Business Dashboards – at glance visualizations
Does your organization feel the need to better monitor and manage business critical KPIs at a summary level for better decision making? Well, the solution to this is a Dashboard!
A dashboard is a simple, easy to understand page/screen of information which outlines the information about the important Key Performance Indicators. Dashboards paint current state of organization/department performance in a single view. A dashboard can be personalized as to view information regarding some specific KPI’s. Hence, it’s a simple way to understand the current performance in an easy format.
The Dashboards are usually developed according to the business process in an organizational function. For example, a Manufacturing Dashboard will contain information such as units produced per day, current status of inventory etc., whereas a Human Resources (HR) dashboard will highlight the KPI’s such as Cost per recruitment, salary paid out per month etc.
The dashboards can be built using pretty much every tool such as Microsoft Excel to specialized BI packages like SAP etc. The dashboards include a variety of visualizations to easily represent the information in very interactive and intuitive way and hence the user can compare the current information with the historical information. This helps in quicker answers to business questions which help CxOs in making business decisions.
For generating relevant information in the dashboards, it is very essential that there is a robust BI system which analyses and processes the information to gain valuable insights. Also, it is extremely important to ensure that the system is fed with good quality of relevant data free from any errors. Also, it is very important for the organizations to identify the key metrics that will be monitored using the BI system. The reports generated by the BI systems are reflected on the dashboards, as well as they form a basis for predicting the future trends for the organization.
Thus, Dashboards form an integral part of the BI systems implemented in an organization and should be implemented to derive business insights with the help of just a few clicks!