How you can utilise this game-changing tool to run a tighter ship
Data is king and is especially important when practising lean analytics within a business model. However, data means nothing when lacking organisation and structure so it can be interpreted and analysed with ease.
Using dashboards to view data immediately can revolutionise your business when implemented correctly. We have identified the five key areas that your business will benefit from utilising a Dashboard.
The top 5 side effects of using Dashboards to view data:
1. Efficiency
One of the most noticeable outcomes of using dashboards is the ability to monitor multiple metrics in one place at the same time, making this approach incredibly efficient. Drilling down into data to review metrics, and then doing it over and over again for different metrics is time-consuming and leaves room for error. Even with tabs to speed up the process, it can become cumbersome – costing you hours on hours each week.
By drawing all data into one readable screen, the user will immediately understand what is happening in real-time for any measured metric.
Plus, most Dashboards can be hosted and accessed via the Cloud which makes it easy to share data or have multiple team members access it simultaneously.
2. Savings
We’ve already identified that spending time searching for data, and then overlaying it on a table and/or graph to review it can be incredibly time-consuming. Time spent always has a cost. Investing some time into setting up data funnels can save you a fortune in the long run. It also frees up users to be more responsive to other aspects of their job, adding to overall efficiencies, productivity, and thus, savings. Keep in mind, there is a correct way to set up your Dashboard so that it offers the best outcome within your business.
The ability to visualise data that has been collected can further be used to predict problems before they even arise. This won’t just save money, but could also be implemented to improve safety.
3. Optimisation
Track progress or set goals with the data supplied. This allows you to optimise and adapt certain strategies to achieve set objectives with your data. You can even incorporate notifications that reflect when certain thresholds in data are reached or let you know action is required.
4. Visibility
Having key data visible on your Dashboard round the clock at a glance offers clarity and accountability. It also helps make you aware of any shortfalls in your business, giving you the opportunity and means to make data-driven decisions, and improvements and allow better allocation of assets/resources.
5. Sustainability
Reviewing data is always the first step in identifying ways to optimise your business. We painstakingly crawl through graphs, raw data, print-outs and tables – trying to consolidate findings into a workable format. Then, based on these findings, we speculate where improvements may be made.
Dashboards have streamlined this process, allowing all of this to happen almost instantly – freeing up your time and giving you the tools needed to make accurate and data-driven plans that see positive outcomes and business growth.
Don’t just have it, use it.
Using Dashboards creates a major positive change for business with these top five points showcasing their ability to optimise your role. By tracking metrics that matter most and making data-driven decisions, you and your team can continuously adapt your strategies to stimulate improved metrics and, eventually, achieve sustainable growth.
Frustrations we see with the utilisation of Dashboards in the industry generally stem from incorrect setup, or not knowing what visible information could provide the best outcome. We are experts in assisting businesses in the correct setup of dashboards and helping them identify the best strategy that will ensure they maximise opportunities in utilising this game-changing tool.
What benefit have you seen from using a Dashboard?
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