In our blog we mentioned how to get insight from complex data by various methods and ways. In fact, one of the most efficient way, we said, is to visualize the data. However, visualization might not be always done manually. Thus, having a few tools in hand to cluster and visualize the data would be a real time saver when it comes to business reporting. Hence, dashboards become core things to look when it comes to quick visualization. Instant graphs and visuals in reporting may be life-saver since decisions are still taken by human agents although artificial intelligence clears the complex path for them. Therefore, dashboards’ assistance on business reporting cannot be overvalued in terms of their capability in agility and quick-response.
Definition of dashboard is intuitive and easy to understand; however, there are some distinctions between some types. The formal definition of widely used usual dashboards is associated with a lot of things such as process tracking, progress control and fault detection. However, the widely used dashboarding methods are lack of useful insights and analytics. The real challenge in analytical reporting is to understand what to understand from the data in hand. In fact, the predictive analytics and descriptive analytics tools are vital for their limitless borders in terms of data insights. Nonetheless, the usual dashboards may not always give what you want from the data as their offered insights are not non-technical-proof; that is, a non-technical person may have a hard time to get the full knowledge. On the other hand, a technical person may not get the exact vision from them either as their capabilities in giving the detailed information are limited.
Therefore, the data dashboards come to scene as the lead player in the business reporting area. The limitation of usual dashboards in business reporting is not a big problem as the solution comes after it. We mentioned data is limitless; thus, the methods to understand them are also limitless. In fact, when things become complicated, measures to simplify them got attention. Current attention in business reporting is now on data dashboards where comparing and contrasting of data is at core. That is, listing variables, comparing the similarities, and pointing out trends are the key factors of the data visualization and analytics in business reporting. The reason why it got widespread is 21st century paradigm that brought bigdata to every other situation where non-technical people get complex insight as well as technical people.
The benefits of dashboard or to be more specific, data dashboards are numerous. As their usage area is getting bigger and bigger due to big data epidemic in all sectors, all the benefits had spread to grassroot levels. Thus, their ultimate benefits in all sectors are:
- Miscalculating Market Fit: whatever business you are starting, a good market-research is a must. However, an undeniable part of startups of are going out of business because they had calculated or predicted the market need of their product/service totally wrong. Although there isn’t any one correct way of starting a good market need analysis, a good analysis starts with an intuition where business owners must ask themselves whether they are presenting something customers really need.
- Financial Issues: This is the most obvious one. Many of the enterprises go out of business when they across a financial drawback even in their first time. The misprediction of short-run and long-run economic models are main causes; nonetheless, the financial issues are two-faceted: low starting funds are deadly due their vulnerability to shortcomings where to much funds are as much as deadly due to their danger of underestimation of allocation.
- They can be customized in to every form and be used for every situation by wide range of people from all educational levels.
- Their capacity to show everything in one screen is vital for screening, reviewing, and analyzing different data from different places is undesired burdensome process which will also slow the workflow.
- Although showing everything in one screen, the desired information can be enlarged in to more detailed version to see the shortcomings or strong points of related data. Thus, going into deep detail from a larger view can be done instantly.
- Every person from all backgrounds can assess the insight given by the dashboards as they had been designed to give the related information intuitively to anybody.
- They are, thanks to merits of latest cloud computing improvements, accessible from everywhere. Thus, mobile devices become great tools for accessing the dashboard; hence, the information.
Enhencer uses latest design ideas to keep its dashboard neat, insightful, and accessible as those components are vital to execute the business reporting smoothly. Complicated visuals and analytics converted into simple graphs and assessments that can be developed in to more detailed version instantly; thus, whether a non-technical person or a technical one is looking no matter what has been looked, Enhencer’s dashboard would give the most relevant insight instantaneously.