/ 7 reasons BI dashboard sharing is essential for business growth
7 reasons BI dashboard sharing is essential for business growth
As companies continue to utilize data as an integral part of their decision-making processes, the importance of sharing business intelligence (BI) dashboards has become increasingly apparent.
Businesses that share BI dashboards among employees can make better data-driven decisions, understand what’s working and what isn’t, use resources better, increase transparency and accountability, facilitate collaboration, support the remote workforce, and enhance customer service. Yet far too many companies fail to realize the full potential of their BI investments by not making it easy for employees to access and share dashboards.
Rather than storing BI dashboards on individual computers or on a company intranet where only select employees can view them, businesses should consider using a cloud-based solution that makes it easy for anyone in the organization to access and share dashboards.
There are many reasons why sharing BI dashboards is essential for business growth. In this article, we will explore seven of the most important ones—and why a cloud-based solution is the best way to enable BI dashboard sharing in your organization.
1. Make better data-driven decisions
First, we must begin with the most important reason for sharing BI dashboards: to make better data-driven decisions.
In order for businesses to make sound decisions, they need to have access to accurate and timely data. But often, the data that decision-makers need is siloed within different departments or spread across different computer systems.
This can make it difficult, or even impossible, for decision-makers to get the information they need in a timely manner.
BI dashboards that are shared among employees can help solve this problem by providing a single, centralized location for all of the data that decision-makers need.
Dashboards can be easily customized to show only the data that is relevant to a particular decision, making it easier for decision-makers to find the information they need and make better decisions.
For example, imagine that you are a marketing manager who needs to make a decision about which digital marketing channels to invest in. If your company’s cloud-based BI dashboards are shared with relevant users within your organization, you can easily pull up a dashboard that shows you how much traffic each channel is driving to your website, what the conversion rate is for each channel, and how much revenue each channel is generating. This information will help you make a more informed decision about where to invest your marketing budget.
2. Understand what’s working and what isn’t
In addition to making better data-driven decisions, sharing BI dashboards can also help businesses understand what is working and what isn’t.
When employees have access to dashboards, they can quickly see which parts of the business are performing well and which parts need improvement. This type of visibility is essential for driving continuous improvement in the organization.
For example, imagine that you are a human resources manager who wants to improve employee retention. If your company’s BI dashboards are shared within your cloud BI tool, you can easily find a dashboard that shows you how many employees have left the company each month, what the average tenure is for employees who have left, and what the turnover rate is for each department. This information will help you identify trends and areas that need improvement so that you can take steps to reduce turnover and improve employee retention.
3. Make better use of resources
Another important reason for sharing BI dashboards is to make better use of resources.
When employees have access to dashboards, they can quickly see which parts of the organization are using the most resources and which parts are not.
This type of visibility can help businesses optimize their resource usage, resulting in increased efficiency and cost savings. This awareness can also help organizations avoid wasting resources on projects that are not delivering results.
For example, imagine that you are a project manager who is responsible for managing a team of developers. If your company’s BI dashboards are shared, you can easily pull up a dashboard that shows you how many hours each developer is working on each project, what the progress is for each project, and how much each project is costing. This information will help you make sure that your team is using their time efficiently and that the projects they are working on are meeting their deadlines and staying within budget.
When employees have access to dashboards, they can quickly see how well the company is performing against its goals.
This awareness can help hold employees and managers accountable for their results and ensure that everyone is working towards the same objectives. For example, if a sales manager can see that their team is not meeting their sales targets, they can take action to improve performance.
This type of accountability can help drive better results in the organization. And when employees feel that they are being held accountable for their results, they are more likely to be motivated to do their best work.
5. Facilitate collaboration
Sharing BI dashboards can also help businesses facilitate collaboration. When employees have access to dashboards, they can quickly see which parts of the organization are working well together and which parts need improvement.
Plus, when employees can see how their work fits into the bigger picture, they are more likely to be motivated to work together to achieve common objectives.
6. Support the remote workforce
Another benefit of sharing BI dashboards is that it can help businesses support the remote workforce.
As more and more employees begin working from home, it’s essential that companies make information available to them so they can effectively perform their roles. They shouldn’t be at a disadvantage just because they’re not in the office where information is shared frequently, both formally and informally.
Sharing dashboards using a cloud-based BI tool ensures that any authorized user within an organization can have access to important data to help them make informed decisions.
As more companies make the move to remote work, sharing BI dashboards will become an increasingly important way to support the remote workforce.
7. Enhance customer service
Finally, sharing BI dashboards can also help businesses enhance customer service. Shared dashboards containing customer service information can help all customer-facing employees understand where they can improve in their efforts.
For example, if a customer service representative can see that their team is not meeting their call answer rate goals, they can take action to improve performance. When employees have access to customer service dashboards, they can quickly see which customers are not happy and take steps to address their concerns.
Improved customer service can help businesses build loyalty and improve retention.
Which BI dashboard tool is right for your business?
There are a number of different cloud-based BI dashboard tools available on the market. And choosing the right tool for your business can be a challenge.
There are a wide variety of BI dashboard tools available on the market, each with its own unique set of features. And choosing the right tool for your business can be a challenge. Here are a few things to consider when you’re choosing a BI dashboard tool:
Consider your specific needs and objectives. What features are most important to you and your team?
Compare the pricing of each tool before making a decision
Be sure to choose a tool that is easy to use and that provides support in case you have any questions
Once you’ve chosen the right BI dashboard tool for your business, you’ll be well on your way to improving business growth. By sharing BI dashboards, businesses can improve their processes and ultimately make better data-driven decisions.
Check out some related resources:
There’s an App for that—Tips for Crafting Apps, Dashboards, and other Engaging Data Experiences
Harnessing the Power of Data to become a better Credit Union
Domo for Marketers: Tips and tools to seamlessly manage marketing data
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