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I'd like to show the percentage change on my KPI with a smaller percentage that is either +/- and a label 'UP' or 'DOWN' to show if it is increasing or decreasing in relation to last month. Is there a way to do this or have I chosen the wrong representation?
You can do that using an secondary measure.
Take a look at this page: https://help.qlik.com/en-US/sense/August2022/Subsystems/Hub/Content/Sense_Hub/Visualizations/KPI/KPI...
Adding a percentage change to your KPI gives you that extra insight to see how things are trending. You're definitely on the right path, wanting to show it with a smaller percentage and a cool label like 'UP' or 'DOWN'. It's all about finding that sweet spot for representation that clicks with your team. If you're still mulling over options, you might wanna give the startup dashboard a spin. It could be just the ticket to jazz up your visuals and make tracking those changes a breeze. Keep exploring, and you'll hit that data visualization jackpot in no time.