Author: Miguel Van Damme
Ever since the introduction of the personal computer, or even IT as a whole, companies have been generating data in bulk. As a lot of this data is objective in nature, it can be very powerful for companies in the process of business decision making. However, this is not possible when a company can’t see the forest for the trees. Only when the right type of data is captured and visualized in the most optimal way it will allow for better decision making. Strategic dashboards do just that when they have been designed properly and Brightwolves can help you with that.
It starts with the right content
When a new dashboard is designed, the easiest is to visualize as much data as possible. However, showcasing too much information deteriorates the quality of a strategic dashboard. To create a more beneficial one, focus is key. Only a limited number of performance data should be selected. The structure of an effective strategic dashboard follows a layered approach. The foundation is made up by a set of strategic objectives. Then, these objectives are translated into actionable KPI’s, which act as the building blocks of a dashboard.
The importance of representing your data correctly
The next step is to visualize these KPIs the right way. There is no gold standard but a strong KPI visualization includes certain characteristics such as an evolution over time, a performance assessment based on specific benchmarks or objectives or a color coding to increase readability… Visualization itself should always increase the actionability of the KPI.
There are plenty of tools available which can be used to develop the actual dashboard. The most basic and common software to develop dashboards is Microsoft Excel. However, as dashboards should be updated regularly and preferably automatically, we prefer other alternatives with more features such as Power BI and Tableau.
If you are interested to know more about dashboarding and how BrightWolves can help your company, feel free to reach out to Domien Agten for more information.