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Posted: May 15th, 2022
Class: Business Knowledge System
unit: Dashboards
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Dashboards U4db4
They are information management tools that enable one to visualize the key performance indicators and other organized data of an organization. They can be customized to fulfill the needs of a specific company. It provides a central point for businesses to monitor and analyze their output activity. Since it enables multiple tracking of data sources. Types of dashboards include the operational dashboard. They have a metric operation that tracks the real-time performances of a business. They track the daily changing operations of a business. The analytical dashboard is used to analyze a large amount of data and they showcase business trends and predict outcomes. Their analysis influences the future decision-making process of a company. The strategic dashboards are used to report the status of the key performance indicators, to align the business performance with its strategies (Durcevic, 2019).
Dashboards provide data transparency since they enable access to all business metrics making it understandable. It also enables easy access to data since it gathers data from multiple sources into one place. Hence one can easily access this detailed information when needed. Since it showcases the performance of not only the company but also individual departments, this provides a better ground for the decision-making process that will improve business productivity. It promotes accountability since with the negative information on business performance one can establish ways to overcome these weaknesses. Company’s need dashboards when they have no idea on how to improve their company but can see it’s potential. When they cannot interpret information obtained from monitoring their business. When the business performance is deteriorating in comparison to the competitors and when there is difficulty in accessing data since they exist in multiple sources. They are also known as progress reports (Stangarone, 2019).
Reference
Durcevic, S. (2019, June 5). What Is A Data Dashboard? See The Definition, Meaning & Examples. Retrieved from https://www.datapine.com/blog/data-dashboards-definition-examples-templates/
Stangarone, J. (2019, May 22). The 3 most important aspects of a business dashboard. Retrieved from https://www.mrc-productivity.com/blog/2016/06/the-3-most-important-aspects-of-a-business-dashboard-2/
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