The Dashboard is a tool to help organize information, monitor metrics and analyze business data.
Do you want to understand in detail what a dashboard is, what is the value of this tool, the tips that should be followed and the mistakes that should be avoided?
Keep reading and check out all this and more in the post we prepared on the topic!
What is a dashboard?
A dashboard is a dashboard, a business tool.
It contains data that helps to monitor and analyze the actions, strategies and investments made.
Thus, the dashboard serves to visualize relevant information for decision making.
This type of resource can be used for the company as a whole, for each of the sectors or even for more specific campaigns and actions.
What are the benefits of using dashboards?
Companies only grow and have good financial results if they also have good control over business operations.
And the dashboard is an exploitable and important resource for anyone who wants to:
Monitor indicators in real time
Imagine that your superior arrives with a demand for an urgent report.
Or that you need, at the last minute, to make a presentation to the board.
Going out in search of data, if it is not organized, will be much more work and will also take up time that you may not have.
With the use of dashboards, you and your team have access to updated area data at any time.
Centralize data
Another advantage is that the data is arranged in a single panel.
If you work in marketing and sales, you know how many of the metrics are “spread out” across the different tools and platforms used by the team.
So, with a dashboard as a single pane, access is simplified and the most important data can be visualized easily.
Dashboard example created to track the evolution of a specific objective.
Dashboard example of the performance of an ongoing case study.
Support decision making
With accurate data, it is possible to make decisions that are truly strategic — and that are aligned with the main objectives.
Facilitate the visualization of results
As the dashboard is a very visual tool (as you can see in the examples above), information and results are easily understood, through features such as tables, graphs, indexes, numbers, percentages, comparatives, etc.
What are the types of dashboards?
Dashboards are used for different purposes, which define what type they are:
1. Strategic Dashboard
The main function of this type of dashboard is to follow the evolution in relation to a strategic objective for the business.
This is also the format sought for decision-making, such as the distribution of financial resources, prioritization and performance of different areas of the company.
2. Operational Dashboard
Widely used by each sector to evaluate and monitor internal metrics and those related to the efforts developed by the teams.
Operational dashboards are aligned with business objectives, but show information on area activities, which serve as a basis for adjustments, optimizations and task corrections.
3. Financial Dashboard
If the strategic dashboard helps in the decision on the distribution of resources, the financial dashboard is totally focused on monitoring the financial health of the company.
Tips for creating an effective dashboard
Once you understand what a dashboard is and what type of ideal it is according to your needs, it's time to start assembling a dashboard.
There are several models and tools that can be sought for your industry and intended purpose, but they all need you to:
Set your goal
The first great tip for creating your dashboard is to define the main objective and the goals that will be pursued to achieve this objective.
For example, if we are talking about a marketing dashboard, the main objective of the area may be to increase the generation of qualified leads.
Establish metrics and indicators
Then, it is necessary to define and include in the dashboard the data and information that should be monitored.
For this decision, we must think of those data that are aligned with the objective and goals, related to the Return on Investment (ROI) and that provide information for strategic decision making.
Focus on the right data
In addition to getting the metrics right, a good dashboard must gather the data accurately — or all the necessary tracking is lost.
So, after choosing the tool used, make sure that the updates and integrations are entering the data correctly.
Top mistakes when creating a dashboard
Here are four mistakes that can be observed in the market and that are practices you should avoid when building your dashboard:
Insert a lot of irrelevant information
You might be tempted to include all the information on your dashboard, but that's not a good idea. With too much data, the report becomes extensive, confusing and relevant information is lost.
Use lots of colors and images
The dashboard is a visual tool that makes use of elements to facilitate quick understanding of data. But be careful not to overdo it.
Understand what should be visually highlighted on the dashboard, choose colors that quickly show the positive and negative evolutions and metrics, and keep the visual focus on graphical schemes.
Run away from the goal
Another temptation might be to include some vanity metrics , ones that appear to quantify relevant numbers but are actually unrelated to business goals.
These are metrics that sometimes end up being included because they seem more positive.
Always ask yourself about the impact of this data in relation to the main objective. Do they relate to him? If not, they shouldn't have space on the performance dashboard.
3 main tools to create a dashboard
Here we have selected three of the main tools used by the market to create single-pane dashboards.
1. Google Data Studio
To centralize information online, with ready-made and customized templates, in addition to being easy to read and visually attractive, Google Data Studio was created .
This solution is part of the Google Analytics 360 enterprise suite and is free.
Examples of Google Data Studio dashboards:
2. Excel
In Excel (or Google Sheets) you can also create a dashboard with the data.
The tool is free, but there are some limitations in terms of integrations and visual layout. More in-depth knowledge of the tool is required to be able to enter all the desired data.
3. Power BI
Power BI is a Microsoft tool for building dashboards that allows you to automate part of reporting updates and easily visualize data.
With a simple interface and several templates, the tool offers a free trial after creating an account on the site .
Example of a dashboard made with Power BI
Conclusion
Is it clearer what a dashboard is and how this tool is useful to achieve the company's goals? If you have any questions, leave them in the comments of the post!
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