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A company's strategic decision-making process is complex and requires access to a variety of information. Understanding how the entire organization or specific business areas are performing can be a challenge. Today's business intelligence tools and IT solutions help analyze data from various sources, transforming it into specific business information. BI systems facilitate management and business processes by clearly presenting data from corporate data warehouses, information systems (such as CRM or ERP) and external sources.
A management dashboard, also known as a dashboard, is a tool that resembles a dashboard in a car or a dashboard in an airplane. It is used to present key information and indicators to decision makers in an organization. With a dashboard, decision-makers can assess the company's situation, monitor business processes and Key Performance Indicators (KPIs) at a glance. This tool acts as an organizational "magnifying glass" as it helps the organization move from collecting data to analyzing it accurately and transforming it into business value.
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Management dashboards, also known as dashboards, have their roots in the 1980s and have evolved with the development of business intelligence tools. They are derived from decision support information systems such as DSS (Decision Support Systems), EIS (Executive Information Systems) and MIS (Management Information Systems). Advanced analytical solutions based on data warehouses and OLAP (OnLine Analytical Processing) technology emerged in the 1990s, which was also when the term Business Intelligence was born, first used by Howard Dresner in 1989.
As the BI market develops and technology advances, dashboards have become more sophisticated and interactive. There are many types of dashboards, depending on the type of information presented, the purpose of creation and the target audience. It is important that dashboards are tailored to users' needs. See what is the sales process
Management dashboards can be divided into three main categories:
Operational dashboards are designed to monitor current events and answer the question, "what's happening now?" They are used to track real-time or transactional data in the context of key performance indicators (KPIs) and ratios. On operational dashboards, data is often updated in real time or at short intervals. See how to implement CRM in company
The analytics dashboard is designed for big data analysis. It enables analysts to study trends, forecast performance, discover valuable insights, and set goals based on analysis of historical data.
Strategy dashboards are used by executives to monitor key KPIs. The data presented on these dashboards is updated less frequently than on other types of dashboards and refreshes once a day. This helps executives maintain control over important metrics. Strategy dashboards also often show results over specific periods of time, such as a month, quarter or year.
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Studies show that as much as 87% of information in the brain is processed by the sense of sight, 10% by the sense of hearing, and the remaining 3% by the other senses
In visual communication, especially in the context of a dashboard, it is important to understand that the human brain processes visual information much faster than text or sound. Studies indicate that as much as 87% of information in the brain is processed by the sense of sight, 10% by the sense of hearing, and the remaining 3% by the other senses. Therefore, proper data visualization plays a key role in effectively communicating information through dashboards. See also what is the sales process
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The most popular forms of data visualization are various types of charts, such as bar, line and pie charts, tables, histograms, maps (e.g. heat, spatial and logical), controls and indicators. The choice of the appropriate form depends on the type of information you want to convey and the preferences of your audience. It is important that the data visualization is clear, transparent and focused on key information to help users understand the data presented.
A well-composed dashboard has many key elements, not only those related to graphics, and is characterized by certain distinctive features. Two abbreviations are often found in the literature to describe an excellent dashboard: SMART and IMPACT, which provide a comprehensive definition of an excellent management panel.
The first of these acronyms, SMART, includes features such as:
S – Synergic
(ergonomics and effectiveness of visual presentation, combination of information from different sources)
M – Monitor KPIs
(focus on key indicators to enable effective decisions)
A – Accurate
(providing information and conclusions based on reliable and verified data)
R – Responsive
(tracking exceedances of predetermined thresholds and deviations from assumed values)
T – Timely
(availability of information and conclusions based on the most recent data)
Certainly, a "smart" executive dashboard significantly facilitates the decision-making process in an organization, but to become fully effective, it should also meet several other key characteristics, described by the second acronym - IMPACT:
I – Interactive
(Ability to analyze data more closely and obtain more detailed information)
M – More Data History
(ability to monitor trends based on historical data)
P – Personalized
(presentation of relevant data from the perspective of the recipient of a given dashboard)
A – Analytical
(ability to visually monitor changes in the context of different decision-making options, compare and contrast data)
C – Collaborative
(simplified communication and cooperation)
T – Trackabillity
(possibility of individual adjustment of tracked parameters, relevant to a particular recipient)
If you think that the dashboards offered by off-the-shelf CRM tools do not meet all your needs and you intend to build your own dashboard from scratch collecting data from different places into one report, we have some valuable tips for you! There are a whole bunch of mistakes that can be made when creating management dashboards. Thus, it is necessary to follow some basic rules and tips.
Creating a dashboard is similar to planning a trip: it's important that you have a clearly defined destination so you know how to get there.
In design language, this means that you need to collect information from future dashboard users to customize the dashboard. Key information to collect includes:
After gathering information from users and determining their needs, it's time for a brainstorming session with the project team. The goal of this session is to develop a strategy on how to create a dashboard that will meet users' expectations and help them make strategic decisions.
