Types Of Business Dashboards: A Blog About The Different Types Of Dashboards And How They Can Be Used By Business

To stay ahead in the game, businesses of all sizes, including start-ups need to monitor and analyze insights about their business performance and other KPIs. So, here comes the need to create dashboards. They provide insight to the managers, stakeholders, or even higher management into their various department operations, and performance.

Creating an actionable dashboard also allows for reviewing the performance or showcasing results in a compact and meaningful manner. Tools such as Amazon Quicksight, Tableau, Power BI, and Google Data Studio are very popular among developers for dashboarding.

Let us gain a complete understanding of the dashboards through this article. We will also explore the differences between these dashboards and how they can be utilized effectively

Keep reading through..

What is a Dashboard?

Dashboards in business are visual representations of key performance indicators (KPIs) and other relevant data that help managers and executives monitor and analyze organizational performance. Typically, a dashboard will present data in the form of graphs, charts, and other visual aids that allow users to quickly and easily identify trends, patterns, and anomalies.

You can use the dashboard to monitor various metrics such as revenue, sales, customer satisfaction, inventory levels, etc. They are beneficial for executives and managers who need to make data-driven decisions quickly, as they provide actionable, real-time insight into organizational health and performance.

How to select a dashboard for the business requirement?

When selecting a dashboard for a business requirement, there are several factors to consider. Here are some key steps to follow:

The first step is to identify what you want to achieve through the dashboard. Is it to monitor financial performance, track customer behavior, or manage operational processes? Having a clear understanding of your business goals and objectives will help you choose a dashboard that aligns with your needs.

• Identify your business goals and objectives: The first step is to identify what you want to achieve through the dashboard. Is it to monitor financial performance, track customer behavior, or manage operational processes? Having a clear understanding of your business goals and objectives will help you choose a dashboard that aligns with your needs.
• Identify key performance indicators (KPIs): Determine which metrics are critical to your business's success. Identify the KPIs you want to track, monitor, and report on. This will help you select a dashboard that is tailored to your specific requirements.
• Evaluate the features and capabilities of the dashboard: Consider the features and capabilities of the dashboard, including data visualization tools, reporting capabilities, customization options, and integration with other systems. Determine if the dashboard can provide the level of detail and analysis you need to make informed decisions.
• Evaluate the usability of the dashboard: Consider the usability of the dashboard, including the user interface, navigation, and ease of use. Select a dashboard that is easy to use and can be quickly adopted by your team
• Consider scalability and flexibility: Consider whether the dashboard can be customized or modified to meet changing requirements.

Get Data & Analytics Services for your business from ITTStar here.

Types of Dashboards

Dashboards are an essential tool for business decision-makers. They offer a clear overview of the organization's performance. However, it's important to understand that not all dashboards are created equal.

There are four primary types of dashboards: strategic, analytical, operational, and tactical. Each of these dashboards serves a specific purpose and provides distinct insights.

Let us understand the utility of each type of dashboard in detail.

Strategic Dashboards

Strategic dashboards are reporting tools that are designed to monitor long-term company strategy as it provides high-level insights into an organization's performance. These dashboards typically focus on key performance indicators (KPIs) that are critical to the organization's success. These KPIs may include metrics such as revenue growth, customer acquisition, and market share.

Strategic dashboards are designed to provide decision-makers with a quick snapshot of the organization's overall health, and they are often used to make long-term strategic decisions. It is the best kind of dashboard to monitor company strategy, in terms of efficiency and budget.

Who uses a strategic dashboard?

The strategic dashboard is suitable for corporate executives, business owners, CEOs, and vice presidents. It is most commonly used to track key performance indicators against company-wide strategic goals.

Analytical Dashboards

Analytical dashboards are designed to provide in-depth insights into an organization's performance. These dashboards typically provide more detailed information than strategic dashboards and are used to identify trends and patterns in the data.

These dashboards can also enable you to visualize and tackle complex information which will result in easy analysis of the business analytics.

Who uses an analytical dashboard?

Analytical dashboards are often used by data analysts and business intelligence teams to make data-driven decisions. These dashboards may include data visualization tools such as charts, graphs, and heat maps.

Operational Dashboards

Operational dashboards are designed to provide real-time insights into an organization's performance. These dashboards typically focus on operational metrics such as inventory levels, production output, and customer service response times. 

Who uses an operational dashboard?

