How organizations use dashboards for business intelligence?

Business Intelligence has been trending in the last years as it is the way to follow strategies for analyzing data and presenting important information inside companies. Executives and consultants use BI to make the analytic results available and make operational decisions.

What is a Business Intelligence Dashboard?

A business intelligence dashboard is a tool that lets users monitor, examine, and report on key performance indicators and other variables. Data is frequently represented in charts, graphs, and maps, making it easier for stakeholders to comprehend, share and work together on the information.

A business intelligence strategy for a corporation must include dashboards. They ought to be created with the specific goal of analyzing data from important datasets to enhance company decisions. Modern BI tools can access, analyze, present, and share data via web-based dashboards in place of analysts manually assembling spreadsheets. Using a robust, automated business intelligence platform, stakeholders can create dashboards to examine, draw conclusions, and take action.

Key features of a Business Intelligence Dashboard

There are essential values that dashboards must have to apply to the concept of business intelligence:

• Attractive and interactive pages
• Less text, more graphics
• Real-time data
• Online representation and sharing across multiple users
• Easy report creation
• Automatized features.

Benefits of using BI Dashboards

BI Dashboards allow organizations to analyze multiple and complex data through visual graphics and tables, improving the company’s performance and allowing non-technical users to get understandable information.

Businesses may notice changes and trends more rapidly with the use of a BI dashboard. This can assist them in spotting possible issues and making the required modifications before they turn into significant problems. BI dashboards help establish a secure environment for data sharing. This can support ensuring the accuracy of all data.

Analytics can be utilized to monitor how well each department is performing and pinpoint development opportunities. Decisions can then be made using this information to raise the company’s overall effectiveness.

What role do Dashboards play in Business Intelligence?

Dashboards play a vital role inside companies as they share insights with managers and executives daily. Before BI dashboards were implemented, natural dashboards were created with less information and basic charts, and they were not as accurate as the companies needed.

Since then, technology has offered great features along with the creation of BI dashboards. They are cheaper and easier to implement, and the best part is that they can display specific information for any department.

In some Power BI dashboards examples, we can see how simple it is to see internal projects progress with simple charts and lists:

Today, employees are required to control necessary performance measures connected to the corporate objectives and KPIs at every level of their job responsibilities. Businesses need this kind of quantitative and qualitative evaluation of valuable data from numerous sources.

For example, in the following dashboard, we can see the average time that our consultants take to resolve cases. This gives us an idea of how consultants are performing and how much time they are taking to offer successful answers to our clients:

How do companies use dashboards?

Dashboards provide a way to assemble all the data from an organization in a safe spot. Through data visualization tools like charts and graphs, dashboards are intended to provide a thorough picture of business performance.

At a basic level, business dashboards display key performance indicators and provide an overview of how your business is doing. It shows whether your performance is working, whether you’re on track to meet your goals, and whether your business is on the right track. You can get instant clues from your business dashboard if something goes wrong. Business dashboards can provide early warning of actions needed to resolve critical problems.

With the help of BI dashboards, companies can track better metrics, resulting in increased productivity and profitability. Dashboards communicate critical information that helps your team make decisions about your company and projects.

Nowadays, companies prefer to use dashboards rather than simple reports because they allow them to control specific and global parameters inside the company’s performance and use them across multiple teams.

How to make the most out of your dashboards

If you’re looking to build a dashboard that allows you to control and verify different factors inside your company, you might want to take some things into account:

• Be sure to know what you want to measure, don’t use all the data available in your system; it’ll probably rely on misunderstandings. Effective dashboards are meant to be consistent and visual.
• Build easy dashboards to understand; a good dashboard allows you to compare data through different timeframes, letting people get data without hesitation.
• Automatize your dashboards and use apps that allow you to refresh data automatically with schedules.
• Allow other users to share and see your content; it creates expectations and confidence inside the companies. But don’t go fast; remember that dashboards always refer to a specific target of people.
• Involve your teamwork and let them see your updates in the dashboards; you can get feedback and improve things inside. Don’t assume that you understand the needs of the team.
• Highlight essential data inside the dashboards, for example: exceeded parameters. But be sure to control the colors inside and avoid making the dashboard a painted picture with multiple colors. It might distract the users who see it.
• Your business dashboards should be user-friendly, and they should be shareable across multiple teams allowing everyone to understand them.
• Try to review your data periodically. If possible, every day.

Some of these pieces of advice might help when building great dashboards. When creating dashboards, you’re an artist and have to let your creativity rumble over it. Always remember that dashboards are critically important inside companies, as they let leaders and employees take control of warnings and decide which steps to follow when performing decisions.