What Are Performance Dashboards?

Unquestionably, a successful business relies on informed decision making.  However, the ever expanding amount of data available prove perplexing to the most diligent professionals.  A performance dashboard is a quick, easily understood reference to the key data points that drive your business. Accordingly, to enable simplicity, dashboarding software uses simple visual ques, such as graphs and traffic signs, to highlight the status of your key performance indicators (KPI).

Performance dashboards present what is commonly known as an executive summary.  They can describe customers, that is, present the KPIs associated with a single customer account, regions, or aggregate data for your entire enterprise.  For instance, a financial dashboard will likley contain elements, such as profit, revenue, and contribution margin; however, it may also correlate other valuable non-financial metrics such as customer satisfaction.

Performance dashboards generally track KPI through an array of financial and forecasting formulas.  To power these formulas, a comprehensive dashboard is interoperable with a  variety of data technologies, such as Oracle, SAP, Microsoft, and Google Analytics.  Modern dashboards link seamlessly with distributed and cloud based networks to enable real-time data analysis.  Above all, scalability and flexibility of dashboarding software is important.

What sets a performance dashboard apart from other types of data presentation is it’s design.  The dashboard should fit on one page or screen and provide transparency for the most important KPIs.  Commonly, the dashboard will include basic data presentation such as pie charts and bar graphs.  For example, simple line charts effectively present data across time; such as, customer satisfaction month-to-month.  However, elegant performance dashboards use common visual tools such as gauges and stoplights.  To illustrate, a gauge, presented in a similar format as a fuel gauge, can indicate budget consumption at a glance.  Likewise a stoplight is a high level abstraction for your project’s health.  That is, green is good and red quickly calls attention to areas that may need to be monitored more closely.

Whereas traditional dashboarding software was relatively static, recent innovations have increased the power of these tools through networking and mobile technologies.  Modern integrated performance dashboards allow you to set indicators which trigger an alert email when certain conditions are met.  Additionally, cutting edge dashboards will provide a mobile experience for smart phone and tablet devices to enable you to stay connected with your data on the go.  Moreover, the ability to comment on dashboards through social networking features is valuable innovation which has been added to some modern performance dashboards. 

Financial Analytics and Reporting Dashboards

A picture is worth a thousand words. This age old adage holds true today more than ever in a viral world. People need information quickly and concisely and the companies that are able to meet this requirement are the ones who succeed. The world of finance and business management is no exception. When it is your job to analyze, organize and implement based on immense volumes of data how you choose to display and communicate that information to an end user is crucial.

Spreadsheet tracking is an internal tool that most companies use. Unfortunately, executives today are not looking to stare at spreadsheets. They want the information that firms are able to amass to be communicated concisely and clearly in a medium they can understand. Thankfully for analysts and IT professionals, financial dashboards offer them a complete and comprehensive solution.

A properly constructed financial dashboard will source the hours of work placed in data collection and correlation and accurately display them in a user friendly medium. This allows firms to do the work necessary in order to create accurate information and still display it in a comprehensible format to the end user. Few dashboard solutions excel at this like Dundas.

Dundas dashboard solutions are comprehensive and available for multiple mediums. Whether you are looking to deliver reporting directly to the end user or are looking for online/mobile delivery Dundas tools can do it all. Best of all this award winning dashboard technology is user friendly. Having already spent endless hours amassing information, transitioning to an understandable dashboard should be a simple task. Satori not only understands this need but delivers on it.

With a wide variety of layouts, schematics and visualization tools these financial dashboards provide you with the ability to easily communicate any information provided. While the Dundas tools seem to be daunting in depth they are actually extremely user friendly. If you get stuck or really want to know how to make these tools work to their top efficiency we at Satori have staff experts available to walk you through the process and assist you every step of the way.

So if your firm is looking for a new and effective way to easily convey in depth financial analysis, financial dashboards are without a doubt the solution. Satori and Dundas can walk your firm through the process from start to finish and assist your firm in delivering attractive and appealing packages to your business users, giving you a distinct edge over your competition.

Making Sense of the Past, Present, and Future

In 2010, David Libesman – CEO & Chief Product Enthusiast of Satori Group, toured the country presenting to Deltek Vision user groups about using technology and best practices to better tie information together in order to quickly understand the past, control the present, and model an accurate forecast of the future.  It is not really a new concept, but it is one that people have worked to perfect over the years as depicted by this 1950’s video created by IBM. 

If you would like to have David present to a group you are part of, please contact the Satori marketing team at marketing@satorigroupinc.com or at 610.862.6328.

If you would like to learn more about how Satori can help your organization make sense of the large amount of data you have in your “memory banks,” contact our sales team here…