Let’s explore the common types of dashboards used in the business world. These can be categorized into three main types: operational, strategic, and analytical.
1) Operational Dashboards: Operational dashboards are designed to monitor the day-to-day activities within a business. They provide real-time or near-real-time data, which helps teams track their performance and identify issues as they occur.
For instance, imagine a call center that needs to monitor the number of incoming calls, average call duration, and customer satisfaction ratings. An operational dashboard would display these metrics, allowing managers to spot trends and make adjustments to improve efficiency and customer experience.
2) Strategic Dashboards: Strategic dashboards focus on a business’s long-term goals and objectives. They display Key Performance Indicators (KPIs) that are tied to the organization’s overall strategy, typically updated monthly, quarterly, or yearly.
Let’s say a company’s objective is to increase its market share by 10% over the next two years. A strategic dashboard could track metrics like revenue growth, customer acquisition, and product performance. This allows decision-makers to assess progress toward their goals and make informed decisions about where to invest resources.
3) Analytical Dashboards: Analytical dashboards are used to dive deep into historical data, identify trends, and uncover hidden insights. They often include advanced data visualization tools and filters, enabling users to perform in-depth analysis and make data-driven decisions.
For example, an e-commerce company may use an analytical dashboard to study the success of its marketing campaigns. By examining data such as website traffic, conversion rates, and customer demographics, the company can identify patterns and make informed decisions about which marketing strategies are most effective.