Chapter 78. Name KPIs
The second step in the INSIGHT framework for data visualization is to name the key performance indicators, or KPIs, that will help answer the business question identified as the focus for the dashboard. More specifically, the KPIs should be documented, which serves three key purposes:
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Aligning stakeholders on the data they agree about will help answer the business question that is important to the organization. It is much easier to debate the merit of each KPI and make modifications to the list at this point rather than waiting until you have a data visualization developed.
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Informing the dashboard design. Once a consensus is reached on the KPIs that should be included in a data visualization, you basically have a blueprint in terms of what should be included in the final product.
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Providing a historical record so you can review how requirements change over time. It is common for a business environment to change to the point where new KPIs or ways of looking at the data emerge. You may discover a customer segment you want to focus on or realize that a KPI is no longer helping answer the business question. Allowing some room for change is OK, but it helps to maintain a record of the dashboard evolution:
The KPI-naming exercise is not a one-size-fits-all task. It’s possible that a single KPI can answer the question at hand. Other times, several more ...
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