Small populations make your average very volatile over time and make it appear more accurate than it really is. Averages bas on 2 or 3 values are almost useless. Outliers can greatly skew the results, such as one or two employees having hundrs of days off work due to very serious but very rare injuries. It is generally well accept to leave outliers out of the average calculation and simply note them in a footnote. Skew distributions can also skew your average, such as when most sales are between $100 and $1,000 but there are a few that go as high as $10,000. In this case, a mian might be a better indicator of the “middle” of the distribution.
Here more information on
How to measure KPIs in an organization. Ratios A ratio divides one sum (numerator) or total by another sum or total (denominator). It is different from an average because the denominator Slovenia Business Email List is not a population count; is usually another measure of the same population: Total sales revenue receiv divid by total sales revenue bill Total sales revenue divid by the total hours spent on sales calls that generat that revenue Ratios are one of the most useful formulas to measure KPIs to measure productivity. The numerator is your result or output and the denominator is your delivery or inputs.
However keep in mind
That it is very easy to make your KPIs or measures unnecessarily complex by using ratios. When you measure ratios, make sure they show you something sensible. Use various formulas DP Leads to measure KPIs on a dashboard In a dashboard you can have evidence of the performance measures you want to track. This information can come from various sources, and become the virtual space you ne to make better decisions. You can create filters and set the formulas to measure KPIs according to your nes.