Power BI – Explain Key Performance Indicators (KPIs) dashboards

The KPIs evaluate an association’s performance in different areas by assessing quantifiable measure values. In businesses, KPIs play an essential part as visual cues that indicate growth by assessing values and measurable pretensions. A KPI always has a base value or measure which is estimated against a target value. That is, comparing the factual performance with the target set. You can estimate the performances in an analysis just by seeing the KPIs.

Creating Key Performance Indicators (KPI) Visualization

To Demonstrate KPI we will import an excel sheet to power BI, following steps are to be followed, The dataset used for the visualization is here. Below is the screenshot of the dataset:

Step 1: Under the Home, Tab Click on Get data.

Step 2: Click on Excel Workbook.

Step 3: Import the data from your machine and select the check boxes shown below.

Step 4: Under the visualization Tab. Select Build Visuals.

Step 5: Now select the KPI icon as shown below.

KPI has 3 fields which are Values, Trend Axis and Target Goal.

• Values: It is the actual values against targeted values.
• Trend Axis: It will be the month name or number axis line.
• Target Goal: target to be achieved.

Step 6: Drag and Drop the fields in the respective row as shown below.

Step 7: Now the Dashboard of Power BI looks like this.

KPI Advantages

• Monitoring the target: This KPI helps the organization to monitor their performance in a visuals manner 
• Timely reports: With This KPI the organization will be able to check whether they are able to execute their plan or not
• Simplify Process: Modern businesses can use KPIs for their advancement of profit

KPI Disadvantages

• Time Taking: It does not offer information on which action can be taken immediately
• Implementation: Do not try to overload with more than one data, always start with simple implementation

Uses of KPI

Working with KPIs is easy and you can use them to display inversely complex information. The two main reasons why you should use KPIs in your Power BI are 

• We use KPIs to measure progress i.e., positive or negative change over time. For illustration – whether you’re getting correct results or not, meeting targets or lagging before. 
• We also use KPIs to measure the distance to a target or a thing. In this case, you dissect how far behind you’re in meeting your target.