goal. When your key performance indicator data is collected you can then evaluate it to see if it is aligned with your goal.
This is going to be where you put the key performance indicator in order to measure the goal. Make certain that your indicators can be easily measured and attainable this will reduce a lot of confusion going forward.
In this part of your report you are going to define why you are tracking that particular indicator. So for example your measure is to increase sales by 10% in 6 months. In your definition section you can say that you feel strongly that as a company you need to grow quickly. And increasing sales revenue in the next 6 months can give you enough run way. That will allow you to compete with the big guys in our market.
You are going to put how frequently this specific key performance indicator is to be measured. This is all up to you and your goal. Some indicators can be measured weekly, monthly, quarterly, every six months etc.
In this section you are going to put where in your organization this indicator will be measured. These can be from your production line, human resource, supply chain management etc.
Showing visualized data diagrams of the data collected will let your key performance indicator become more understandable. Using graphs and charts to help visualize your data is probably one of the easiest ways.
In this area, if you are the one responsible for keeping track of the key performance indicator. You are going to give your final thoughts on the indicator.
You can put what you think could’ve done better in order to get better results next time around. Or if it was a huge success you can write a sentence or two on what took place.
You can see an example of a key performance indicator report below.
Achieve better sales results and be the market leader in our market.
Increase our sales numbers by 10% in 6 months
In order to grow and fulfill our vision to be market leader in our market we need to be firing on all cylinders and sales is no exception. Achieving a great sales result in the next 6 months and beat analyst expectations can help us to invest into new innovations and infrastructure in order to make our organization thrive.
Everything went fairly well, we missed our target by a mere 2%. If we did have better customer service probably most of our angry customers would’ve been converted into sales.
We need to train our customer service representatives better. Additionally we need to also make changes in our logistic strategies in order to deliver product at a faster rate.
By looking at the sample report above you can see that the layout is very straight forward. When creating key performance indicator reports, create them on the most important indicators don’t waste your valuable time on unnecessary ones.