A digital dashboard could be the missing key to the success of your organisation. But what is a digital dashboard? Sometimes called a TV dashboard, it is an electronic screen that presents Key Performance Indicators (KPIs), metrics, and statistics in a clear and concise visual format. Making these metrics accessible and visually pleasing could support you in achieving your business strategy and growing your organisation.
In this blog, we have highlighted 3 important reasons why a digital dashboard at your organisation could help you increase efficiency, simplify the sharing of metrics, and achieve your goals.
1. Faster, More Informed Decision-Making
Within organisations, time is often wasted generating data reports from multiple systems and locations. By using a digital dashboard, however, data points and KPIs that are important to your organisation can be presented, monitored, and measured in one central location. An office TV dashboard in a sales department integrated with Microsoft’s Power BI, for example, could present key information for effective operation on win rates, customer satisfaction, and average profit margin. This will save time and increase efficiency within your organisation by generating faster, smarter, and more data-driven decisions.
With data presented in a centralised location, cross-departmental communication within your organisation will also improve. This will benefit team-wide decision-making across marketing, sales, executive boards, and other departments. This is critical in the new digital age, where rapid communication and innovation are key to a successful organisation.
2. Digital Dashboards Provide Greater Accessibility And Engagement
Data and analytics can often be hard to digest if not presented in a clear and succinct way. Digital dashboards provide a solution to this. They offer an accessible, visually pleasing presentation of analytics, summarising and presenting raw data and complex information in an easy-to-read and memorable way. By using graphs and charts in a clear layout, digital dashboards allow for easy interaction without comprehensive training and answer necessary questions. This renders the dashboard an unparalleled tool of analysis, making important information accessible through digestible, readily understandable visual aids.
Greater accessibility to data also has the power to increase employee engagement and productivity; an employee who knows and understands how their department, team, or company is performing will be more motivated. While print posters and message boards often lack the ability to grab attention, a digital dashboard in the office making live metrics accessible will catch the eye, increasing employee awareness and helping the organisation work towards common goals. Different departments within your organisation can be presented with different statistics on their screens to meet their departmental operations and needs. A digital dashboard may simplify data, but its impact is amplified.
3. Improved Forecasting With A Digital Dashboard
Organisations are successful when they consistently review their strategy, goals, and KPIs to stay relevant and purposeful. As data evolves rapidly, a digital dashboard can utilise analytic tools and software to automatically gather information and present it in an understandable format on a live screen.
With up-to-date performance metrics and data analytics on display, greater insight into your organisation can be revealed and understood. Alongside exposing successes and issues that need immediate attention, for example, if a live metric suddenly drops, digital dashboards can help pinpoint and forecast potential gaps, demands, or problems in the future. As a result, actionable goals and targets can be put in place, and future activities can be focused on the right tasks and customers. In turn, through the use of a digital dashboard, your organisation can produce a well-supported, well-forecasted business plan to ensure future success.