6 Reasons Your Company Needs a Data-driven Business Intelligence Dashboard
Businesses are collecting all types of data through systems every day, and probably more than they know what to do with.
There are multiple website analytics telling you how people are interacting with your site, marketing and sales data, and operational data, like how long it takes a customer to get an order or have a call answered.
Big data is no longer just a buzzword, small and large businesses in Wabash, IN and beyond are living in a world where data comes at them from multiple directions.
One of the major IT solutions that separates those that benefit from that data from those that can’t harness its insights is a business intelligence (BI) dashboard.
What’s a BI Dashboard?
BI Dashboard’s are a type of software that connects to multiple data sources, aggregates the data for you and then displays it in easy-to-understand visual charts and graphs.
95% of businesses say one of their limitations is not being able to properly manage unstructured data.
These platforms are built with advanced AI capabilities to bring you insights from your data that you may not have realized where there. They’re also designed to simplify the process by doing all the data wrangling for you.
What Are the Benefits of Using a BI Dashboard?
Make Data-Driven Decisions
Without the proper data, you can make the wrong decisions that hurt your business instead of helping it.
For example, say that you begin seeing rising costs due to damaged shipments right after you changed to a new shipping company. If you looked at only those two datapoints, you may go back to your original shipper thinking you solved the problem.
But later find out that shipments are still being damaged, because it wasn’t the new shipper at all, it was the fact that the shipping department switched to a cheaper packaging.
That’s the type of problem that can happen when you’re not looking at all the data.
Business intelligence dashboards have the power to “read the tea leaves” of your data for you and bring you insights based upon multiple business KPIs.
Make Vital Decisions Faster
If you’re trying to keep all your website statistics in spreadsheets and then chart them into comprehensive analytics, it can take a week before you find a dramatic drop in your site traffic.
Manual data wrangling takes time and it can also be susceptible to human error.
Once you connect a BI dashboard platform to your data outputs, it can give you insightful information in real-time that allows you to make immediate data-driven decisions much faster to keep your business on course.
Improve Customer Experience
Knowing exactly why a customer is or isn’t buying is vital to any company. One bad customer experience can mean lost sales and potential long-term customers.
From how long it takes a customer to get their chat answered to how happy they are with their overall experience, if you have the ability to look at multiple customer experience data points in a comprehensive way, you can zero in on changes that will improve their experience and your sales potential.
Reduce Employee Turnover
Employee turnover can mean high costs for a business. They not only have to continually retrain new staff, their operations can never hit the same stride as those with long-term employees that help their companies grow.
Using analytics that look at employee satisfaction KPIs and metrics, you can identify problems in your working environment that you can improve to reduce turnover rate and improve overall employee morale.
Customizable to Your Needs
While BI dashboard platforms come with multiple pre-built templates that make getting started easy, they also allow you to customize reporting to your needs.
If you’ve always wanted to see different data points correlated in a specific way, but your staff could not figure out how to do it in a spreadsheet, there’s a good chance that you can customize the report you want in a business intelligence application.
Cloud-Accessible & Sharable Analytics
Do you want to make sure your sales team starts their morning with up-to-the-minute sales analytics and graphs? This is possible using a BI dashboard.
These platforms are cloud based, so they can be accessed from any device. Reporting can also easily be shared with whomever you like and how you like.
For example, you could create one dashboard report for your accounting team and a different one for your sales team. You have the ability to seamlessly share the data that each person in your organization needs to see, without someone on your staff having to compile a ton of reports every day.
Make Your Business Better with Business Intelligence Solutions
Skyline Business Technology can help your Indiana busines put the reporting metrics in place to help you make faster, smarter, and more data-driven decisions.
Contact us today to schedule a consultation. Call 260-225-3133 or reach us online.