The term dashboard in business or marketing is a user interface that organizes and display information in a highly visualized way. Dashboard displays current status of important performance metrics and some key performance indicators (KPIs) for companies. This makes it easy for companies and managers to be updated on the most important information to the company. In simple words, dashboard is a digital report providing clear views of KPIs for companies.
Dashboards can combine and arrange statistics, metrics etc. on a single screen. It can be designed for the overview of the whole company or specifically tailored for a department. Having a user-friendly interface and ability to provide real-time data from databases are essential features of a good dashboard. It can be designed to provide operational, strategic or analytical information.
An operational dashboard usually monitors activities that are constantly changing and may require instant response or attention to solve the problem or seize the opportunity.
A strategic dashboard provides a quick overview of the whole company, allowing managers to monitor the weakness and opportunities. It also focuses on forecasting and performance measurement; managers can therefore formulate strategies for their current performance and their future sales prediction.
An analytic dashboard supports data analysis; it analyses the database and drills down into the underlying information.
Dashboard allows managers to monitor the performance of different departments of the company. Here are some benefits of using it:]
- Customizable. It can be customized to present the most valuable and useful information to different management levels.This allows employees in different level to understand what they should do to meet the organizational goals and improve the efficiency.
- User-friendly. It is so user-friendly that you do not have to take any training course in order to understand the graphs. The graphs and reports are designed to allow users to understand the information at a glance.
- Better decision making. It is able to drill into the database and find some underlying information rather than giving the users superficial information. This can help users to make decisions better and maximizes profits and opportunities.