KPI stands for Key Performance Indicator and you can refer to lots of books. However, here are the 5 rules of thumbs:
- First, you cannot choose any indicators; they are based on specific objectives to accomplish
- Second, it must be driven by important decision to make (otherwise it means that the choice of the indicator is not proper)
- Third: Always analyze the results
- Forth: KISS !! Keep It Simple Silly: A good indicator must be simple to create and people can understand it easily. Often, complicated calculation leads to obscure indicators, that you cannot make any decision from.
- Finally, after carefully having chosen the indicators, you must trust them to determine the best action to undertake.
Here is an example in EXCEL, using the Radar graph :
* Let us consider 2 solutions to analyse,
* Below is represented the graph created with EXEL for one of the two solution (each major criteria below would be composed of sub-criteria - not represented)