KPIs (in Scoreboard) or Measures (in QuickScore) can be added at any level in a scorecard. KPIs/Measures are the ‘engine’ of the scorecard. When you add actual values to KPIs/Measures, a score is generated and the whole scorecard will ‘colour-up’. To add KPIs/Measures you need to be an Administrator.
We have used the example created in the previous user guide Improve Profit and we will be adding the KPI/Measure Profit.
Click on the + New Scorecard Item button and the Create KPI/Measure dialogue will appear together with a New KPI/Measure under the Objective:
You do not have to provide all of the details at this stage, but there are a few things you will need to add (the example below is from QuickScore).
Follow this sequence:
1. Give the KPI/Measure a name – this should be a label 3-5 words long.
2. Select the Type – this should be KPI for Scoreboard, Measure for QuickScore.
3. Provide a description – this is optional but it is good practice to provide a description which includes where the KPI/Measure data can be found.
4. Select the Scoring Type – the scoring type can be one of eleven types. On most occasions, this will be Goal/Red Flag (Red/Amber/Green).
5. Select the Calendar – this relates to the frequency the data is collected, normally monthly for general management reporting.
6. Select the Data Type – the application can handle Currency, Percentage, Numeric and Yes/No data.
7. Select the Aggregation Type – this tells the application what to do with actual values when looking at them using a calendar other than the frequency collected calendar previously selected.
For example, for a Currency, the aggregation type is normally Sum. When looking at monthly data with a yearly calendar, you want the application to sum the months.
For a Percentage, the aggregation type is normally Average. When looking at monthly data using a yearly calendar, you want the application to take an average over the months.
Thresholds: You need to tell the application when you expect a KPI/Measure to turn red (from amber) and green (from amber):
8. Add the Red Flag threshold. For example, if the KPI/Measure is deemed to be Red below $25,000, the Red Flag value is $25,000.
9. Add the Green Flag threshold, this is usually the target.
10. Optionally add the Owner (this can be done later).
11. Optionally add the Updater (this can be done later).
You will be invited to add another KPI/Measure, a blank Create KPI/Measure screen will appear. Add as many KPIs/Measures as you need. Click Cancel to stop the application from inviting you add more Measures/KPIs.
Once you have added all of your KPIs/Measures, you can come out of Edit mode by clicking Done at the bottom of the menu list.
The resulting scorecard and KPI/Measure might look something like this:
These parameters appear in the KPI/Measure Details and Series panels:
- Usually Goal/Red Flag, select from the list
- Monthly, Quarterly, Yearly, or a custom calendar type, e.g. company fiscal
Data Type: select from one of the three options:
- Number – numerical data, e.g. number of calls received
- Percentage – any percentage value, e.g. %Net Profit
- Currency – a number expressed in currency e.g. USD or GBP
Aggregation Type: How to aggregate for a different calendar view
- Sum – data added monthly will be summed up when viewed quarterly or yearly e.g. Revenue is usually defined as Sum
- Average – data that is added monthly will be averaged when viewed quarterly or yearly – e.g. %Net Profit is usually averaged
- Last Value – the last value added will be used when viewed quarterly or yearly – e.g. Cumulative Sales is usually set to Last Value
- Click here for a detailed description of Aggregation Type
Decimal Precision: The default can be set in Administration
- If you require anything other than the default, the decimal precision can be set here with a numerical value e.g. 0, 1, 2 etc.
Actual Value: Manual or Calculated
- It is possible to use a calculation, this is covered in advanced functions
Red Flag and Goal:
- When measures turn Red, Amber or Green
- The application bases all of its calculations on this setting. You need to determine when a performance measure is good, indifferent or bad, that is; Green, Amber or Red. For the Goal Red Flag measure this requires two values:
- Red Flag: when the performance measure turns Red
- Goal: when the performance measure turns Green