Operational dashboards are used by operations managers or business owners to monitor and manage day-to-day operations. They let you track KPIs effortlessly. These dashboards are often updated in real-time and may include alerts to notify workers of potential issues.

Tactical Dashboards

Tactical dashboards are designed to monitor and analyze the processes conducted by mid-level management with an emphasis on the analysis. These dashboards provide insights into specific areas of an organization's performance. They are typically used by middle managers to make tactical decisions.

These are detailed dashboards that may include filters such as region data, sales manager for the region, or even product data analytics for geographic locations. These dashboards are used for tracking sales, or other relevant information for different products to compare sales against the competitors.

Who uses a tactical dashboard?

Since tactical dashboards may focus on metrics such as sales performance, marketing campaigns, or employee productivity, they provide managers with the information they need to make informed decisions that impact their specific department.

Dashboards do's and dont's

Dashboards can be powerful tools for organizations as they provide insights into key performance indicators and help decision-makers to make informed decisions. However, there are some dos and don'ts to keep in mind when creating and using dashboards. Here are some important considerations:

Do's:

• Define clear goals and objectives: Identify the specific goals and objectives that the dashboard will help you achieve.
• Keep it simple: Use clear, concise language and avoid cluttering the dashboard with too much information.
• Use data visualization effectively: Use charts, graphs, and other data visualization tools to present data in a clear, visually appealing way.
• Focus on the most important metrics: Identify the most critical metrics to track and prioritize them on the dashboard.
• Make it actionable: Provide actionable insights and recommendations based on the data presented on the dashboard.
• Customize for different users: Customize the dashboard for other users, based on their specific needs and roles within the organization.

Don'ts:

• Overload with information: Avoid including too much information on the dashboard, as it can be overwhelming and difficult to navigate.
• Neglect data quality: Ensure that the data presented on the dashboard is accurate, reliable, and up-to-date.
• Ignore user feedback: Listen to user feedback and make adjustments to the dashboard as needed to improve usability and effectiveness.
• Use it in isolation: The dashboard should be used as part of a broader decision-making process, not in isolation.
• Neglect cybersecurity: Ensure that the dashboard and the data presented on it are secure and protected from cyber threats.

Knowing the audience for your dashboard

When creating a dashboard, it's crucial to identify the target audience who will be using it. The audience for your dashboard may include executives, managers, team leaders, or individual contributors, depending on the specific goals and objectives of the dashboard.

It's essential to understand the needs and priorities of your audience to create a dashboard that is tailored to their specific requirements. By creating a dashboard that meets the needs of your audience, you can ensure that it is effective and provides valuable insights that drive decision-making and improve organizational performance.

Here are some points on identifying the target audience for your dashboard:

• Define the purpose of the dashboard: The purpose of the dashboard will help identify the target audience. Is it to monitor financial performance, track customer behavior, or manage operational processes?
• Know the stakeholders: Identify the key stakeholders who will be using the dashboard. This may include executives, managers, team leaders, or individual contributors.
• Understand their needs: Understand the needs and priorities of your audience. What metrics are important to them? What data do they need to make informed decisions?
• Identify the level of detail required: Determine the level of detail required by your audience. Will they need high-level metrics or more granular data to manage their teams effectively?
• Consider their technical skills: Consider the technical skills of your audience. Will they require a simple and easy-to-use dashboard, or will they need a more complex and detailed dashboard with advanced features?
• Customize the dashboard: Customize the dashboard to meet the specific requirements of your audience. This may include customizing metrics, data analytics tools, and user interface design.
• Implement the feedback: Get feedback from your audience on the dashboard's effectiveness and make adjustments as needed to ensure that it meets their needs.

Conclusion

A dashboard created after performing data analytics for the organization's data should cover the business requirements, and others parameters required for the particular kind of audience. The developers creating the dashboard should also align the data according to the need of the specific department for the effective utilization of the information.

Now that we have covered all the important points regarding selecting the right dashboard, we would like to let you know that ITTStar also provides dashboarding services .

We have a pool of skilled engineers who have helped several businesses around the globe by providing them with actionable insights that have helped them track the performance of their employees, products, and services to stay ahead of the competition.

ITTStar also provides software solutions. Our services range from AI/ML automation, providing analytics and insights, application development, and cloud services. We can also help you with Amazon web services providing reliable and scalable cloud computing solutions.

Get in touch with us to get effective business solutions for your enterprise.

FAQ