Make Your Business Grow With Dashboards
Every organization needs continuous evaluation of their business figures for their future scalability and growth. Making valuable decisions has always been one of the most important things in business but with heterogeneous processing data it can be a tedious task to make accurate decisions and give fast analytic results .We are in an era where we no longer need to invest our time in creating manual reports . Analysis and Insights of real time data can be computed to track companies performance in a jiffy. Here’s where Dashboards come into the picture .
What is a Dashboard?
A dashboard is a dynamic pictorial representation of a company’s Insights and trends . In no time you can drill down into the most complex hierarchy by just a single click. A well-designed dashboard provides on-demand access of all of your most important metrics like product sales ,customer review etc
Below is an example of House Data Exploration Dashboard with respect to ground area,sales and quality rating of types of houses.
The dashboard has further been drilled down to 1 family house analysis.
How Dashboards Help Organisations to Grow Business?
The function of a dashboard is to provide real-time results by aggregating and extracting value from all the data sources. A good dashboard will give you deeper insight of your business within minutes with various features as listed below:
1. KPI With Dashboards
KPI is Key Performance Indicators ,it is a measurable value which evaluates the effective performance of the company in achieving its objective.Through Sales analysis dashboards we can pictorially represent disparte sales data of various categories through years, quarters, months and even weeks .
Depending upon requirements Companies can include KPI like: Number of New Customers, Churn Rate, Comparison to Previous Period, Quarter to Date Sales, Product Wise Performance etc.
Below is an example of a KPI dashboard created to analyse sales of Housing Data from Years to Each month and zone sales and Analysis.
2. Data Visualization:
Visualizations compiled into dashboards can quickly tell a flow of patterns and highlight trends that may go unnoticed easily when manually analyzing the data. Dashboards allow us to uncover answers based on top and common business objective queries pictorially. Insights such as top sales per account executive, department or region usually can be found in dashboards.
3. Improve Customer Experience:
Dashboards can improve customer experience and satisfaction by creating a huge amount of dashboards for employees ,one such scenario was found when “Verizon” deployed more than 150 dashboards aiming to extract data from customer support chat sessions. Using the interactive dashboards business can seize the opportunity to increase potential audience and improve product delivery.
4. Make Strategic Decisions:
Dashboards allow companies to make decisions based on facts and on current data that is periodically refreshed daily. By monitoring your current performance, you can make strategic and Incremental decisions.
5. Trend Line and Predictive Analysis
Dashboards have another eye catching feature which is Trendline and Predictive analysis which is possible due to tableau powerful backend and interactive UI .It allows predictection and time series analysis by simply selecting some options and dragging them to the dashboards .
Above representations are done in Tableau dashboards providing the holistic view of the data empowering the companies from different fields namely – Finance, Retail, Banking, Property Dealing etc. to create quick dynamic insights, visualisations of performance and trends of their product in their respective user market. This not only helps companies to make data driven decisions but also drill down to understand customers’ dynamic demands and trends. Companies now have the advantage to be more competitive and aware of their market value. One such way to create dashboards is to useTableau.
What is Tableau ?
Tableau is a powerful BI tool which is used for data visualization to create dashboards and generate reports which aims to create a comprehensive storyline of the enterprise data by means of storing ,analyzing and dynamic visualization without the complexity of coding .
Yes! All this can be done with effortless drag and drop.
Benefits of Tableau :
1. Different Data Source :
Dashboards can be created using more than 30 types of data from various sources.It also supports data extraction from live data sources and big data warehouses which help organisations to develop updated and real time business dashboards .
2. Fast Development
The BI nature of Dashboards reduces the analysis time to mere minutes and allows anyone in the organisation to develop visualization without the technical initiatives with simple drag and drop, additions of filters and drill down of information. Dashboards provides the facility to the data team to waste less time in analysing and compiling reports and devote more time to innovate new models
3. Single Click Drill Down
In No time you can drill down into the most complex hierarchy by just a single click. Drill down can be applied to worksheets, dashboards and across dashboards using Action and Parameters.
Dashboards have changed the dynamics of the business ever since it was launched back in 2013.Companies like Amazon,Linkedin etc use their customer data to create reports and dashboards on a weekly or monthly basis such as service and repair orders, retail sales analysis which can be shared across the enterprise and continuous evaluation with tableau has therefore increased their revenue and success delivery rate of products and projects