Dashboards: What They Are And Why Every Business Needs One
Dashboard has been a trending buzzword lately, but what does a dashboard mean in the business world? Simply put, a dashboard is:
"An easy to read, real-time user interface, showing a graphical presentation of the current status (snapshot) and historical trends of an organization’s key performance indicators to enable instantaneous and informed decisions to be made at a glance."
Dashboards often provide at-a-glance views of KPIs (key performance indicators) relevant to a particular objective or business process (e.g. sales, marketing).
We have posted in be past about how to make a winning scoreboard, and want to help you understand why your business should put in effort to get a dashboard up in running. Some benefits of using dashboards include:
- Simple visualization of your KPIs
- Ability to identify and correct negative trends quickly
- Measure efficiencies/inefficiencies within sales performance or campaign strategy
- Ability to view and generate detailed reports showing new trends
- Ability to make more informed decisions based on collected datasets
- Saves time compared to running multiple reports in separate programs
- Gain total visibility of all teams and programs instantly
Here's a few problem's we've seen teams struggling with:
We're struggling to compare historical data surrounding pipeline and conversion rates at each sales stage to predict outcomes and forecast accurately.
I want to see how many days it takes for opportunities brought in by my marketing campaigns to convert to leads.
How can I help my sales teams achieve their goals by identifying potential early warning signals and risks in the sales pipeline?
With a dashboard in place, these problems can now be solved quickly and efficiently when pumping the metrics you’re already tracking into a visual display. Don’t wait… go now and get your team’s dashboard established, so you can start winning big!
Are you already using a business intelligence dashboard? What other solutions have you found dashboards helpful in finding? We’d love to hear.