Utilizing a Business Dashboard
A Business dashboard is a valuable business intelligence tool, offering an “at-a-glance” view of a company’s performance.
Some business owners use dashboards to track KPIs (key performance indicators) for just one aspect of their business, such as sales growth or financial data. Others want an overview of data from various sources, such as their accounting software, CRM tools, and website analytics.
The great advantage of a dashboard is that it makes complex data easier to read using visual tools, like tables and graphs. With this information, business owners are empowered to make better real-time decisions.
Better business intelligence
Business owners get the most value from using a dashboard when they have specific objectives in mind. By knowing your objectives, you know which data to monitor, and which type of dashboard will help you meet your goals.
Think about your priorities for the next six months, year, three years.
- Are you looking to increase sales?
- Do you need to figure out where to reduce costs?
- Do you need help determining which product line to scale up?
Once you’re clear on your goals, test drive a free trial to get a sense of how business dashboards work and find one that might be a good fit for your needs.
Of course, free software with limited features won’t demonstrate everything a dashboard can do. But testing one out can help you see the potential for your business, and decide whether to look into other paid options.
Dashboards Options
Below are three QuickBooks Online compatible dashboards that you may want to take a look at:
- Domo – All your data, on any device, at the speed of now.
- Klipfolio – The flexibility you want, the data you need.
- Fathom – Transform your QuickBooks data into insightful reports and presentation.
Final thoughts
The main advantage of using a dashboard is that it can help you make more informed decisions. Better informed business decisions will have a positive impact on your company’s agility, competitiveness, and the bottom line.
Using a dashboard can help you spot problem areas and negative trends quickly, so you can take steps to correct them. You’ll know what to do more of to increase sales and profits, and implement the best strategies to achieve your business goals
If you haven’t updated your business plan recently, take some time to identify your high priority objectives. Then you can take the next step and find a dashboard that offers you the business intelligence you need to meet your current and long-term goals.