I realized after that there is at least one column missing from the above attachment...a column indicating which direction is "good" or "preferred." It may sound silly, but to help people read the story, adding in as much information that builds the situation from left to right can be helpful. In that cell, we usually inserted an arrow up, down, or sideways (in this case, we wanted stability within a range)
Something else to consider is the target being a range and not necessarily just above/below a certain number. For example, let's say you wanted to measure downtime (down is good). If, historically, you range between 3%-5% downtime, that should be your target. Anything above 5% would be a "bad" red meaning you were down more than planned. Anything less than 3% would be a "good" red and should still be looked into because if you achieved it once, maybe it can become the new norm. Red results are not necessarily bad - this is a mindset difficult for some to overcome - red results simply indicate that there is something outside of the desired range, an outlier that warrants closer investigation.