How To Pick The Right KPI Dashboard Software For Your Company
by Christian Ofori-Boateng on Apr 11, 2017 8:30:00 AM
Most likely, you already know the benefits of using dashboards in your business to make it more profitable. However, not all dashboard software is the same. You want to pick the right KPI dashboard that will help keep your business on track. Choosing the right one can make all the difference in the world, and give your company the advantage over its competition. Take the time to review the features below, which are all traits that define good metric analysis software.
Know Your Requirements Before You Choose
There are different types of dashboard integration your company can use. Based on the size of your company and the skill of your employees, your personalized requirements for KPI dashboard software will change. There are three types of deployment options available for dashboards in a business. These include desktop applications, which are great for single users instead of teams. Next, on-premise software is great if you have your own experienced IT department and excess capital to invest. Lastly, you have the cloud-based software. Cloud dashboards are the easiest, most convenient types and save you money in the long run too. Figure out what type you need before you start choosing a software.
What Data Can be Read by Your Software?
Data exists in many forms and comes from different sources. In a business, there are various ways in which data is collected (and many formats too). The KPI dashboard software you choose should be compatible with all the types of data your business collects during normal and special operations. The last thing you need is to have to completely overhaul your data collection and retention policies to suit your new software, which can incur large costs.
All KPIs Displayed Simultaneously
Some dashboard software works based on the department. If your company has multiple departments, each head of the department will be able to access and view the KPIs of their department for that month or time period. As the owner, you should be able to view the overall progress of your company regardless of the department. Good KPI dashboard software grants access levels, allowing you to view the KPIs of all your departments on request, regardless of the type or security in that department.
Real-time Dashboards Rule the Roost
The businesses of today make use of data that is constantly being changed, deleted, or updated. These changes can occur in large volumes over short periods of time. This is especially true if your business has multiple branches. To make informed, strategic choices for the good of your business, you need your KPI dashboard software to update in real time as and when the changes to your data happen. The longer the lag in your reports being generated, the harder it is to adapt to your changing business environment.
How is Data Presented to You?
Different dashboard software presents its data in different ways. What works for one person requesting a presentation of KPIs, may not work for another. First, think about how you want your result presented to you. Ideally, you would look for charts, graphs, animations, and other visual delivery methods. Presenting statistics visually is one of the best ways to get a look at how your company is performing overall. Looking for minute differences in how two different dashboard software applications present their data can boost your decision-making process in the long run.
Choosing your KPI dashboard software may be a difficult process, but it is worth it in the end. Look for all the key features, including real-time updating and automatic dashboard creation. Features such as security levels and access control are also important. In addition to these, take into consideration how data is presented to you and the ability to display data centrally. You should also be wary of software that isn’t compatible with your current data formats. With all these in mind, you’re sure to make the right decision for your company and enter the Digital Age in style.