Benefits of Business Intelligence Dashboard Best Practices
Top Business Intelligence benefits & dashboard practices use by managers to make quick decisions for the benefits of the company.
It’s about the big picture – measuring processes and their results from inside and outside the company. With BI, it is easier than ever to amass data, as there is indeed a plethora of tools that empower easy visualization. The trend of big data has pushed many businesses to do more BI analysis, and that means business intelligence is a hot ware right now.
A dashboard is a visual display of the most pertinent information required for tracking the pre-defined business objectives to achieve the defined target. They are merged at a single screen showing the data points that are helpful for the organizations or the supporting bodies like IT, HR or Sales. A well-designed dashboard is measured as an integral tool for taking forward the smart strategies and tactical business plans. Business intelligence (BI) reporting tools are mainly used for data visualization such as designing charts and other infographics for building dashboards to display business metrics and key performance indicators (KPI’s). BI assists the enterprises in changing the collective information into knowledge and further changing it into effective planning.
Function and Connections Between Dashboards and Business
In the present scenario, every Business Manager makes use of various tools for tracking the progress and identifying how the business goals are performing and progressing. Dashboards help the workforces at all levels to track their work and provide a glimpse of the assigned tasks.
The prime role of Dashboards in businesses is very crucial. Business dashboards avail numerous measures that give information concerned with business performance. These measures here indicate the KPIs that determine business growth or failure. Presently, most of the enterprises use them for tracking the profits by studying the achievement and revenue forecast during certain quarters of a business year.
Benefits of BI Dashboards
Here are some of the significant benefits of BI Dashboards: -
1. Identification of trend: BI dashboards allows businesses to identify and analyze positive trends concerned with the wealth of business activities and improving negative trends for more enhanced organizational efficiency.
2. Efficiency: For prolific results, decision making always rely on the right data, and the BI dashboard authorizes you to achieve it. A business analytics dashboard improves efficiency by showing up real-time data, which results in informed decisions that catalyze the success of the business.
3. Self-service tool: It is obvious to implement modern business analytics dashboard without the need for specific technical IT skills. As a result, BI offers access to invaluable data-driven insights that people can share easily, providing sheer agility and mobility that traditional data cannot match.
4. Flexibility: Expanding on the previous point, Business Intelligence software means that it’s possible to analyze and access invaluable business insights from numerous devices 24/7, no matter where you are. This level of flexibility and freedom translates to increased productivity and enhanced business intelligence consistently, which is one of the critical ingredients of success.
BI Dashboard Best Practices
Here some of the most essential BI dashboard practices: -
• Identify your reporting requirements
• Design data to avoid clutter
• Know your Dashboard
• Design data with a clear visual order
• Provide data context
• Web-based access
• Choose the right visualizations
• Consider your target audience
• Tell a tale with your KPIs
Applied Best Practices for Business Intelligence Dashboard Designs
BI dashboard is designed in a way to communicate, the key numbers in an easy way while keeping the possibility to drill-down for further details. The dashboards prioritize the practices with the right metrics, avoid clutter and personalizing the content to the reader. Here is an example of BI Dashboards best practices discussed above, applied to a real-life dashboard: -
1. Manufacturing Dashboards:
The dashboard is a mix of insights where you can see all the key ingredients for developing a seamless manufacturing analytics process that will save your unnecessary costs while boosting productivity.
2. Marketing KPI Dashboard
Marketing KPI Dashboard
Our strategic dashboard collects the key financial health indicators for the marketing department. It's a big-picture dashboard which is designed for the executives who put focus on marketing aspects like- impressions, clicks, email open rate, etc. Likewise, the design is very consistent and with several shades that do not clash with each other, the graph and figures are not clutter and follow a very clear vision.
3. Finance Dashboard
BI- Finance dashboard
We have one of the best BI- Finance dashboard which offers- logical visualizations of company's most critical finance data. From this, it is very easy to extract valuable insights at a glance that will help you strengthen efficiencies while capitalizing the strengths. This prolific dashboard for BI comes with all the tools, to make your business efficient and more valuable.
Henceforth, BI Dashboards are handy tools to foster growth in the present scenario. With abilities like- informed decision-making, businesses can continue to advance in this digital era.