Why Every Business Needs Dashboards and Data Discovery Capabilities
The shortest path to business information
The ultimate goal of investing in your reporting systems is to gain faster, more accurate, and more valuable business insights, which enables you to make better business decisions.
We often speak with clients who have invested a lot in better data quality, larger data warehouses, and faster planning and calculation capabilities – but they still struggle to compile meaningful reports on a rapid basis. There are still many jobs at these companies with the sole purpose of extracting data and compiling reports for an executive, day in and day out.
The final stage in an analytics systems upgrade should be finding the fastest, most automated way to get the business insights to the people who need them. There shouldn’t be a person delaying data from reaching decision makers.
Dashboards are a great part of every company’s analytics suite to meet for the following needs:
- Reading a dashboard is the quickest way to see answers to your common business questions
- Data Discovery capabilities can often help users learn unexpected facts about their business’ performance, because it communicates certain messages more strikingly than a spreadsheet
- Employees who work every day compiling common reports can instead spend their efforts on analyzing the data and bringing critical findings to the attention of executive decision makers
Here is a scenario that we commonly see across many industries:
- Analyst compiles a report
- Dumps findings in PowerPoint
- Executive reviews data, wants to see more detail in a certain area
- Asks for edits, Analyst sends over new PowerPoint deck
- Executive presents the ppt, gets questions, unable to drill down further in ppt
- Sends new requests to Analyst, new PowerPoint file
The scenario that we prefer to implement is this:
- Executive opens up dashboard, sees commentary from analyst who has already reviewed the data
- Executive saves views relevant to presentation
- When receiving follow up questions mid-presentation, executive drills down into data and answers the questions immediately
As you can see in the second scenario, having a well-designed dashboard saves this group time and effort, which they can now use to focus on analyzing business conditions.
Method360 offers free workshops to help decision makers like you learn about the business benefits of using great dashboards, and get your hands on some of the different solutions in the marketplace like SAP Cloud Analytics, Tableau, Qlik, and many others. Contact Method360 to schedule a demo today.