Our Starter Guide to Dashboards explains the different types of dashboards and their features. It also demonstrates how to create one to drive data-driven decisions. To help you design the perfect data dashboard for your business, I have answered many frequently asked questions in our Starter guide to Dashboard Design.
One piece of the puzzle remains uncompleted: An in-depth response to a FAQ: What exactly is a data dashboard?
What is a data dashboard?
Data dashboard meaning: Data dashboard is an information management tools that monitor, analyzes, and displays key performance indicators. A dashboard can be used to monitor the health of your company, department, or specific process.
You can also customize dashboards’ data. A visual dashboard can be customized to meet the needs of each user. Your dashboard could display SaaS analytics if you are a founder or executive. Your dashboard could display digital marketing metrics if you are a digital marketer.
What is behind a dashboard? A dashboard connects to files, attachments, and services, such as HubSpot or Quickbooks. A dashboard converts raw data into something that is easily readable by humans. A dashboard lets you analyze your data in line charts, bubbles, or bar charts, instead of having to search through columns or rows in a spreadsheet.
Why should you use a dashboard?
Dashboards combine data from many sources. A dashboard doesn’t only save time but allows you to see all your data in one place. Your data connection is not another API call. It’s you and your expertise that create the powerful metrics that power your business.
Some may be wondering, “What is the difference between a dashboard or a report?”
Dashboards vs reports: What’s the difference?
What is the difference between a report and a dashboard? Why should you only create reports or invest in dashboards? It’s about shifting from periodic reporting (like quarterly and yearly) to ongoing monitoring (like daily, weekly, or monthly). The most valuable thing about dashboards and reports is how you and/or your team make them work for your benefit.
Similarities between dashboards and reports
- Access to historical data
- Trend analysis to determine what has worked and what hasn’t in the past. This will help you to change your approach for the future
- Bring multiple metrics together
- Visualize your data
Differences between dashboards and reports
- Dashboards can be interactive. You can segment, filter, and visualize your data.
- Dashboards show live, dynamically updated data. Your dashboard data visualization updates as your data source do.
- Reports share data on areas of interest or goals
- Dashboards Monitor Known Goals or Areas of Interest
While there are times and places for reports and dashboards, dashboards are for data-driven teams. Our Starter Guide for Dashboards will help you get started creating a dashboard.
What is the benefit dashboard in business?
Different roles require different dashboards. There is no one-size-fits-all dashboard. Dashboards that are well designed can answer business questions and give insight before your team has to ask.
Use a dashboard to help you manage your business.
- Monitor multiple metrics and KPIs at once
- Easy to read
- Save time by reducing or eliminating manual reporting tasks
- Consistent and timely cross-functional communication
Monitor multiple metrics and KPIs at once
A department’s changes can have an impact on your business. A dashboard makes it much easier to see all your data.
To dig deeper, use a dashboard to your advantage and create a correlation between your KPIs and metrics to see what’s working and what’s not. You can monitor your KPIs and metrics on a single dashboard and adjust your business practices in real-time.
Easy to read
To use and understand data dashboards, you don’t need to be a data analysis dashboard. It should be simple to read dashboards. You can easily identify important data points by using the best practices of dashboard layout. You should design your dashboard so that you, even if you are not in finance or marketing, can still see the information being presented.
Save time by reducing or eliminating manual reporting tasks
It’s no secret: data dashboards save time. Data dashboards are able to pull data from multiple sources and create reports. Dashboards take care of all the hard work!
Make the investment in the time upfront to create and maintain a dashboard that will return 10x its initial cost. Automate the generation of reports using your data from anywhere, anytime.
Consistent and timely cross-functional communication
Dashboards enable everyone within the company to validate and make business decisions and foster greater collaboration across the organization.
Executives and leaders don’t have to ask for data analysis because the data is readily available on a dashboard. Analysts can continue to work while users have access to the data they need. It’s a win/win situation!
What metrics and KPIs should I put on a dashboard?
Dashboards enable everyone within the company to validate and make business decisions and foster greater collaboration across the organization.
Executives and leaders don’t have to ask for data analysis because the data is readily available on information dashboards. Analysts can continue to work while users have access to the data they need. It’s a win/win situation!
- What business questions should my dashboard address?
- Which type of dashboard should I use to show my data?
- My dashboard will my readers be interactive?
It is a smart idea to organize your dashboard around questions or answers. Take this example:
- What does our customer acquisition cost? This metric can be displayed on your dashboard to quickly answer.
- purpose of a dashboard is our sales funnel flooded with leads more this month than last? To get the complete picture, display this metric on your dashboard.
- Is your Website Retention Rate in line with industry standards? This metric can be visualized to help you refine your website retention strategy.
What’s next for your dashboards?
You can build dashboard data here PowerMetrics Our lightweight BI tool will help you improve your data analytics dashboards. dashboard data started with our Starter Guides dashboards And dashboard design To help you get started.
Looking for inspiration on the metrics you should include on your data dashboard? MetricHQ is our online dictionary for metrics and KPIs. MetricHQ allows you to search for specific metrics, search for new metrics, and search by category, service, or add instant Metrics.
