A dashboard
is a type of functionality included in BI (Business Intelligence) tools that can be used by individuals, small and medium-sized businesses, and large organizations, regardless of their size.
A major feature is that multiple pieces of information can be summarized and visualized in graphs, etc., but many people may not understand the detailed functions and roles.
Therefore, in this article, we will explain in detail the overview, functions, and roles of the dashboard. We will also introduce 10 typical dashboard creation tools, so if you are considering implementing a dashboard, please refer to them.
What is a dashboard?
A dashboard is a tool that allows you to centralize and summarize multiple different data and information. The original origin of the word was “instrument panel” that showed the remaining amount of gasoline in a car or airplane.
Many of the BI (Business Intelligence) tools in the world are equipped with a dashboard function. Equipped with a dashboard function, it is possible to visualize multiple important items at once, which can be useful for data analysis.
However, simply being able to visualize miscellaneous information is not enough to make an excellent dashboard. A good dashboard also has a good UI, allowing you to see at a glance what functions are available and what you can analyze.
What is BI (Business Intelligence)?
As mentioned above, a dashboard is a type of BI (Business Intelligence) tool.
“BI (Business Intelligence)” refers to the analysis and processing of various data that a company has accumulated and possessed up to that point, as well as information collected from outside the company, and based on this information to formulate future business strategy decisions. It refers to something that is useful for making decisions, or a mechanism like that.
BI (Business Intelligence) is primarily provided as a tool.
Difference between dashboard and report
A report is similar to a dashboard.
Both dashboards and reports are a collection of various information and data related to a company’s business activities, but the difference between the two is whether they are dynamic or static.
A report is a static document that includes text data and image data such as tables and graphs. This is a so-called data set, which cannot be manipulated after being output and is simply a collection of data.
On the other hand, the various data groups displayed on the dashboard are updated in real time, and the screen changes over time. It refers to so-called data visualization tools and is a dynamic medium. Even while data is being updated, the scope and degree of analysis can be adjusted as necessary.
The difference between dashboards and reports is whether they are dynamic or static.
Dashboard features
So far, we have provided an overview of the dashboard. From here, we will introduce five representative functions of the dashboard.
Let’s look at each in turn.
analysis
The analysis function allows you to specify specific conditions and analyze information. Examples include attributes such as time of year, region, age, and gender. The more items you analyze, the more you can segment users and get more detailed analysis results.
Creating charts and graphs
With the chart and graph creation function, you can select the graph format depending on the content you want to create. Typical examples include pie charts, line graphs, and bar graphs.
Basically, it can be created with a neat design without any difficult work, so it can also be used when preparing sales materials and presentation materials.
reporting
Reporting is a feature that allows you to output reports to linked tools. For example, Google-related dashboards can output reports to Google Sheets.
Depending on the dashboard tool you use, some will automatically output reports at regular intervals depending on the time of day or period.
connector
A connector is a feature that allows you to output data from an external tool to a dashboard. Typical external tools include
MA (marketing automation)
tools, Google spreadsheets,
CRM (customer relationship management)
tools, and Google Analytics.
By linking with external tools to import data, you can reduce the time required for manual work.
simulation
Simulation is a function that allows you to make various numerical predictions based on imported data and analysis results. Typical examples include budgeting for the next fiscal year, business performance forecasts, stock price forecasts, etc.
By performing simulations, it is possible to make optimal cost cuts and review running costs.
What role does the dashboard play?
So far, we have explained the basic functions of the dashboard. From here, we will introduce the three roles played by the dashboard.
I will explain each in turn.
Make it easier to consider measures to take
The dashboard’s simulation capabilities can be used as a basis for budgeting, for example. Therefore, by considering the next fiscal year’s budget that can be predicted from the current point in time, you will be able to see how aggressive your sales strategy can be. Naturally, the measures that should be taken will vary depending on the budget, so using a dashboard can be extremely useful for those in charge who are worried about measures.
Also, if you are currently taking various measures, the analysis function of the dashboard will be useful. By importing data from Google Analytics, etc. and analyzing it, you will be able to check whether your current measures are reaching your target, and you will be able to judge whether or not the direction of your measures is appropriate.
Visualize data in an easy-to-understand manner
When a company has many people or multiple people in charge, information and data tend to become scattered. In that case, it takes a considerable amount of time to arrive at specific data, even though the organizations are the same.
However, if you use a dashboard to organize and visualize multiple pieces of data, you can eliminate the hassle of searching for it. Additionally, since the information is visualized in graphs, past data trends can be seen at a glance.
Information sharing
Keep everyone in your organization on the same page by sharing important company information and goals on a dashboard. Furthermore, if you visualize the current budget usage status and number of customers, you will be able to approach your work with a sense of challenge.
Advantages and disadvantages of dashboards
We will explain the advantages and disadvantages of dashboards.
Advantages of dashboards
The benefits of dashboards include:
Accurate analysis allows you to quickly understand your company’s current situation
By using the dashboard, you can accurately understand the current status of your company and the performance of your business as visualized through data analysis. You can perform data mining based on the data digitized and displayed on the screen to improve your business.
Reduces man-hours for data aggregation and document creation
By using dashboards, you can automate data aggregation and document creation, which previously required a lot of effort and time using Excel, spreadsheets, etc. This will allow management resources such as human resources to be allocated to other phases.
Centralization of data allows for quick decisions
The dashboard can be linked with various tools such as Google Analytics and MA. By importing and centralizing the data obtained from each tool, you will be able to visualize information that was previously unknown. You will be able to quickly detect deterioration in management indicators and issues in your company that have not surfaced, and be able to make quick decisions for improvement.
