Visualizing Major KPI for your business in Qlik

Visualizing Major KPI for your business in Qlik

Visualizing Major KPI for your business in Qlik

  • What is Qlik Sense:

Qlik Sense is an interactive data visualization tool that provides AI-generated analyses and insights. Qlik Sense lets the users connect and integrate data from hundreds of data sources like apps, databases, cloud services, files, etc.

Qlik Sense provides self-service visualization and associative exploration to dashboards, embedded analytics, reporting, and other analytic use cases.

The self-service visualization enables the users to combine, load quickly, and visualize the data. In addition, it provides interactive charts, tables, and instant updates to the current context of each action. Insights are provided with assistance from Insight Advisor for auto-generated analysis, chart recommendations, and data combinations.

Qlik Sense uses an associative engine that lets the users freely search and explore all the data, in any direction, with no pre-aggregation or predefined queries. Furthermore, it maps all the relationships in the data and creates a compressed binary index optimized for interactive analytics.

  • Why use Qlik Sense:

A complete analytics data pipeline from Qlik gives real-time, current information intended to prompt decisions when necessary. The only comprehensive platform for real-time data integration and analytics is Qlik Cloud. Additionally, Qlik offers a platform for end-to-end governance.

Instead of deploying desktop products as part of a cloud, Qlik works with the company to make controlled, approved datasets easily accessible through an enterprise catalog while ensuring that the data is up-to-date, correctly managed, and provided to the relevant individuals.

Qlik Sense provides drag-and-drop capabilities for visualization and integration with multiple data sources. Qlik is entirely cloud-based and uses javascript.

Qlik Sense provides a storytelling feature that allows users to share insights and analyses in a presentation.

Qlik Sense lets users create and share powerful interactive dashboards. Every element is interactive, taking users beyond the static dashboards.

  • An example Dashboard:

  • KPI:

A quantitative indicator of performance over time for a particular goal, such as projects, programs, goods, or other efforts, is known as a KPI. KPIs give teams benchmarks to measure progress against, provide an analytical foundation for decisions, and focus attention on what matters most. KPIs aid each business segment in advancing strategically as a result.

Metrics quantify the success of routine business operations that support your KPIs, but KPIs do not. So, although they impact the results, these are not the most important ones.

Types of KPIs:

Here’s an overview of some of the most common types of KPIs.

Strategic: These high-level KPIs track the accomplishment of corporate objectives. Executives often use a strategic KPI to assess the company’s current performance. Examples are return on investment, profit margin, sales, and market share.

Operational: These KPIs usually concentrate on organizational procedures and efficiencies and measure performance over shorter periods (month over month or day over a day). Managers frequently employ KPIs, including regional sales, monthly average transportation costs, and cost per acquisition (CPA).

Functional: These KPIs are connected to particular departments like finance and marketing. Marketing KPIs gauge the number of clicks each email distribution receives, whereas financial KPIs monitor gross profit margin or return on assets. These operational KPIs are also categorized as strategic KPIs.

Leading/Lagging: While lagging KPIs monitor past events, leading KPIs assist in forecasting future results. Organizations utilize a combination of both to make sure they are adhering to what is most crucial.

  • Visualizing KPIs in Qlik Sense:

KPIs can help monitor the most critical business objectives. 

Although KPIs are limited in their graphical components, symbols can be added to illustrate a KPIs performance.

To create a KPI visualization in Qlik Sense, you can:

    • First, drag an empty KPI chart to the sheet that is being edited from the assets panel. 
    • Click Add measure, select a measure or create a measure from a field. 

You can have one or two measures and no dimensions in a KPI visualization. With two measures, the second value automatically becomes a complementary value and is shown with a smaller font size. 

KPI measures and labels can be edited from the properties panel.

  • Creating a KPI:


The KPI visualization can show one or two measure values and is used to track performance. Following is a KPI visualization with two measure values using conditional colors and symbols.

You can also display your KPI visualization in different colors and with other symbols next to the measures using Conditional colors and characters from the properties panel.

Using conditional settings, you can use the Multi KPI chart (Multi KPI)  to customize the values and measures. For example, you can add several KPIs, group them, and link them to different sheets. KPI values can also be customized independently.

You can use the color palette to differentiate all the KPI values by colors by changing the colors of text, icons, and background, provided that the colors are valid CSS colors.

You also have the option to change the size and fonts of the measures and labels. You can also choose a different set of icons.

  • Infographic mode:

You can display each metric graphically as the appropriate number of icons using the infographic mode.

Infographic mode:

  • Formatting Options:

    • The order in which the labels for the measure values appear can also be changed.
    • You can choose to display icons either before or after a value.
    • Labels and values can both be hidden.
    • Each measure’s KPI values can either be displayed in groups or separately.
    • Each measure has the option of linking to another sheet.
  • Example of a Sales KPI Dashboard:

Conclusion: 

Overall Qlik Sense is a modern, simple and powerful data analytics tool that provides the complete data analytics capability set in the industry. It provides robust data integration and visualizations.

It provides many options to customize your KPI visualizations so you can monitor the business objectives central to your organization in the best way possible.

Summary
Article Name
Visualizing Major KPI for your business in Qlik
Description
Qlik Sense is an interactive data visualization tool provides AI-generated analyses and insights. It provides self-service visualization and associative exploration.
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BugendaiTech Pvt Ltd
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1 comment

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