Business Intelligence is an enterprise-wide platform and is a collection of processes involving the extraction of the right information for implementing them into right decision process. BI assists the organizations in changing the collective information into knowledge and further changing it into effective plans.
A dashboard is a visual display of the most relevant information required for tracking the pre-defined goals of businesses and achieving one or more defined target. They are consolidated at a single screen showing the data points that are helpful for the enterprises or the supporting bodies like Sales, IT or HR. A well-designed dashboard is considered an integral tool for taking forward the smart strategies and tactical plans.
What is the Connection Between Dashboards and Businesses?
Every Business Manager makes use of numerous tools for tracking the progress and identifying how the business goals are progressing and performing. Dashboards assist the employees at all levels to track their work and provide a glimpse of the assigned tasks.
Function of Dashboards
The prime role of Dashboards in businesses is somewhat similar to the usage of them in automobiles. Business dashboards avails various measures that give information about the business performance. These measures here indicate, the key performance indicators, i.e. the KPIs or in easier words can be called as the measurable indicators that can determine a business’ growth or failure. Most of the businesses use them for tracking the profits by studying the achievement and revenue forecast during certain quarters of a business year.
Use Dashboards to Track Performance
The Key Performance Indicators (KPIs) of every business is dependent on the type of business, as each one of them has a different set of indicators. Also, the leaders define them as per their requirements and the tasks. However, the widely used Key Indicators considered for tracking include, the rise or fall in numbers of sales and revenue, profits earned as per department or region, ratings received from customer satisfaction. Some dashboards have the facility to be customized according to the individual’s requirements.
Who all are Getting Benefitted by Dashboards?
There are many industries that are already making use of dashboards and getting benefitted by them in planning the organizational strategies and measuring past performance.
- Healthcare: Dashboards are used in healthcare domain for monitoring various drifts of big problems and preventing it accordingly. They can also be used to note down the instances of certain diseases like an epidemic or pandemic etc.
- Casinos: They make use of dashboards to find out the information related to the games that players are choosing and what is the trend of winning those games.
- Manufacturers: Manufacturing industry also uses dashboards for collecting information in relation to production numbers and business make use of them for tracking the figure of sales.
Hence, dashboards are becoming an important part of the business and making them present their data in an organized manner. Businesses are adapting to this environment and making the best use of the derived information for achieving heights in their arena and thus making themselves familiar with Business Intelligence techniques.
Understanding the needs of businesses and the requirements of the candidates having expertise in Business intelligence, Microsoft® avails the course that can help the aspirants to have a deep knowledge of the concepts and validates their skills in the professional environment. Candidates can opt for a formal training before they plan to appear for the Certification exam.
Source by Saba Zehra Rizvi