To impart crucial information to the decision-makers in the most readable formats, you must embrace a BI dashboard – the new age data visualization and analysis tool.
Using a digital dashboard, you can collate and analyze critical information across an organization. With the real-time snapshots, trends, and key-performances, you can exactly know the current position of your organization and derive modules from enhancing the performance of each department.
But, until you utilize this powerful tool effectively, it will not give the desired results, and it can also impact the decisions of the management negatively.
Our company consisting of experienced BI experts can help you from the trauma of failed dashboards.
Top Five Best Practices
Identify the purpose and target audience
As we do for any reporting, first identify the 5Ws – knowing why you are developing the dashboard and for whom helps you to set the backdrop. Once you know your stakeholders and their requirements, you will precisely know what data they are expecting from your dashboard.
Don’t forget that the purpose of BI dashboards is to see the real-time data clearly so that the right decisions can be taken at the right time.
Focus on communication and not just visuals
You must be aware that the BI tools like Tableau and Power BI are known as data visualization tools because using their interactive graphs and charts, you can present numbers that are readable and decipherable.
So, while visuals play a vital role, when these do not communicate the desired facts, they are of no use. You must know the purpose of each graph and utilize them strategically.
Cloud-based BI dashboards are the need of the hour
If you cannot share your dashboards on the cloud, how will you ensure that the data you are presenting is centralized, governed, and thus trustworthy?
When everything else in your organization, starting from CRM to the HR system is online, why not the dashboards?
Web-based BI gives you close to accurate information that empowers you to realize an opportunity or avoid a crisis. The decision-makers can communicate on a real-time basis and take prompt actions.
Do not clutter your dashboards
Communication is a science – remember it when designing your BI dashboard. It must reflect prompt, accurate, concise, and fact-based communications. One of the mistakes that most data professionals make is to overburden the audiences with cluttered information.
Follow the 5-second rule – the audience should get the relevant information in about seconds! It shouldn’t be like “finding a needle in a haystack.”
Provide data context
Data analyses and visual representations without the data context will not be meaningful. Imagine the impact you may have when you show sales figures, without mentioning Dollar or Pound, or if you show sales over a period of time without drawing any reference to the time frame!
A piece of information that doesn’t hold in the current scenario is of no value, and there’s hardly any point in analyzing it. Therefore, to reflect the current trends and challenges, the selected data metrics must be up-to-date.