It’s 2018. So why are we still talking about KPI Dashboards?
The answer is simple. Business executives today are still struggling with getting all of their siloed business data in one place where they can easily get insights across sales, marketing, customer success, HR, technology, etc.
And actually, the problem is getting worse. There’s more and more data than ever, with companies using an ever increasing number of tools and cloud services to run their businesses. In today’s always on, constantly changing world, we’re seeing more and more business users looking for simple, easy to use, high productivity tools that help them get their jobs done better and faster.
So how should business executives and department managers stay on top of their lines of business without having to constantly involve IT? By investing in easy to use, automated KPI dashboards.
Why KPI Dashboards Matter
KPI dashboards provide decision makers in your organization with an accessible, easy to understand, real-time view of how critical parts of your organization are performing.
First of all, a KPI dashboard will enable you to pull all of your data into one place – saving considerable amounts of time, and frustration, by eliminating the need to log into multiple cloud services and enterprise systems in order to cobble together a view of your business. Most of the time, managers don’t have the bandwidth or motivation to learn the unique reporting tools of each system or to deal with the constant exports and data gathering required to manually pull insights together.
Secondly, KPI dashboards can be scheduled to automatically update from each of the underlying data sources, removing the risk of outdated data when considering an important business decision. Well built KPI dashboards ensure that everyone is looking at one, updated, single source of truth in order to ensure critical decisions can be made in a well-informed and efficient manner.
Lastly, one of the most important benefits of building out KPI dashboards for your organization is the added transparency and accountability this lends to your team. Data dashboards can build a culture of transparency by ensuring that all team members, across all departments, are able to see how key performance indicators and important metrics are trending in your organization. Sales teams can leverage KPI dashboards during their sales meetings to ensure pipelines are full and quotas are on track to be met. Marketing teams can utilize these data dashboards to ensure that campaigns are performing optimally to ensure ROI on invested spend. Management teams can review executive dashboards during Monday morning meetings to ensure that the business is performing to hit quarterly or annual targets.
How to Create Effective KPI Dashboards
Given the benefits of a well-built KPI dashboard for your organization, it’s important to understand how to create high performing dashboards.
Ease of Use
With many of the data dashboard solutions in the market, it’s too difficult to create dashboards from your business data. You either need a large upfront investment in both dollars and contractual obligations, or you need IT or data analysts to get involved in order to deal with external data warehouses, ETL processes, and other data ingestion processes. By and large, most organizations are best when they adopt simple, easy to use, reporting and dashboard software like DataHero in order to quickly and easily import their data, create charts, and build KPI dashboards with a few clicks.
Depth of Insights
Another critical element here is to ensure that you can dive into the details of your KPI metrics in order to understand what’s driving your business forward. It’s often not enough just to put a single number of simple chart on a series of executive dashboards or line of business reports that actually drives meaningful insights from your team. All too often, a simple templated dashboard solution can lead team members to ignore metrics they’ve become accustomed to. That’s where having the ability to segment your data, combine data sources, and slice and dice your data in order to create dynamic charts can really add value to your team’s understanding of their business and impact.
Sharing and Exporting Options
Once you’ve created your data dashboard, it’s important to be able to easily share your insights with teams and/or clients. Indeed, different end users may want to consume this information in different ways and it may be equally important to be able to export your executive dashboards as a PDF to be sent with a weekly calendar invite, as it is to have separate view-only accounts for dashboard viewing only. Having team sharing and control capabilities is important to ensure that the right information is easily accessible to the right folks, all the time.
At DataHero, we build easy to use reporting and KPI dashboard software so business users can get insights faster and share them with teams and clients. Sign up for a free 14 day trial to take a look and let us know if you have any questions. Happy dashboarding!
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