Why dashboards are vital to your business

Why dashboards are vital to your business

People are visual creatures, which means we interpret visual data better than written words. That’s why most businesses turn to dashboards as a business intelligence tool to present data in a way that’s easy to understand. Dashboards have become a critical part of the analytics process. Here are some common uses of dashboards across various business functions.

Marketing insights

An organization's marketing department typically analyzes a significant amount of data from various channels. Whether the purpose is to forecast monthly sales, predict trends, or build marketing strategies, marketing officers use dashboards to compare, sort, and analyze raw data to churn out meaningful information presented in an easy-to-understand format. This allows key decision makers to easily make decisions using that information.

Tracking sales opportunities

Sales dashboards are perfect for tracking products and services. They help you identify sales opportunities by monitoring top-selling products and comparing the growth in revenue on a periodical basis. They sync to your raw data, so your charts are always up to date, thus eliminating the need to spend hours manually entering and preparing sales reports and charts.

Social media management

Social media management is more than just posting regularly on your business’s social media accounts. And in most cases, your social media platform’s default dashboard doesn’t give you deep insight into your social media campaigns. What’s more, managing multiple social media accounts can quickly become a cumbersome process since you have to use several login credentials. Instead, you can manage your accounts all at once through a comprehensive social media dashboard, saving you valuable time and effort.

Financial reports

Presenting financial data is so complex that it often leads to misinterpretation and misunderstanding of critical data. Dashboards make creating financial reports much easier, and financial analysts can take advantage of dashboards to display sensitive data in a comprehensible graphical format — be it customer invoices, progress toward revenue goals, or business expenses.

Project collaboration

Businesses of all sizes require their employees to collaborate on projects, whether on-site or online. Project supervisors need to get their teams together to give them projects’ requirements, deadlines, and responsibilities, and to get progress updates. With the help of project collaboration dashboards, members will see the complete workflow of the project, allowing for a more efficient and collaborative working environment.

Dashboards eliminate the complications of presenting complex business data and make your team more efficient. If you’re looking to implement dashboards and other cutting-edge tools to make your job easier, contact our consultants today.

Published with permission from TechAdvisory.org. Source.


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