Advantage of Using an Analytics Dashboard (2024)

analytics dashboard

Advantage of Using an Analytics Dashboard (1)

The control panel to your business, an analytics dashboard allows you to see a general or detailed overview of company performance. This tool is used to help organisations quickly identify workplace statistics based on KPIs. By allowing users to easily visualise and review data at a glance, dashboards increase the overall efficiency of business analytics. Likewise, web-analytics dashboards help businesses to better quantify and act upon the information associated with the organisation’s web presence. Is this necessary for most businesses? Well, considering that 41% of organisations claim that their current system can’t make sense of large volumes of data from different sources, it appears that a visually-centered big-data solution is certainly appropriate. Taken together, these analytics processes can have a significantly-positive impact on a company’s success.

Visualising Data for Better Understanding

With unfathomable amounts of new data being created daily, organisations are rushing to mine as much valuable information as possible. This information can then be used to refine company processes and campaigns, to better identify customers and customer needs, and to recognise emergent trends. However, as more and more data is captured and analysed, it becomes increasingly difficult for organisations to accurately gain a succinct overview of what that data is telling them. In fact, 30% of users say that they have trouble identifying useful data.

Advantage of Using an Analytics Dashboard (2)

Dashboards offer a solution. By condensing multiple reports down into visuals, such as graphs charts, tables, and metrics, and displaying those visuals on a single page, analytics dashboards allow business decision-makers to review significant amounts valuable information at a glance.

Customising Solutions to Fit Your Needs

While there are certain common needs that most businesses share, the specifics will most likely vary between one company and the next. As such, for an analytics dashboard to be effective, it must also becustomisable.

A customisable analytics dashboard allows users to add or remove displayed parameters, so that the dashboard remains 100% relevant to the needs of the business. Decision makers can then see the information that they want, without having to wade through the data that they don’t need.

Reporting, Analysing, and Presenting Data in Real Time

A few hours of delay can make the difference between actionable, relevant information, and information that is useless and out-dated. Therefore, you want a proper analytics dashboards to display information in real time, continuously receiving, processing, and delivering reports in a clear and digestible way.Real-time reporting provides real advantagesover batch-processing, in that there is no delay between data being received, and data being reported on. Instead, organisations are able to act on information that is completely current, rather than having to risk using information that is out-dated (even if that information is only a few weeks or even days out of date). The effectiveness of an analytics dashboard is tied directly into how easily users can operate it. As such, the best dashboards feature intuitive controls. Where necessary, simple tutorial programs may also be included, making it possible for new users to grasp the full usefulness of the program, without having to endure complex or time-consuming training sessions.

Cloud based Analytics for Instant Deployment and Universal Accessibility

A cloud-based analytics dashboard requires no local hardware or software installation. Instead, it operates directly out of the cloud. This means faster deployment, and the elimination of expensive downtime. This greatly benefits users, in that it reduces or even eliminates the need for extensive, complex data centers. It also makes it possible for users to be able to connect with the programs they need, from any internet-enabled device—allowing for direct access from not just the office, but anywhere in the world.

Anadditional benefit of a cloud-based dashboardis the ease of accessibility from any authorised device. As long as a user has an active internet connection, he or she will be able to review valuable information, whether from a desktop computer, laptop, or mobile smart device. This also allows for better interdepartmental collaboration, as each user is able to access the same information, regardless of platform.

Universal accessibility makes it possible for decision makers to stay completely up-to-date with the data that directs the course of their organisation, no matter when and where. Cloud-based dashboards also offer advanced levels of security, eliminating the dangers of unauthorised on-site access, while also taking advantage of the most-advanced cyber defenses available to prevent remote data-incursions. And while it’s important for business leaders to be able to review business information at a glance, it is just as important that that information not become available to unauthorised users. Effective analytics dashboards break access down into various levels, providing each user, group, or role with it’s own customised accessibility.

In a world that has come to rely so heavily on digital information, the quality and availability of actionable data has become vitally important to businesses both large and small. However, without a straightforward way to review that data, many organisations find themselves drowning in a sea of complex information. An effective analytics dashboard provides users with a lifeline, by sorting data into visually accessible, relevant information that can then be acted upon, for better, faster decision-making.

