Business Dashboard Software – Will It Benefit Your Company?
written by: John Daniel
Does your IT firm require a Business Dashboard Software? This is a question that you have probably been asking yourself time and again as an IT manager. You must have noticed a rise in their popularity, which has got you wondering whether your organization can actually benefit from such an investment.
First things first, let’s explore what a business dashboard really is and how it works.
A business dashboard software, also known as a business intelligence dashboard, is simply a data visualization tool that displays the current status of metrics as well as the key performance indicators(KPIs) for a particular organization, department, or for a specific process. This tool consolidates and arranges numbers, metrics, and in some cases, performance scorecards on a single screen.
At a glance, the dashboard offers a wide array of important business insights. It gives specific signs about the business, allowing the users to know that something is either right or wrong. It’s a powerful tool that is used to define metrics, proactively define problems, and set performance goals. It’s simply a vital tool that notifies managers and stakeholders whether their business needs maintenance or if it’s going in the right direction or not.
Some essential features of business dashboard software include a customized interface with the ability to pull real-time data from a wide range of resources.
Two Types Of Business Dashboards
There are two different types of business dashboards. Each one of them is used by a company for a specific purpose.
These dashboards are basically designed for company executives and senior leaders to help them establish the targets and goals that are based on the insights from a specific volume of data that has been collected over a certain period. They help company decision makers understand how a certain event occurred, why it happened and the guidance they need to make the necessary changes.
Operational business dashboards are utilized by a company’s departmental managers and front-line workers to effectively monitor the key performance indicators as well as other performance metrics. They give users the ultimate power to go through the current information, receive alerts, and also identify potential operation issues before they happen.
Can Business Dashboard Software Actually Benefit your IT Firm?
The key challenge facing modern IT businesses today is managing and extracting value from their large amounts of data. Majority of them are dealing with data overload even as they continuously look for effective ways to simplify data analysis and distribution.
IT dashboards are now here to simplify your work as a manager simply because they are remarkable information management tools.
The way an auto dashboard helps drivers to focus on safe operation of their vehicles and easily navigate various road hazards is also true for IT dashboards. They simplify complex business processes into small, manageable bits of information, helping them focus on the day to day operations of the business.
Now, with the right dashboard software, there are numerous benefits to your organization. They include:
1. Data Consolidation
With a business dashboard, you don’t have to keep flipping between screens or searching through a large number of databases for specific data. This is because it provides real-time data analytics on a single screen, saving you time.
2. Increases the Value of Data
While data is one of the most valuable assets for an IT company, leveraging becomes hard as it’s often too expensive and time-consuming.
Thanks to real-time dashboards, every member of your firm can gain the insights useful for proper job performance. In addition, a dashboard allows you to highlight your brand and helps you deliver data to your clients with ease.
3. Real-time Decision-Making
With their colourful graphic user-friendly interface, you can understand and easily evaluate complex data, thus allowing for real-time decision making.
In other words, you are able to do a statistical analysis of the business’s performance and decide whether or not to implement a plan.
4. Ability to Solve Problems Quickly
A well-designed dashboard not only makes metric reporting on real-time and historical data, but also reveals problematic areas, so you are able to handle them proactively.
Research has shown that employees who use metric business dashboards make informed decisions, feel empowered and motivated, and are able to handle challenges as they come.
5. Better Future Plans
Since a dashboard gives you a detailed snapshot of each and every essential metric that you need in decision making, including key performance indicators, from a range of data sources, real-time metrics, departments, and markets, you are able to see the bigger picture and therefore make better future plans.
Features of Well-designed Business Dashboard Software
As an IT manager looking forward to having effective dashboard solutions for your company, it’s important to ensure that you are investing in the best of the best.
The most effective and efficient dashboard software is one that promotes action and changes behaviour. Considering that there are numerous options in the market, it’s important to search carefully so as not to end up with one that is sluggish, bloated, and difficult to use.
The right dashboard software should be well-designed and provide the following:
· Data Consolidation
It should have the ability to combine multiple data sources for easier access.
· Good Interactivity
It should have important tools such as highlighting, filtering for good interaction.
It should allow easy sharing with support for the existing security.
· Best Visual Analysis Practices
A well-designed dashboard should provide the right visual analysis practices for better and clear understanding, in addition to good communication.
It’s amazing how a business dashboard can provide an effective solution to the large amounts of data that an IT firm has to deal with day in day out. It helps save time and money for the company by making everything easy to observe and understand with its real-time metrics.
Considering that it’s an important investment, it’s crucial that you choose a dashboard that is perfectly tailored to suit the needs of your company. Choose one that has metrics that are meaningful and useful to your target audience.The modern business landscape has evolved, and IT managers need to keep in-step with these changes in a bid to remain relevant.
About eMite: eMite is the result of 80+ man-years of development effort. The core platform has been created in Microsoft Technologies from the ground up and offers an open interface for data onboarding that is technology independent.