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Saturday, Nov 01, 2014

The Benefits of Business Intelligence Dashboards

Benefits of Business Intelligence Dashboards

Any enterprise, big or small, is a highly complex network of systems, processes, technology, and human resources, to name a few. The business landscape is forever in flux. As an enterprise grows, so does the environment where it competes. Despite all the focus and investment on improving business processes across an enterprise, businesses still fail to grasp the basics of sustaining in a competitive market and thus survival becomes a premium.

The challenges of sustaining in today’s competitive market are plenty. Poor decision making coupled with inadequate technologies make an enterprise vulnerable to shut its doors. Inadequate data management capabilities in a data-driven world contribute to an enterprise’s downfall as well.

In such a dire situation, businesses across all industry verticals have no option but to harness the power of business analytics and intelligence. Gone will be the days of flat reporting, disjointed and conflicting information, and resources that turned a blind eye to accountability and change.

Enter the world of analytic dashboards and cutting edge business analytics. In a single deployment, you will have access to a world of innovation and best practices.

Business Intelligence Dashboards as a Solution

Data is the backbone of your business analytics arsenal. With a proper analytics dashboard strategy in place, you can:

  • Identify and consolidate relevant information, such as Key Performance Indicators (KPIs) from a multitude of sources.
  • Organize and present information that can be easily consumed by the relevant audience.
  • Standardize and introduce transparency in sharing compartmentalized data.
  • Enhance decision making and policy implementation.
  • Eliminate data inaccuracy and redundancy.
  • Encourage more stakeholder participation.
  • Distribute contextual information across all channels.

In addition, an analytics dashboard can help you stay ahead of the curve and respond to market volatilities faster and better, while maintaining a lean and agile structure. Further, you can:

  • Reduce IT redundancy and resource wastage through on-demand, real-time reporting.
  • Adopt just in time inventory and Kanban principles to reduce manufacturing and inventory costs.
  • Visualize data in a manner tailored to your requirements. Role-based views and self-service capabilities will further enhance your business processes.
  • Integrate your dashboard with 3rd party enterprise systems and sub-systems, thereby eliminating the need to procure additional systems.
  • Enforce single sourcing of data and publish it to multiple channels.

The Future of BI Dashboards

Dashboards continually evolve to enable the next generation of workforce focused on the right metrics. The future of business intelligence dashboards hinges on the following trends:

Mobile: With BYOD becoming the norm, analytics dashboards will be ubiquitous in smartphones and other mobile devices. As more native apps proliferate the market, BI vendors will develop dashboards that will not only produce the optimum data, but also deploy stringent security standards.

Cloud: Multitenancy and on premise data management will become a routine deployment option for dashboards. Cloud-based reporting and analytics will be deployed enterprise wide for more workforce flexibility and ever-changing demands.

Location analytics: Geographic visualization, ability to detect spatial trends, and reporting in form of maps will give the world of business intelligence dashboards several dimensions. Spatial relationships and clustering trends will assist in the creation of a location-intelligent data warehouse.

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