Great metrics share the same traits. Two of the most important traits are making sure your metrics are comparative & a ratio/rate.
The Visible team just pushed a great update to make it even easier to compare your key metrics to a previous year along side the % change from the previous year. Want to jump right in? Check out our Year-over-Year Knowledge base article.
A year may seem like a lifetime in a high-paced environment but it’s important benchmark yourself to where you were the prior year. It’s especially useful to take a breath and give your leadership team a chance to make informed, strategic decisions.
We love inspiration (aka copying great work) on the Visible team so wanted to share some great ideas you are welcome to use for yourself.
Revenue vs Prior Year
This is a great way to quickly see where your KPI is currently, where you were the previous year and what is the delta from the previous year. Charting the % Change on the opposing axis lets you quickly see the good (or bad).
In the example above you can see 2018 is off to a great start with major gains from the previous year.
Revenue & Forecast
The first example is a good but what were the expectations for a particular KPI? Did we over-perform? Under-perform? Just squeak by?
This example lets you quickly understand the business is over-performing (yes!) and what we expect for the next quarter.
Want to know more about what makes a good metric? Check out this post by Plan Brothers and this one by OnStartups.
Want some help getting these setup in your Visible Account? Just email our data team at hi@visible.vc.
Up & to the right,
-Mike & The Visible Team
