In order to limit the number of Key performance Indicators (KPIs), and maintain clarity and conciseness of a dashboard, sometimes it might be useful, to combine a set of performance indicators into one single key performance indicator. This latest episode of my podcast will show, step-by-step, how you can build up a combined performance index. using
a target value,
- a base value and
- a weighting
for each individual indicator. It also gives an example how to implement this concept in an Excel spreadsheet.