A dashboard is a business intelligence tool that allows businesses to track key performance indicators (KPIs). This can be particularly useful for making informed decisions and strategies. Here are some uses of dashboards in real-life business situations.
Business intelligence (BI) tools used to be prohibitively expensive because they required hiring specialists to analyze business data. This is why only large companies could afford them in the past and why small- and medium-sized businesses (SMBs) were hesitant to implement them.
People are visual creatures, which means we interpret visual data better than written words. That’s why most businesses turn to dashboards as a business intelligence tool to present data in a way that’s easy to understand, making dashboards a critical part of the business analytics process.
For years, big companies have been harnessing the power of business intelligence (BI) to improve business performance. And for them, paying experts to analyze large data sets is no issue. It’s different with small- and medium-sized businesses (SMBs). SMBs also store large volumes of data, but many are wary of spending too much on BI. Still, SMBs should leverage BI to gain an edge — fortunately, there’s plenty of budget-friendly business tools and resources available nowadays.
Data dashboards have become increasingly popular for businesses over the past few years. They are a great data visualization tool that gives you an overview of your business at a glance. Dashboards can cater to a wide variety of users, from marketing staff to project managers.