A business dashboard is a valuable business intelligence tool, offering an “at-a-glance” big picture view of a company’s performance.
Some business owners use a business dashboard to track KPIs relevant to just one aspect of their business. This includes indicators such as sales growth, marketing, financial data, etc. Others rely on an executive dashboard for an overview of data culled from various sources. This can range from their accounting software to their CRM tools and website analytics.
The great advantage of a business dashboard is that it presents and compares complex data drawn from a number of sources using visual tools (i.e. tables, line graphs, and bar graphs). This is data that would typically take hours to compile and analyze on your own. With access to this consolidated data, business owners are empowered to make more informed real-time business decisions.
Find out more about how a business dashboard can help you grow a more profitable business.
Improved Business Intelligence
Business owners get the most value from using a business dashboard when they have specific objectives in mind. When you know your objectives, you know which data to monitor. Knowing your objectives also helps you to choose the best type of dashboard that will gauge progress and meet your goals.
Think about your priorities for the next six months, a year, or three years. Once you’re clear on your goals,
test drive a free trial to get a sense of how business dashboards work. After you’ve navigated your way around them for a while, you should be able to find one that is perfect for your needs.
Of course, free software with limited features won’t demonstrate everything a dashboard can do. But testing one out can help you see the potential for your business, and decide whether to look into other paid options.
Customized Business Dashboard
If you’re comfortable with coding, a free open-source dashboard may be a good solution for your small business. Open-source dashboards allow you to integrate data from different sources. This offers you some room to create the perfect dashboard that meets your needs.
If you decide to shop for a solution, you’ll have many customizable options to choose from. The choices include analytical, operational, or information dashboards. You may also find those that operate via software, web-based tools, cloud-based, and mobile-friendly dashboards.
As a tip, many business owners prefer cloud-based dashboards for their convenience. These are highly preferred because they allow real-time data to be accessed from multiple devices. A cloud-based business dashboard solution with a drag and drop interface is simple to use. It lets you decide which data you want to view and how you’d like it displayed.
Final thoughts
There are many benefits to working with a business dashboard, but the main advantage is that they can help you make more informed decisions that will have a positive impact on your company’s agility and competitiveness – and ultimately, your bottom line.
Using a dashboard can help you spot problem areas and negative trends quickly, so you can take steps to correct them. You’ll know what to do more of to increase sales and profits, and implement the best strategies to achieve your business goals
If you haven’t updated your business plan recently, take some time to identify your high-priority objectives. Then you can take the next step and find a business dashboard that offers you the business intelligence you need to meet your current and longer-term goals.