In a previous post, ‘The Right Tool for the Job’, I included an example of a method for comparing groups of people, called the Population Stability Index (PSI). It’s a useful approach for when there’s a lot of information and it would otherwise be time-consuming and inefficient to comb through hundreds of tables and charts to determine which variables are most interesting to illustrate the differences between the two groups. PSI quickly rank orders the variables and surfaces not only which variables are most different between the two groups, but also how much different the variables are in comparison to each other.
To add to this, I thought it would be helpful if I provided a couple of PSI templates. I’ve created one for Excel and another for Tableau. You can use either on their own or both together if you wish. I only included ten variables for demonstration and to start you off. Depending on how your data is structured, you may need to adjust it to fit exactly into the templates. Or, use the template structure to create something new that better matches the needs of your data.