With the obsession to automate, it is not surprising that most business use dashboards in every department for decision making purposes. Regardless of the dashboard tool that is used, dashboards provide multiple analytical metrics which are visually presented. Usually it combines the most important performance indicators, KPIs (Key Performance Metrics). Dashboard in a business sphere is a pure visualization tool that allows to see numbers, metrics, trends and scorecards presented on a single screen according to the business needs. On the surface the dashboard description appears to be a perfect instrument for any team to see all highlights at once and make the right decisions. However, in reality it is not that simple. So why it is not as perfect as it should be. Here are some reasons that make BI dashboard far from being ideal.
Too many data points: There are different departments in any organization and they have goals, metrics, practices and rules. It means that their roles and performances vary. The result is that each team of the company requires its own, individual performance indicators and logically its own dashboard. Having many metrics makes it hard to really see the big picture or has become useless that departments start to ignore key signals!
Wrong Metrics: Sometimes analysis presented in the dashboard looks exclusive visually but provides numbers that do not lead to any changes and do not answer the questions, therefore, are useless. Simply speaking there are wrong metrics. The only way out is to set up objectives and gauge the actions that you have defined as ones to generate the outcome.
Not Actionable: Any dashboard main function is to reveal current significant measurements that enables the team with meaningful insights at a glance. It should be used as a trigger to action that is supposed to lead to a positive change. Unfortunately it is not always the case because pretty often not many people know what KPIs to pull from the data and how to measure them.
Not the right tool: Let’s say you know what to measure and where to take the necessary data. But the problem is that your system is not powerful enough and is just not suitable for the job required. Therefore, you may need to pull an ad hoc report or utilize a different tool to perform certain analysis. For example, segmentation modelling cannot be done in a dashboard.
Unprepared Data: You may be dealing with dirty data that have not been cleaned for a while and the metrics shown in your dashboard are out of date and distorted. If your data set is full of not complete, invalid, outdated records, duplicate records, wrong formats and contains empty cells then your dashboard controls are serving you no good at all. The solution is to clean the data prior to creating the dashboard.
Presenting meaningful insights is a complex and not an easy practice. Lacking analysts on your team makes it more complicated. That’s where marketing analytics consultants can be of great help. They have the ability to present right metrics as well as advise you on the relevant measurements and actions. They can help save you time and money because they are skilled for the job and can do it faster. Only metrics that lead to actions and beneficial changes are worth analyzing. Timely marketing analytics services can assist in data cleansing and data preparation prior to analysis. Their expertise and knowledge can help enhance your business intelligence and reveal valuable and actionable KPIs. Marketing Analytical services are here to share their proficiency and add up to the success of your organization.