As you seek to better understand your customers and make more informed business decisions, dashboards are a critical addition to your business intelligence toolbox. But there are many types of dashboards out there, each with unique purposes - how do you determine which one is best for your company? We’ve listed three of the most widely used dashboards below.
Strategic dashboardsIdeal for senior managers and executives, strategic dashboards are designed to help identify potential opportunities for business expansion and improvement. This type of dashboard doesn’t provide information in-depth enough to make complex decisions, and is typically is updated once a month or quarter.
Benefits of strategic dashboards As the name suggests, strategic dashboards are designed to provide strategic guidance. The dashboards give a bird’s-eye view of your business. They can contain anything from overall sales numbers to sales and revenue comparisons, or inventory levels, making it easy for executives to understand the overall health of the organization.
Analytical dashboardsThis type of dashboard provides users with insights from a volume of data collected over time, enabling you to understand why certain things are happening, and what changes should be made in the future in order to accommodate them. The data presented in analytical dashboards tends to be complex, and usually requires advanced training to use. That’s why they are generally used by business analysts, instead of being widely deployed to other employees and across all departments.
Benefits of analytical dashboards When it comes to creating and implementing strong business strategies, understanding the trends and events in your data is crucial. Analytical dashboards provide detailed information that allows you to compare current against historic data. Implementing analytical dashboards allows you to enjoy in-depth analysis, identify patterns and opportunities in your data, and determine why processes are working in certain departments.
Operational dashboardsOperational dashboards are used to monitor the real-time operations of employees, allowing them to measure the effectiveness and efficiency of their work performance. This type of dashboard is commonly found in departments where it’s essential to respond to critical information quickly, such as those working in sales and marketing.
Benefits of operational dashboards Business owners rely on operational dashboards to track their employees’ progress, and to be notified of issues as they come up in order to respond quickly. What’s more, the dashboards provide up-to-date information, all bundled in one place, making it easy for employees to make quick decisions without having to dig through large amounts of data.
Dashboards concentrate all data, metrics, and parameters in one place, bringing a totally new dimension to business intelligence. Your company can significantly benefit from the right dashboard. If you’re looking to implement dashboards for the first time, or to enhance the functionality of your current dashboard, get in touch with us today.