Here are the key questions that should be considered when brainstorming:
The answers to these questions will help determine what specific elements should be included in the dashboard design and what actions need to be taken to make it happen. It is important that the entire team has clear goals and strategy in order to achieve success in dashboard development.
Storyboarding is a design stage that aims to determine how the dashboard will work and accomplish the tasks set by users. These are the questions that the storyboard should provide answers to:
Storyboard helps you understand how users will interact with the dashboard and what features and actions are needed to meet their needs. This is a key step in the dashboard design process, and it allows you to determine precisely how the dashboard will work in practice.
When laying out your dashboard at this stage of the project, there are a few key elements to consider that will give it the right look and structure. Here are examples of elements you can customize when shaping your dashboard:
The right layout, design and aesthetics of the dashboard are important to ensure a pleasant experience for users and to make it easy for them to use the data analysis tool.
Accumulated knowledge of user expectations, established goals and thoughtful design are important. However, the true test of a dashboard's effectiveness is feedback from end users and team members. Their feedback and comments are a valuable source of information on how the dashboard meets their needs and what, if any, weaknesses it may have. Analyzing the feedback allows you to make the necessary corrections and adjustments to ensure that the dashboard truly serves the organization's goals and users. This is a key step to create an effective and useful instrument for data analysis.
The amount of work needed at this stage can vary considerably, depending on how detailed and careful the previous four stages were.
If there are not many comments or suggestions during the feedback collection process, this stage can be short. However, if there are a lot of comments or suggestions that require significant changes, this process may become longer to ensure that the final product meets expectations and is useful to users.
In any case, it's important to be diligent and flexible in customizing the dashboard to achieve success.
A management dashboard can take many forms - it can be a single view of data or a set of multiple tabs. It is the place where a manager has access to all the key indicators and information that are relevant to him. In the example below, we show a dashboard in a CRM system that is extensive and consists of several tabs with different data.
The first example shows the dashboard owner's activities. The user has access to the calendar, task list and information about the level of achievement of his sales goals.
The second touchdown contains information on sales department activity.
The third example shows the results of a sales campaign.
The next example shows a dashboard that monitors sales performance.
Your manager's dashboard in CRM should contain key metrics and information that will enable you to effectively monitor your business and make decisions. Here are some items that can be included on the first tab of your manager's dashboard:
Remember that the dashboard should be personalized to your needs and specific business context. Choose the elements that are most important to you and your team to effectively manage the business and make decisions.
The optimized dashboard presents only key data, has a clear and attractive design, allowing you to understand the company's situation at a glance. It is quick to create and easy to modify.
Remember that there is no universal recipe for a perfect dashboard. Its shape always depends on your specific requirements and goals.
Key performance indicators (KPIs) play an extremely important role in web analytics, as in other areas of our lives. They help us set goals and track our effectiveness in achieving those goals in the context of operations. Of course, to use KPIs effectively, we need to understand exactly what they measure and what metrics are relevant to us.
The reality is that in web analytics we have a huge amount of data to analyze, but due to limited resources and time, we can't pay attention to everything. Therefore, KPIs help us focus on the most important metrics that matter most to our goals. It's also worth remembering that you need the right tools for reliable analysis, both quantitative, such as Google Analytics, and qualitative.
Using KPIs is a key step in monitoring and improving our online operations.
An article from York University's Department of Mathematics and Statistics describes data visualization as the process of converting abstract information into graphical form. Business intelligence tools such as Tableau enable the creation of intuitive data visualizations.
They allow users to easily connect to various data sources and present that data in graphical form. Mobile apps (which a growing number of CRM publishers are opting for) available for iOS and Android platforms extend this capability to mobile devices, allowing users to use data anywhere.
Dashboards allow you to aggregate data from multiple sources, which not only streamlines your work, but also allows you to access all your data in one place. This, in turn, opens the door to comprehensive data analysis, uncovering previously unseen relationships and better understanding business correlations. Dashboard with the right design contribute to productivity and profits by making data-driven decisions, monitoring customers in real time and creating forecasts.
One of the main advantages of dashboards is their flexibility, allowing them to be tailored to individual needs and business goals. Centralizing and simplifying access to information is another benefit that saves time, money and contributes to employee well-being.
YES! It's a tool that presents relevant information and enables quick decision-making. Whether you are managing strategic issues in a large enterprise or managing the day-to-day operations of a smaller team, this type of solution is right for you.
YES! POWERCRM includes a built-in module for dashboard construction. Not only will you comfortably use it at work at your computer, but you can also take it on a business trip conveniently controlling your company's processes from a mobile device application.
Do you often find yourself having to move data between different files when you work in Excel? Do you find that manually transcribing information into spreadsheets is tedious and time-consuming? Does using separate applications for calendar management, reporting and communication make your company's processes inefficient?
CRM systems solve these problems by allowing you to concentrate all these functions in one place. When you choose a CRM, you get a tool that helps you optimize sales processes, monitor employee progress, create detailed reports, and plan events and tasks. CRM is like a compendium of different capabilities, organized in one clear interface. With this consolidation of tools, you can expand your business opportunities and focus on new prospects.
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