For businesses to figure out how they were doing in the past, it took teams of analysts countless hours of skimming through databases and doing tedious manual studies.
But with the rise of the business analytics dashboard, executives, managers, and analysts now have instant access to information about the health of their company. And also any of its sub-units or projects.
A company can set up its business analytics dashboard in almost any way it wants. Dashboards that businesses usually use can be grouped as analytical dashboards, whether they are more focused on operations or strategy. These typically are a part of Business Intelligence dashboard software.
What is an analytics dashboard?
A business analytics dashboard takes data from multiple sources, like spreadsheets and databases, and organizes and displays the most important data for your business in a way that makes it easy to understand at first glance.
This is done by putting together past and present data so users can see how the data has changed over time. It shows this information in easy-to-understand data visualizations, such as charts and graphs, which make it possible to spot trends as they happen over time.
In turn, these trends can help analysts make predictions and encourage business leaders to make decisions based on facts that will help the business do well.
Read: What Elements Form The Basis Of Business Analytics Software?
How do you make a good dashboard for analytics?
A company should think about a few things when making an analytics dashboard or any other kind of dashboard, such as a Business Intelligence dashboard.
1.Who are they
This is easy to do if you have an analytical dashboard.
Data visualizations used to be something that only analysts could understand. But analytical dashboards made with Business Intelligence dashboard tools make it easy for even people who aren't tech-savvy to understand the data. With drill-down features, analytical dashboards are helpful for business users of all skill levels who want to learn more about the data.
This information is then used to make decisions based on facts and help the organization improve. Because of this, the data should also be shown in a way that department managers can understand. They are the ones who have to make decisions based on the analytics dashboard metrics shown as part of the Business Intelligence dashboard software.
2.What are the team’s long-term goals
By writing down the organization's or department's specific goals—like getting more people to visit your website, getting more people to interact with you on social media, converting more leads, or something else—it will be easier to decide which Key Performance Indicators (KPIs) to use as data visualizations on your business analytics dashboard.
Also, you may and probably should have more than one analytics dashboard to focus on a specific part of the organization, like marketing, sales, or digital presence. You may also want to build better business ties using an analytics dashboard. The goals of each of these areas will also need to be considered.
But analysts won't usually look at these analytics dashboards on their own. Instead, they'll put them all together to see what the data says about the big picture and how one part of an organization's operations might affect another.
Analytical dashboards focus more on historical data than other dashboards, like operative dashboards, which show KPIs that are important to the organization's day-to-day operations.
With this in mind, an analytics dashboard should include data from as far back as it makes sense for your business. It should also consider the timescales each chart, graph, or other data visualization should show, considering which timescale is most important for each KPI.
Grow’s analytics and Business Intelligence dashboard can help you focus on the right KPIs to drive organizational efficiency, so choose the correct dashboard. To know more, read, Grow reviews 2022.
This could mean that a data visualization for one KPI shows an overview of the data for the quarter, while another shows how the data has changed over the last year and another over the last 5 years.
Your company can get the business analytics dashboard it needs if you find the right Business Intelligence (BI) vendor to work with.
You can use Grow’s business analytics dashboard to make educated, data-driven decisions that help catapult your company's success in any number of areas, including sales, marketing, and website performance.