Is there a change?
An easy way to identify a change is to use a line graph to explore patterns and changes.
To do this you need to:
- plot your compliance data on a line graph, preferably using one that allows you to plot more than one data series; this will make it easier to compare your data with, for example, a benchmark
- identify the point in time when your strategies were implemented
- look at the historic observations before your strategies were implemented, and identify any obvious trends
- draw a line that depicts that trend and extend this line into the future
- examine any observations taken after your strategies were implemented and compare them with the previous trend; if there is a difference, you will be able to conclude that there is a change.
However, where the historical data shows considerable fluctuation, it may be difficult in the short term to identify whether a change has occurred. You may need to continue monitoring over time to understand whether there is a difference.