There are a variety of reasons to implement a dashboard. But what are the three main purposes of a dashboard?
If you’re considering implementing a dashboard in your business …of any kind, then it’s beneficial to understand what the main benefits (and aims) of a dashboard are.
As experts in incentive programs, we’re going through the three main purposes of a dashboard. But first, we’ll begin with a quick summary, then we’ll get into more detail.
The three main purposes of a dashboard are first, to provide insights to obtain an overview. Secondly, it enables you to act on that data to improve efficiency within your organization. And thirdly, to enable staff to act on those efficiencies through increased collaboration and communication.
Dashboards come in many varieties and are used to tackle numerous areas of your business …along with numerous overlapping areas.
Our focus here will be on incentive dashboards as an example, but you can apply this to a variety of different types and areas of your business.
What are the three main purposes of a dashboard?
Ultimately, a dashboard should meet these three main purposes to a sufficient degree. If not, then you may need to question the reason behind using it – and if, and how it serves your organization.
Many processes we use can be improved upon, so periodic questioning of best practices is always a useful exercise
So what are the three main purposes of a dashboard?
1. Insightful Analytics
By building a dashboard, you can make smarter decisions by gaining deeper insights into your data.
Dashboards can provide real-time updates on changes in sales, customer behavior, and more, enabling you to quickly react to changing trends or customer demands.
Analytics can be anything from a simple chart to an intricate visualization. Through dashboards, you can get more detailed information and insights into your data that would otherwise be difficult to track or measure.
Using the data
By receiving up-to-date real-time information, you can then use the data to develop strategies, optimize processes and make better decisions. This allows you to make informed decisions faster, helping you stay ahead of the competition.
Dashboards can also provide deeper insight into customer behavior and preferences. This type of information helps marketers to create targeted campaigns and optimize their marketing strategies for maximum impact.
Overall, dashboards are a powerful tool that helps businesses gain insights from data quickly and effectively, allowing them to make smarter decisions with greater accuracy.
By harnessing the power of analytics from dashboard technology and the insights it provides, businesses can remain competitive in today’s market and achieve their goals more efficiently.
2. Increased Efficiency
A dashboard helps streamline workflows by providing an easy-to-read, comprehensive view of your data.
This allows you to spend less time manually gathering and manipulating data and more time focusing on what’s important – making decisions based on the insights available from the dashboard.
As we’re essentially looking at an improvement in efficiency. You might also want to see our article on the difference between productivity and performance.
Improvements in efficiency from a dashboard can include:
- Faster decision-making
- Improved data accuracy
- A better understanding of customer needs and behaviors
- The ability to make data-driven decisions quickly
- Guiding areas of the company to areas of focus
On the last point, dashboards also provide a way to quickly identify trends in your data and act on them before they become major issues. This can help you stay ahead of the curve and keep your business running smoothly.
With better visibility into what’s happening, you’ll be able to respond quickly to changing market conditions. In this modern age being able to respond quickly is vital to stay ahead.
3. Improved Collaboration Across Teams:
Dashboards make it easier for teams to collaborate since they can quickly access critical information without having to search for it manually.
Dashboards also let teams visualize their progress in a way that encourages communication and helps them stay focused on their goals.
Collaboration from anywhere…
Regardless of where team members are located, they can access dashboards and collaborate in real time without having to be in the same room.
For companies that are global, this means that teams can quickly share data, get feedback and make decisions without having to worry about time differences, email, or language barriers.
The ease of access also helps teams keep up with the speed of modern business and remain competitive in the digital age. With dashboards, everyone can be on the same page at all times.
When collaborating, dashboards also make it easier to assign tasks and track progress on projects.
The introduction of programs such as Asana, and Trello are examples of project management across teams, regardless of location and time zone, and with the ability to assign tasks and responsibilities.
This helps teams work more efficiently and ensures that everyone knows exactly what is expected of them, thus leading to better results.
Our own incentive dashboard allows quick real-time viewing and analysis, and the ability to automate incentives.
Calculations, alerts, and tasks can be automated with the use of a dashboard.
Implementing a dashboard
If you’re looking to adopt a dashboard for your business, then you first need to assess your current process.
In the case of our own incentive dashboard, if you already have an informal incentive system in place based on a spreadsheet …then is it working effectively?
If not, then an incentive dashboard can help streamline the process and make it more efficient.
Once you know your current situation, consider what type of dashboard would serve your needs best.
There are many different types available, often numerous dashboards available that largely perform relatively the same task, so it is important to find the one that works best for your business.
What are the three main purposes of a dashboard? – Final thoughts
The three main purposes of a dashboard should be met, but are only the tip of the iceberg!
Dashboards offer many more advantages that can help you take your business operations to the next level.
So if you’re looking for an easy way to make your business operations more efficient and organized, it may be time to consider investing in a dashboard.
An incentive program that provides an easy-to-use dashbaord is an excellent and easy way to improve performance and impact your operations.
The next step is easy. Contact us now for immediate advice on how an incentive dashboard can help your business. And make use of our quick 15-minute demonstration so you can see for yourself how powerful this tool can be for your organization.
