The use of dashboards can be advantageous in multiple aspects, so there are a number of benefits of dashboard reporting. Here are the top six features and benefits dashboards can provide:
Data transparency – Data is any company’s most important asset. However, it doesn’t do much good if no one can understand or access it. A well-designed dashboard provides on-demand access of all of your most important metrics.
Access to data – As the name implies, a dashboard gathers multiple data sources, including Excel, into a single interface. That means you can immediately see a detailed overview of your business in one quick glance. Better yet, it reduces the amount of time it takes to compile reports, saving you time.
Better decision making – Dashboards provide an unbiased view not only of the company’s performance overall, but each department as well. If each department is able to access the dashboard, it can offer a foundation for further dialogue and great decision making. For example, the sales and marketing department can align their data and experiences to increase customer acquisitions and improve demand generation. Business dashboards provide a good starting point for these decisions, which is one of the biggest advantages of dashboards.
Accountability – While it’s always nice to see what you’re doing right, you also need to see and understand what can be improved upon in order to increase your performance. Business dashboards can show you exactly where your trouble areas are and arm you with the information you need to improve. Also, by making the dashboards visible throughout the company, they can hold different departments accountable for both the ups and downs.
Interactivity – Some of the best dashboards provide a dynamic experience. Rather than providing static information, you and your users can filter data, interact with charts to see changes over time, and even allow for an ad-hoc component for on-the-fly. That means you can get as much or as little detail on specific metrics as you want.
Gamification – Your metrics, whether traffic to your website or products sold, are the key numbers you want to continuously improve upon. The top businesses have managed to gamify certain business metrics to increase the likelihood of customer retention. If you’re considering gamification, business dashboards can track the success of your efforts.
The ability to access information from multiple data sources in real time is an important component of your business structure. Give us a call today for a free, honest and unconditional discussion and we'll be happy to help however we can.