Advantage of Using an Analytics Dashboard (2024)

FAQs

What are the benefits of dashboard in data analysis? ›

Benefits of using a dashboard include the ability to see relationships between different data sets, spot outliers, and track performance over time. Dashboards can be customized to show only the information that is most relevant to the user, making them an efficient tool for data analysis.

Why are analytics dashboards important? ›

The control panel to your business, an analytics dashboard allows you to see a general or detailed overview of company performance. This tool is used to help organisations quickly identify workplace statistics based on KPIs.

What is the core advantage of using a dashboard? ›

Provides at-a-glance visibility

Rather than waiting for data analysts to deliver monthly reports, a dashboard displays up-to-date information so you can instantly track the progress and changing conditions of a department or business operation.

What are analytical dashboards used for? ›

An analytics dashboard is an interactive graphical user interface that allows you to display, track, and analyze key performance indicators (KPIs) and metrics. Modern dashboards can combine real-time data from multiple sources and provide AI-assisted data preparation, chart creation, and analysis.

What are 5 benefits of dashboards? ›

Most specifically, the right dashboard will give you six key benefits as follows:
  • Total Visibility into Your Business. ...
  • Big Time Savings. ...
  • Improved Results. ...
  • Reduced Stress. ...
  • Increased Productivity. ...
  • Increased Profits: As discussed, your dashboard shows you exactly which areas of your business are performing poorly.

How do dashboards improve analysis? ›

Data visualization tools like dashboards make it possible for all users to comprehend the analytics that are important to their department, business, or project. Dashboards enable even non-technical users to participate in and comprehend the analytics process by gathering data and visualizing trends and occurrences.

What are three benefits of a dashboard? ›

Dashboards can help users monitor operations, optimize processes, and improve overall business performance by having data readily available, and can also help detect and prevent potential problems before they become issues with its use of real time data.

Why are dashboards better than reports? ›

Reports tend to be broader and feature historic data. Because they must be delivered periodically, they represent a snapshot of a specific area or organization rather than its real-time situation. Dashboards, on the other hand, are built to visualize and organize data in real-time.

Are dashboards actually useful? ›

Dashboards are designed to offer a comprehensive overview of company performance, and do so through the use of data visualization tools like charts and graphs. These tools are auto-generated, so you don't need to be an expert to use them.

How do you use a dashboard effectively? ›

  1. What's your goal?
  2. Know your purpose and audience.
  3. Leverage the most-viewed spot.
  4. Design for the real world.
  5. Author at your final display size.
  6. Limit the number of views.
  7. Add interactivity to encourage exploration.
  8. Show filters.

What is an example of an analytical dashboard? ›

The 10 analytics dashboard examples include web, digital marketing, business insights, social media, product usage, customer journey, user behavior, user retention, knowledge base, and Net Promoter Score analytics dashboards. The top 5 analytics tools are Userpilot, Amplitude, Mixpanel, Google Analytics, and PowerBI.

What is the difference between analytics and dashboard? ›

Here the “what?” of data is brought to light with the excellent technological workings of the dashboard. So if dashboards answer the “what,” then analytics answer the “why” behind the what. Analytics take it a step further, digging down deeper into the data.

What is the primary benefit of using dashboards in Jira? ›

You can create a personal dashboard and add gadgets to keep track of assignments and issues you're working on. Dashboards are designed to display gadgets that help you organize your projects, assignments, and achievements in different charts.

What are the benefits of using a dashboard quizlet? ›

a dashboard displays information used to make sound business decisions, which are less focused on strategic objectives and more tied to operational goals. An operational goal may contribute directly to one or more higher level strategic objectives.

What is the primary advantage of using Excel for dashboards? ›

Excel dashboards make it easy to perform quick overviews of data reports rather than going through large volumes of data.

What are the advantages of dashboard in Excel? ›

Excel Dashboards are a powerful tool that allows users to create interactive reports and data visualization. They are used to gather, analyze, and present data in a meaningful way. Dashboards help supply chain professionals to make informed decisions based on the data they have collected.

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