Key Performance Indicators (KPIs) are the main business measurement metrics for any business. These are the ways to measure how accurately and faster you're reaching the set of business goals. They also help to estimate whether you're on track to accomplishing them.
A KPI dashboard unites all your KPIs in one spot for simple correlations and examination. You can perceive how you're performing on each unique estimation, by placing them one next to the other. Like most organisations today, you presumably have a huge bulk of information and data that need help in collating and using them to your advantage.
The KPI Dashboard Design
The design should be such that all the mission-critical information is available to analyse at a glance. This should help in understanding where you stand as per your business goals, and where you're headed.
- Single-screen page
The point of the dashboard is to get a snapshot of how you're faring. If it takes you a long time to analyse the data, then it's not a dashboard!
- Include only the most critical KPIs
Contingent upon the software you pick, your dashboard detailing could incorporate a tremendous scope of KPIs from net profit and income development. It also depends upon your capacity to keep projects on schedule and within financial budgets, how much income you acquire per client, or the amount you spend onboarding each new customer.
Focus on the data you really need to know to drive your business forward. Many secondary data points are useful, but you might want to exclude them from the dashboard.
- An accessible way to display the dashboard
Dashboards can likewise make cooperation more viable and can further develop joint efforts. At the point when everybody approaches similar dashboards to gauge progress on normal KPIs, the teamwork — and pace of advances — can be sped up.
Make sure it's viewable to all partners and relevant teams seamlessly. For this, you might have to use software to build your dashboard. Check out industry-specific dashboards like retail and manufacturing, as well as department-specific dashboards for human resources, customer service, sales, and IT.
- Easy to navigate dashboard
You can likewise adjust your dashboard to the user's necessities. Your CEO's KPI dashboard may be unique in contrast to your IT project director's or the marketing division's dashboards, with each featuring the bits of knowledge relevant to their jobs.
- Focus on information delivery and understanding
It should be kept simple in design, navigation, purpose, and data for the best functionality. If the dashboard gets heavy due to unnecessary things like a bulky design, then it won't serve its purpose. It needs to be seamless across functions.
There are various software arrangements accessible nowadays, including those by big companies like Dundas, IBM, Microsoft, Oracle, Qlik, and Tableau. They are premium in design, color-coded, and their KPI dashboards can be made in minutes, so clients can comprehend data quickly, and update more data with a click. They are all available online which implies you can access the data from anywhere, at any time.
MyDash is another company offering a host of incredible and powerful features to custom code KPI dashboards. It collects KPI data from varied chart types or any other digital data sources. It also offers versatility in features like chart toggles, data roll-overs, icons, advanced date selector, exporting formats (csv, jpeg & pdf) and many more.
Dashboards have now become a mandatory tool in visualising and monitoring performances in an organisation. Their importance has now proven beneficial to companies, departments, and managers at strategic, operational and financial levels. The above guide has now made you familiar with the importance of KPI, so it's now time to either start creating a dashboard yourself or get it done from an expert company.