In today’s article, we will actually know about how we can monitor our business performance. If you are running a business, you may hear the term KPI. KPI means Key Performance Indicator. This is a type of measurement that can evaluate the different type of performance of your business. Many organizations provide easy to use online tools to monitor the KPI of your business. These tools are generally referred as Online Business Dashboard. An Online Business Dashboard can be very beneficial and time-saving way to track your business growth.
What is Online Business Dashboard?
Online business dashboard basically is a tool for information management which helps to track of metrics, KPIs, and all other key data related to any business, any particular department or any specific process. In easier words, with the help of online business dashboard, a business or organizations can actually measure the current performing status of their business. Sometimes it also recognized by other names like KPI Dashboard or Executive Dashboard. But concept wise all are same.
Basically, there are two types of the online business dashboard. One is Analytical Dashboards and the second one is Operational Dashboards.
1) Analytical Dashboards:
With the help of analytical dashboard tool, executives and senior team members can actually get assistance in creating targets and goals on the basis of the volume of data they collected over the time. Along with that it also helps to take decisions regarding what actually happened and why happened. And after knowing these, it helps them determine and passing out information what they have actually needed to implement the appropriate changes in their business process.
2) Operational Dashboards:
The operational dashboard is basically being operated by department managers and front-line workers for monitoring the KPIs and the other performance metrics. By using the operational dashboard, users get the power to deal with the current information of your business, get alerts for maintaining your business, and also the potentiality to identify operational issues whenever it happens.
How can an Online Business Dashboard Benefit your Business?
First of all, all business dashboards are not good. So choosing a good dashboard tool is very essential. The following points will give you an idea how you and your business can be benefited by a good Online Business Dashboard:
- A good dashboard always helps their users with clear and colorful graphic user interfaces. Because by doing this it will help their users to understand and evaluate very easily even a very complex data. An easy evaluating data will always help to drives fact based very easily which in return will help you to take the decision very fast without wasting much time.
- We all know that data is considered to be the most important and valuable assets for any business. So leveraging it can really take out our lots of time and money. So here what a good KPIs dashboard can help us by giving us to gain good insight which can perform the job of leveraging in a much better way.
- A good KPIs dashboard can help us by providing the real-time data analytics on just one screen. In short, it can help us to save our lots of time by not letting us flip between screens, not by giving us the headache of finding out databases, and by not letting us sign into multiple analytics applications.
- With the help of a good dashboard we can see the current performance of our business and as a result of that, we can improve it by creating a strong foundation for having good future communications. So for an example, you can take the instance where the sales and the marketing need to be in a good alignment for getting a quality customer for making any business successful. So dashboards will help us to serve the work of surface metrics which in return will work more relevantly just like a team.
- A successful dashboard will always provide you with an exact image of every important aspect of your business so that you can take your decision at a right time. This aspect wills definitely going to include real-time metrics and obviously the KPIs from different data sourcing units, markets and even from any departments. So as a result of that the users will always get the chance to see the exact positions of their business.
- Last but not the least, an effective dashboard will not only present you with historical and real-time data but also will give you the chance to see the insight problems so that you can take immediate steps in solving those issues. So a good and effective dashboard software are those who always keeps their client notified of every exact position of their business so that you can keep alert for every metrics positions of your organizations.
For your added information I have found and would like to recommend Business Dashboard by Cyfe.com. The features of Cyfe are really exciting as well as it has the ability to prove very much useful for your business. Let’s check:
- This tool has the power of monitoring multiple departments and websites.
- Using their pre-built widgets you can pool data from all popular 3rd party services like Salesforce or Google.
- It provides custom widgets and Push API to connect to your company database in a secured way.
- You can share your dashboard and real-time reports with your management team, customers and with anybody else.
- Cyfe store and archive old historical data of your company and you can access it anytime.
- You can download or export date in formats like PNG, JPEG, PDF, and CSV formats.
- There are ample of customization options available to make your dashboard personalized for your business.
- Cyfe comes with a free version with fewer options and a premium version with all features. The premium packages will cost you $19.00 per month for monthly subscription or $14.00 if you go for a yearly subscription.
So an organization who uses a good and effective dashboard often feels very much stronger and confident in taking much better decisions. They can handle any difficult problems as soon as it arises in their business. So go and keep confident by getting help from a good KPI Dashboard for your business.
Are you already using a KPI Dashboard? Please share your experience with us by adding your valuable comments using the below comment form.