Data has never now than ever been more readily accessible. With the sheer amount of data, it is important that best practices are adopted to ensure businesses are making the right sense out of it all.
A business intelligence dashboard (BI dashboard) is an information management tool that uses visualisations to display the status of data. From business analytics metrics, key performance indicators (KPIs) and other important data points for an organisation, department, team or process – BI dashboards consolidate data and analyse it better. They are basically a tech-driven approach used to make sense of all your data, with clear visual displays of information generating actionable insights. We understand the advantages a BI dashboard can bring a company if properly implemented, but how do you know if your BI dashboard is working for you? Here are five signs you should look out for.
Simple to use
Although highly sophisticated and dynamic, the dashboard should be simple to use. They should require little or no IT skills, as great BI dashboards will provide tutorials or expert customer service care.
Simple to understand
A good dashboard design presents business insights derived from data in a way that’s easy to understand. Their visual nature helps in spotting trends and patterns that could otherwise remain unseen. Therefore, better dashboard components should provide different overall views of the data and allow users to drill down to see underlying data as well.
The dashboard should be able to let anyone work remotely as better BI systems usually operate on any device connected to the internet. Due to this connectivity, they can foster collaboration due to their report sharing features.
BI dashboards are cost-effective as they minimise the potential for human error and streamline the decision-making processes dependent on data interpretation.
It can integrate
Allowing for integrations of different systems used by your business, such as back-end accounting and inventory is a must. This should be customisable, allowing your business to bring all the data you need from your most used tools in the form of a live dashboard, without the need for manual spreadsheet handling. This ensures BI dashboard data is continuously kept current.
BI dashboards should enable companies to make number-intensive data easily comprehensible and useable for nontechnical decision-makers. While potential drawbacks do exist, BI dashboards don’t necessarily result from the design of the software, but rather from how they are used, the perceived expense and level of difficulty of installing them. BI dashboards are effective tools for fostering growth in the digital age.
Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.