What is a KPI Dashboard?

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When you are driving your car, a single glance at the instruments , dials and gauges on your dashboard can tell you all you need to know about whether you are going to get to you destination in time and one piece. You can immediately tell whether you have enough fuel, how fast you are travelling and whether your engine is coping well with your driving. Cars also come with warning lights that flash or turn red when you need a mechanic .
In a similar way, a business dashboard is a simple visual display of the most important information that decision makers need to help them achieve objectives. Business dashboard can be created for 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. A well designed dashboard provides information that allows you to deal with issues before they become problematic and affect performance . An example might include a call center metrics dashboard that displays the number of calls, average wait time on hold and so on.

You 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. For example, a marketing dashboard could give management an idea of how fast the company is penetrating the e-commerce market.

Both types are important for business success. Organizing your information, developing the right set of metrics and key performance indicators for your business and extracting meaningful insights is all well and good but it wont count for anything unless your organization effectively communicates and reports those insights to others.
Watch till the end of this 365 data science tutorial to find out best practices in designing a KPI dashboard in 5 tips.

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