Imagine having access to an interactive visualization dashboard that constantly provides real-time data on your business operations? With data such as Growth in Revenue, Operational Cash Flow, and the number of customers gained/lost, a business can truly set itself apart.
How? By simply using that information to make a data-driven decision, identify opportunities and monitor business progress. A business can achieve all the above through the use of Business Intelligence software. More specifically, a Business Intelligence Dashboard.
But what exactly is it? And is it even that important to a business?
What is A Business Intelligence Dashboard?
No one likes to sift through the complex data often presented in reports. These data-focused reports that require extensive analysis are mind-numbing and time-consuming. And even though dashboards and reports are not the same, there are instances where the use of either can work.
A dashboard, which portrays different functions and uses to a report, presents information visually and in an analytical summarized format. It makes information easier to interpret with just a quick overview. It also feeds businesses with real-time interactive data and allows for fast-tracking of data.
To help create a mental picture: imagine a screen staring back at you. A computer program or software is displaying information in tables, charts, lines, and even gauges. A short overview will reveal key performance indicators (KPIs), Analytics Metrics, and other information.
Why Is It Important?
Other than the already mentioned advantages of a BI dashboard, it provides accurate business data. This is important for the following reasons:
- Informed Decision Making
Accurate data that is easier to interpret allows for faster and less- risky decision-making. For example, part of the data given should let decision-makers know what caused a loss in profit.
- A Step Ahead
Dashboards take it a step further by predicting the demand for a particular product. This improves your preparedness as a company and keeps you a few steps ahead of your competitors.
- Identification of Potential Business Opportunities
A quick analysis of sales data or identifying key factors can help a business identify potential business opportunities.
- Time-saving
Yes, the data is easier to analyse and understand. But every worker can access it on their device, regardless of its type. This allows employees to remain informed, stay focused and improve performance.
BI dashboards are the miracle every business has been praying for. And with ZonkeTech's Business Intelligence Development team, you can have this cutting-edge software right at your fingertips. We work to meet every client halfway and provide step-by-step insight on any project we work on with our clients.
We also step in to fix malfunctioning or outdated software. Even though we're located in Durban, South Africa, we work with varying businesses from around the world. All you need is to contact us. You can also visit our website for more information.
