A KPI Report is a tool for visualizing a company's "key performance indicators" in an efficient and intuitive way. By using this type of report, organizations can track progress towards their goals and thus improve their performance.
KPI reports enable companies to cope with the large increase in the volume of data they now produce. The number of visitors to a website, the quantity of products sold, or the productivity of production lines are all valuable and actionable information, but can quickly become drowned in a stream of data of varying relevance.
However, a KPI report allows to sort and extract the most important information from this ocean of data. The report synthesizes the information to simplify its management, and therefore its use. It allows to visualize KPIs and measurements specifically related to a particular objective. This allows a structured monitoring of performance.
Typically, a KPI report consists of graphs, charts and tables. Information is presented in these different formats.
A KPI report should not be confused with a Dashboard KPI or ICP dashboard. This tool has similarities, but it is exclusively dedicated to visualization. It combines graphs and charts to allow real-time KPI visualization at a glance.
For its part, the report focuses more on the analytical interpretation of the measures, using trend graphs and tables to assist in the decision-making process. This analytical scope is the main difference between these two types of tools.
In addition, there are several types of KPI reports with different functions. A distinction is made between analytical, operational and strategic reports.
The analytical report provides details on the KPIs, and allows questions to be answered using the data. The operational report, on the other hand, focuses primarily on the day-to-day activities of the company to enable real-time decision making. Finally, the strategic report provides an overview of the company's health and the direction it is taking.
There is no magic formula for creating a KPI report, but the process usually consists of five steps. First, you will need to create an overview to determine the report's objectives, audience, use, and scope of distribution.
The next step is to define the KPIs and actions needed to develop this report. Then choose the appropriate graphs, charts and tables to present this information in a simple manner. Then create a prototype and distribute it to receive feedback from your colleagues. Finally, finalize the report and distribute it.