Imagine driving a car without knowing your current speed, how much fuel you have left or how much further until you reach your destination. You can do some guesswork based on experience, but anyone who has a choice will opt for having all relevant information accessible at a glance. In the digital world, companies have actually adopted the term "dashboard" from the automotive industry for the same reason. Being confronted with an incredible amount of diverse marketing data, a business intelligence dashboard serves as an indispensable tool to leverage information using data visualization technology. The benefits can be broken down as follows:
Data is arguably the most important asset of any company. But it is of little use if no one can access or understand it. A well-designed dashboard provides access to all important metrics without requiring special knowledge or technical skill by consolidating multiple data sources into a single, user-friendly interface. Furthermore, instead of only having access to static information, dashboard users can filter data and interact with charts to gain additional insights. A web-based dashboard enables on-demand access to current data from anywhere on the planet.
Dealing with a multiverse of different data sources in a fractured online marketing world can be overwhelming and time-consuming. Having all data combined and transformed into useful information that is presented in one place saves a lot of time and makes any decision-process much easier and more efficient. The complexity and sheer size of raw data are condensed without losing relevant information. Filters and drill-downs allow specific questions to be answered immediately.
Once data can be easily accessed, all following processes are facilitated: monitoring marketing campaign developments over time, tracking specific data points and evaluating relevant metrics. These processes can be even further aided in the dashboard by using indicators like benchmarks or traffic light signals based on threshold values. Since what gets measured gets managed, relevant key performance indicators (KPIs) can be derived from strategic goals and used in a dashboard in order to generate actionable insights based on current developments.
Using a dashboard leads to a better understanding of relationships within the data and the consequences of when certain marketing actions are taken. Users are able to extract value from the information presented and gather knowledge based on a single source of truth. Well-designed dashboards fuel this process with crisp visualizations and advanced analytic methods, supporting the users in their day-to-day operational activities as well as in their long-term strategic decisions.
Understanding precisely how marketing campaigns affect your business can be hard work - unless you use the rights tools. A dashboard serves as a powerful instrument that helps you see clearly what is happening, understand why it is happening and take the appropriate actions based on these insights. Having a data-driven decision process removes personal biases from the equation and leads to better results, boosting the overall success of your business.