There are several types of data and information that can be tracked about an indicator, depending on the specific indicator and the context in which it is being used. Some key pieces of data and information to consider tracking include:
- Indicator Name: [Name of the indicator.
- Description: Brief description of the indicator and what it measures.
- Target value: The desired or target value for the indicator. This can be a numerical value or a qualitative goal.
- Current value: The current value of the indicator. This can be measured at regular intervals, such as daily, weekly, monthly, or annually.
- Trend: The trend of the indicator over time. This can be helpful for understanding whether the indicator is improving, worsening, or remaining stable.
- Comparison to benchmark: The comparison of the indicator to a benchmark or industry average. This can help to understand how the company's performance compares to its peers or to industry norms.
- Drivers: The factors that are driving the value of the indicator. Understanding the drivers of an indicator can help to identify opportunities for improvement or to address any challenges that may be impacting the indicator.
- Action plan: A plan for improving the indicator, if necessary. This can include specific actions that the company can take to improve the indicator and a timeline for implementing those actions.
- Supporting data: Any additional data or information that is relevant to the indicator, such as customer feedback, market trends, or financial data.
By tracking this data and information about an indicator, an organization can better understand its performance or impact, and make informed decisions about how to improve or sustain that performance.