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KPI Dashboard – Create the best one for your Business
Organising your key performance indicators (KPIs), developing the right set of KPIs for your business and extracting meaningful insights from the data is all well and good, but it won’t count for anything unless your organisation reports and communicates the KPIs to others effectively. Because, in the end, KPIs are only really effective if the right people get the information they need – in a way they can understand – so that they can make better decisions. KPI dashboards are a great way of communicating insights from key performance indicators to the people that need them.
Why KPI Dashboard?
KPI dashboards are best considered from an operational and strategic perspective. An operational dashboard allows you to check the day-to-day processes and outputs of your business to make sure everything is running smoothly. It provides information that allows you to fix issues before they become problems and affect performance. An example might include a call centre KPI dashboard which shows the number of calls, average wait time on hold, etc. Your strategic dashboard, on the other hand, looks to the future and seeks to identify obstacles and challenges that you may face on the way to achieving your strategic goals, such as profit projections, market share growth, etc. Both types are important for business success.
A good key performance indicator dashboard gives decision makers quick access to the critical indicators or instruments of the business, and helps them decide whether they are on track or not. Unfortunately, some KPI dashboards are a case of style over usefulness, or are so crowded with detail that it’s impossible to decipher the important information. Designing a good key performance indicator dashboard takes careful thought.