From incorrectly visual data representations to precise and easy-to-understand information.
In the world of digital community management, measuring and tracking Key Performance Indicators (KPIs) is crucial for evaluating the success and progress of the platform and its members. To effectively present this information, it is essential to use appropriate graphs that facilitate the understanding of data.
In this blog, we will explore different types of graphs, such as bar charts, line graphs, bullet graphs, sparklines graphs, small multiples, and waterfall chart graphs, and how they can be employed to properly represent KPIs for the digital community management platform.
Bar-Charts:
Bar charts are ideal for representing comparable KPIs across different categories or time periods. Each bar represents a category, and its height represents the magnitude of the KPI value. For example, a bar chart could be used to show the number of new entrepreneurs registered on the platform compared to the number of active entrepreneurs.
Line Graphs:
Line graphs are effective for showing trends and changes in KPIs over time. By representing the evolution of an indicator through points connected by lines, patterns and variations in community performance can be observed. An example of usage would be to track the growth of participation in events and workshops over several months.
Bullet Graphs:
Bullet graphs are a combination of a bar and a line graph. They are helpful when you want to show a KPI in relation to a target or reference point. A bullet graph typically displays a horizontal bar representing the current value of the KPI, a vertical line indicating the target, and a color range to represent different performance levels. It could be used to show the retention rate of entrepreneurs compared to the established target.
Sparklines Graphs:
Sparklines graphs are miniature line charts used to show trends in a condensed space. They are ideal for integration into reports or tables, providing a quick overview of performance without taking up much space. For example, sparklines could be included next to mentor names to display the number of counseling sessions conducted in the last 30 days.
Small Multiples:
Small multiples are multiple charts that share the same axis but represent different segments or data categories. These charts are useful for comparing patterns and trends across multiple KPIs simultaneously. It could be used to compare the growth of startups in different industries or regions.
Waterfall Chart Graphs:
Waterfall chart graphs are useful for illustrating how a KPI has changed from one period to another, showing the positive and negative contributions that have affected the final result. For example, it could be used to analyze how the platform's monthly revenue has varied, considering factors such as new subscriptions, cancellations, and operating expenses.
Conclusion:
Properly representing KPIs is essential for the success of the digital community management platform. Using the correct graphs, such as bar charts, line graphs, bullet graphs, sparklines graphs, small multiples, and waterfall chart graphs, will enable administrators and entrepreneurs to better understand community performance and make informed decisions to achieve success and sustainable growth for their startups. Effective visualization of KPIs will encourage data-driven decision-making and continuous improvement within the platform.
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