Let's Talk Data Dashboards: What you need to know
What Is A Data Dashboard?
A data dashboard, or business dashboard, is an information management tool that visually tracks, analyzes and displays key performance indicators (KPI), metrics and key data points to monitor the health of a business, department or specific process. They are customizable to meet the specific needs of a department and company. A data dashboard is the most efficient way to track multiple data sources because it provides a central location for businesses to monitor and analyze performance. Real-time monitoring reduces the hours of analyzing and long line of communication that previously challenged businesses.
What Does A Data Dashboard Do?
A well-designed dashboard provides on-demand access of all of your most important metrics in one place. Pulling information in from multiple dashboards, you can see detailed overview of your business in one quick glance. They provide an objective view of performance metrics and serve as an effective foundation for further dialogue. It’s a business intelligence tool used to display data visualizations in a way that is immediately understood.
Benefits of a Data Dashboard:
Saves Time & Money
Most businesses are using multiple services to track KPIs and metrics, which take up time and resources to properly monitor and analyze. Custom data dashboard elements the need for you to pull data from multiple data sources. Saving you time and money. Data dashboards pull raw data from multiple sources in a central dashboard that users can look at and immediately understand the key metrics they are looking for.
Monitor Multiple KPIs and Metrics In One Place
Changes to any aspect of a business, let it be in marketing, sales, support, or finance, has an impact on the business as a whole. With data dashboards, users are able to dig deeper into the big picture to correlate this impact alongside of specific KPIs and metrics to understand what works and what doesn’t. By monitoring multiple KPIs and metrics on a central dashboard, users can make adjustments to their business practices in real time.
Custom reports are suitable for various business units, such as sales, finance, or marketing. Data dashboards are useful because they visualize information in a way that is accessible to everyone and keeps every member of the business on the same page.
Data dashboards display KPIs and metrics as tables, line charts, bar charts and gauges. They can design colors, symbols and visualizations to highlight important data points, giving the users the ability to quickly get information without shifting through spreadsheets, emails, or signing into a web service.
Four Signs Your Company Needs a Data Dashboard
1) Your data lacks context
Data is only useful if you and your teams can understand and interpret it. When looking at data via a spreadsheet it’s hard to see the big picture behind all the numbers. If you can’t visually see the big picture or lack of visuals is hindering the understanding of the data, you might want to consider a dashboard.
2) Your data is unorganized
Unorganized data makes it difficult to make accurate and informed decisions, especially when the data is incomplete or flawed. Nor is sifting through huge unorganized data sets the best use of employees time. Having all your business metrics in one view helps you save time and make for informed decisions.
3) It’s difficult to communicate your data
Communicating data to various audiences can be challenging. Technical employees may want to dig into the details, while managers just want the big picture. Dashboards allow you to automatically give a high-level view of your metrics through easy-to-understand charts and graphs and allow for details to be shown through drill downs.
4) Nobody is really doing anything with your data
You dedicate time and resources towards collecting and monitoring good data, but other than a few reports based off that data and an interpretation of it, your efforts end here. Yet you want to be a data-driven organization. How can you when as soon as you create a report it’s outdated and you are constantly updating it? Sound too familiar? Then it might be time to incorporate a tool that allows you to tell your story with your live data by using dynamic and colorful visuals in real-time. It’s more engaging and it’s designed to fit your specific needs.
Give your data the dashboard it needs.
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