Disadvantages of dashboards
The disadvantages of dashboards include:
Implementation is costly
Tools with dashboard functionality often require an initial cost. In addition, the systems of these tools are frequently updated to maintain quality, and many companies provide them in the cloud for user convenience and usability. In such cases, there will be a monthly fee in addition to the initial fee.
In addition, optional fees may be charged depending on the function, and in most cases a certain amount of cost is required.
Inputting past data can be a hassle
When understanding the current state of a company, past performance and data may be used as indicators for comparison. In these cases, you need to feed the tool historical data.
At that time, the issue is whether the specifications of the past data stored by the company and the tools used are compatible. If there is no compatibility, you will have to input everything manually, and even if there is compatibility, there is a possibility that manual input will be required.
Skills are required to master data
Dashboard screens display data in an easy-to-understand visual manner, but appropriate skills are required to make full use of this data.
To avoid making wrong decisions from the data displayed on the screen, employees need to be educated and trained to improve their analytical skills.
How to use the dashboard
Dashboards are useful in a variety of situations, as they allow accurate data analysis, real-time situational awareness, and information sharing. Let’s take advantage of these characteristics and make effective use of the dashboard. The main ways to use it are as follows.
project management
Dashboards can also be used for project management. Project progress management, process management, employee work status, etc. are reflected in real time, leading to improved work efficiency.
Managing your financial situation
You can also manage your cash flow by taking advantage of the fact that information is reflected in real time. In addition to sales, by reflecting financial data such as profit margin and current ratio on the dashboard, you will be able to efficiently understand your financial situation.
marketing analysis
When using a dashboard for marketing analysis, it reflects the results of sales activities and sales status. By reflecting the number of contracts, contract status, sales for each store, etc., you can check the results of your sales activities in real time. Even when results decline, you will be able to discover the cause at an early stage and be able to quickly consider improvement measures.
10 recommended dashboards
So far, we have provided an overview of the dashboard. From here, we will introduce recommended dashboards for those who are considering implementing dashboards.
Domo
Domo
is a dashboard that lets you connect to your sources with over 1,000 connectors, including Salesforce, Facebook, AWA, and more. Therefore, this dashboard is especially recommended for companies that use various external tools on a daily basis.
It also has an alert function that will notify you when a pre-set budget is exceeded or a KPI threshold is exceeded.
There is a free trial plan available
*
, so if you don’t know which dashboard to try from, you can try it from Domo.
*As of November 2023
Qlik Sense
Qlik Sense
is a dashboard that allows you to analyze data using AI. It uses highly accurate machine learning and is also equipped with Analytics that reflects future predictions. Because this dashboard requires specialized knowledge, it is recommended for companies that want to perform more active analysis.
Qlik Sens requires an annual fee, but it is available at a relatively low monthly price. Consider introducing it if you have a dedicated person in your company or if you want to perform more advanced analysis.
Microsoft Power BI
Microsoft Power BI
is a dashboard provided by Microsoft. Since it is provided by Microsoft, it can be easily linked with Excel etc.
An app version is also available, so you can regularly check your data on the go.
MotionBoard
MotionBoard
is a dashboard that allows you to create graphs with excellent design. It is now possible to create graphs using 3D maps and map data, and as of March 2022, it has the No. 1 market share in Japan.
It is widely used in fields such as sales, management, marketing, and human resources, and it also has specifications that can be used in on-premises environments, so if you want to perform more advanced analysis and graph creation while matching your company’s server environment, You may want to consider MotionBoard.
Pentaho
Pentaho
is a service provided by Hitachi Vantara LLC and is a data pipeline platform that combines both data integration and data analysis. It has been implemented in over 15,000 cases by over 2,000 leading companies and government offices in approximately 180 countries around the world.
Looker Studio
Looker Studio
is a self-service business intelligence (BI) tool provided by Google. Looker Studio includes report templates so you can easily visualize your data in minutes.
Another feature is the intuitive drag-and-drop object function. This allows you to create attractive reports simply by combining data sources.
In addition, Google had a business intelligence (BI) tool called “Google Data Portal”. We acquired Looker Data Sciences, the developer of what was known as a 3rd generation BI tool, and renamed Google Data Portal to “Looker Studio” to unify the product.
Tableau
Tableau
is a visual analytics platform that is available in the cloud or on-premises. It incorporates visual best practices for intuitive operation and is designed to improve usability. The community has over 1 million members who can share information.
Yellowfin
Yellowfin
offers action-based dashboards. We aim to create a dashboard that is more beautiful than other companies in the industry, and the dashboard has a clean design that is very easy to read. In addition to being able to analyze all data with one click, it is also easy to visualize immediately.
Salesforce Sales Cloud
All plans of
Salesforce Sales Cloud
are cloud services. A productivity platform that enables collaboration while automating business processes. By adding AI to automation, we are increasing the speed of work.
Additionally, by utilizing AI-based prediction and presentation, sales staff can take appropriate actions. By making good use of real-time data, you will be able to conduct sales activities more efficiently.
board
board
is a dashboard that uses the Microsoft Azure cloud and can be accessed from any device. It’s easy to customize the screen, and its strong security and expandability are also great features. It has been installed in over 2,000 cases and is used by major global companies.
summary
In this article, we have explained about dashboards. Dashboards have the role of making it easier to consider measures to take and visualizing data in an easy-to-understand manner.
If you make good use of reporting, graph creation, simulation, etc., you will be able to improve your business efficiency with dashboards.
Why not start by considering which dashboard to use from among the tools explained in this article?