Decision-makers in today's business world face challenges placed upon them because of advancements in technology and globalization. Executives must now sift through data presented in different formats, stored in different places, and created by multiple people. Managers often work with staff dispersed not only in multiple offices, but often across the country and the world. Smart business decisions are based on "all the facts" but pulling those pieces together is a daunting task.
How do dashboards help decision makers overcome those challenges?
Today's smart business leaders look to business dashboards to help them meet those challenges. Why? Because dashboard solutions pull the data together into one at-your-fingertips place. And they enable users, no matter where they are or what their technical know-how, to contribute to and use the data. A well-planned dashboard is easy to use. It clarifies the relationship between data for better decision making. It allows decision makers to spot opportunities and trends which enables many positive outcomes such as cost reduction and optimal use of resources. Since dashboards quickly sort through data, they help promote informed and responsive decisions. The user can see results and understand what drives the numbers.
The benefit of a dashboard is it draws together the data AND the people. Companies that use a dashboard to allow automatic access to corporate data (accounting, inventory, customers, etc.) and with this gathered data they can automatically produce and distribute reports to people in the organization.
Some reporting tools deliver automated reports to users on a pre-defined schedule. Users can set whatever schedule they choose, ie. daily, weekly, monthly, or on an as-needed basis. People in the organization can customize reports by inputting parameters like date ranges.
Excel dashboard software is an example of a business solution that allows everyone in an organization to get the most out of business resources they already understand. Excel is a tool that most business people are accustomed to using on a day- to-day basis. They know how to use the basic features, already have it on their computer, and can easily share files between one another. One of the challenges of Excel is manually creating visually complex dashboards. Reporting tools enable everyone on staff to use automated Excel dashboards.
Executive dashboards lead to informed decision-making and collaboration
In summary, dashboards enable decision-makers to look at the whole picture. They enhance a company's ability to share and update data across boundaries of time and space. This data is then available in one consolidated place in a familiar format like Excel that makes access simple, useful, and universal.
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