Nickel-based catalysts for the alkaline oxygen evolution reaction (OER) demonstrate excellent catalytic performance and stability. However, a lack of fundamental understanding of the dynamic electronic and structural changes that occur under OER conditions inhibits the rational design of new materials. Recent advances in operando spectroscopy and computational modelling techniques have helped to elucidate the electrochemically-driven transformations of Ni-based materials. For reversible transformations, this encompasses an increased understanding of the redox transformations of Ni/Fe centers, the adsorption and desorption of reaction intermediates, oxygen vacancy dynamics, phase transformations, and the mechanism of dissolution and redeposition of surface atoms. Likewise, there have been great advances in scientific understanding of irreversible transformations including phase transformations related to ageing, as well as operando surface reconstruction which involves the growth of new OER active phases.