A visualization tool to monitor KPIs and Metrics.
A Dashboard is a visualization tool that tracks, analyzes and exhibits the status of key performance indicators (KPIs). Dashboards are a one-stop location that combines and displays various performance metrics and numbers on a single screen. The key features of a dashboard are its ability to pull data from numerous sources and the customization possibilities for its User Interface(UI). Dashboards identify and visually compare the current and the past performances of an organization based on aggregated data, many times from disparate sources, and combined together into a single, graphical representation with the goal to more completely inform a decision.
Dashboards help organizations to excel in their performance by identifying the potential issues and minimizing the costs incurred by improving overall operational efficiencies within the various facets within an organization.
Types of Dashboards
Based on the requirements in an organization, dashboards are classified into three types: Operational, Strategic and Analytical Dashboard.
Operational dashboards, mostly used in a fast-paced environment, tell about the present performance of the KPIs. These dashboards tell what’s happening now so quick and meaningful decisions can be made.
Strategic dashboards are useful for those who want to track the metrics and key performance indicators(KPIs) of an organization against their set-targets and often over a longer time frame.
Analytical dashboards, also known as tactical dashboards, are of complex nature. They use the historic data and establish goals for an organization. Because of its complexity, these dashboards require higher levels of expertise for analyzing data and are mostly suitable for business analysts to communicate business goals across the organization.