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Create a formula indicator

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Create a formula indicator

Create a formula indicator to use the scores and analytics of other indicators to produce a new computed score.

Before you begin

Role required: pa_power_user or admin

About this task

Formulas are often used to:
  • Calculate ratios and percentages.
  • Combine data from different applications.
  • Build predictive indicators based on historic performance.

The fields of a formula indicator are similar to an automated indicator except for the condition. Formulas can consist of other indicators, constants, variables, and time series, or any combination of these elements.

Note: You must have a license for Performance Analytics to create indicators.

Procedure

  1. Navigate to Performance Analytics > Formula Indicators and click New.
  2. In the Name field, give the indicator a descriptive name, such as Number of Critical Incidents.
  3. If you prefer that the score of this indicator increases or decreases over time, select Maximize or Minimize in the Direction field.
    Analytical tools and graphic displays use this Direction with this indicator.
    ValueUse case
    Maximize Select if an increase in this indicator score is desired. For example, consider selecting Maximize for an indicator that shows revenue. Analytic tools and graphic elements reflect that an increase in this indicator score is good and a decrease is bad.
    Minimize Select if a decrease in this indicator score is desired. For example, consider selecting Minimize for an indicator that shows costs. Analytic tools and graphic elements reflect that a decrease in this indicator score is good and an increase is bad.
    None Select if the direction of change in this score does not matter to your business.
  4. In the Formula section of the Indicators form, click the Browse for an indicator link.
    You can repeat this step to add as many indicators as needed to the formula.
  5. Fill in the indicator selection dialog as follows:
    Table 1. Indicator selection dialog
    Field Description
    Indicator The indicator you are inserting as a component into the formula.
    Breakdown, Element, 2nd Breakdown, 2nd Element Up to 2 levels of breakdown and element for filtering the scores on the indicator. If you specify a breakdown, you must specify an element of that breakdown. These breakdowns and elements apply only to this component indicator and not to the formula indicator as a whole.
    Time series A predefined analytical function, like a 7-days running average, to apply to the indicator instead of showing the raw scores of the indicator.This time series applies only to this component indicator and not to the formula indicator as a whole.
    Allow breakdowns Allows breakdowns that apply to the entire formula indicator to apply to this component indicator. Enabled by default.

    To see which breakdowns apply to the entire formula indicator, click Manage breakdowns at the top of the record.

    Use in method Returns a unique identifier instead of the score for this indicator. Select this box when you are specifying an indicator for a method in the formula. These methods get calculated values for the indicator from the Analytics Hub. For more information about using these methods, see Get indicator analytics in formulas.
  6. Modify the Formula as needed.

    Enter any operators or numbers to include in the formula. Use valid operator symbols, such as +, -, /, %, >, <. You can also add more indicators to the formula. For example, to calculate the average age of open incidents based on summed age of open incidents and number of open incidents, use the following formula: [[Summed age of open incidents]] / [[Open incidents]] / 24

    To specify a data collection period in the formula, use the variables score_start and score_end to refer to the start and end of the data collection period, respectively.

    To use an Analytics Hub metric in the formula, use a method of PAFormulaUtils(). For more information, see Get indicator analytics in formulas.

  7. To apply a breakdown to the entire indicator, click Manage breakdowns at the top of the page.
    The breakdown can only be used interactively, meaning on Analytics Hubs, appropriately configured breakdown widgets, and breakdown dashboards. For information about using the Manage breakdowns tool, see Assign and map breakdowns.
  8. In the Access control tab, set whether to publish this indicator to the Analytics Hub, and whether to limit the visibility of the indicator by user, group, or role.
  9. In the Other tab, set miscellaneous properties. These properties apply to the entire formula indicator.
    Table 2. 'Other' tab fields
    Field Description
    Default time series A predefined analytical function, such as a 7-day running average. Depending on whether Apply time series to result is set, this time series can apply either to each component indicator before the result is calculated, or to the result.
    Live group profile Live group profile that indicates the live group where the indicator scores are published.
    Order Number indicating the order in which indicators are displayed in the Analytics Hub. Indicators with the lowest value are displayed at the top of the list. If no values are provided in the Order field, indicators are displayed from a to z using the Name field. To use the order field, you must enter order numbers for all indicators. If you put in numbers for only a few indicators, the order in which indicators are displayed reverts to a to z.
    Render continuous lines When selected, the Analytics Hub shows unbroken data lines for this indicator, even when there is no data for a specific date. This behavior may be useful when displaying data sets with varied starting dates or data that is not regularly updated, such as stock information.
    Apply time series to result Applies the default time series to the result of the calculation of the formula instead of to each component indicator before the result is calculated.
    Allow formula component to be NULL Has the formula calculated even when it contains a null score. Useful for troubleshooting. For more information, see the section "Detect indicators with no scores in a formula."
  10. (Optional) In the Forecasting tab, set the forecast method, the number of data collection periods to forecast, the amount of historical data to base the forecast on, and the upper and lower limits of forecast values.
    For more information, see Performance Analytics scores forecasts.
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