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Business software tools consist of CRM, Project Management, Inventory, Accounting, Reports & Dashboards to seamlessly integrate as stand-a-lone solution modules
Dashboard software is one of the information management tools which helps in visually tracking, analyzing, and displaying key performance indicators (KPIs) to organize businesses more informed in decisions making and increase productivity and the efficiency of the company’s workflows. Dashboards offer a self customizing interface which is supposed to collect real-time data from multiple sources and helps in generating in-depth knowledge in the shape of charts, tables, gauges, and timelines.
Having a centralized dashboard tool makes everybody stay in the loop on the latest data and insights. It makes data analysis quick and thorough, allowing single departments and the company as a whole to make informed decisions backed by data analytics from the company on the given subject.
A well-calibrated and organized dashboard puts everyone on the same page to collectively strategize and make efforts to achieve business goals, instead of working in individual groups. This helps in improving collaboration and connectivity inside the team and coordinates them to work quicker and more effectively.
With the dashboard at the disposal, the user will get to know exactly what’s going on in the business in real-time. The user knows about what’s working and what’s not working. User dashboard could show precisely how the last email blast to the customers went. How many people opened the email? How the sales has imp[roved after that? Such replies should automatically get stated on the dashboard. Compare most business owners who have to log in to the email system, or ask someone else to do it.
How much time do the company or the staff spend collecting data and creating reports in Excel or some spreadsheet programs? Any description that the user creates more than once should go in the dashboard. And once in the panel, the report can be programmed to get updated every hour.
The fact is that when the user sees the critical metrics in the dashboard, user intuitively starts improving the results. To this end, the best panels automatically show success indicators, such as a green arrow facing up when you’re doing well and a red arrow facing down when the user is not. When users see the red arrows, the user naturally wants to fix those areas, so they become green. And this leads to sales and profits increase as an output.
It helps in creating a comfortable, workable environment, providing information exactly how the business is performing, and exactly which areas require improvement.
Dashboards provide the user to measure performance numerically. The customer service manager can see metrics like the return rate, the average speed of answering phone calls, etc. and can watch performance numerically. If the markers show red, then it will help naturally for those to understand that they have to work harder to improve the performance and results.
The dashboard tells the user correctly which areas of the business are performing poorly. Users get to know exactly where to focus the time to increase results by getting to know the precise working in the industry to increase sales and profits.
Data source integrations: Integrate and coordinate various data sources, applications, and platforms for analysis and dashboard preparation.
KPI monitoring: Track and monitor the status of KPIs that are key to business success.
Single page view: Display increased data points on one page for a bird’s eye view assessment.
Data visualization: Representation of data in the form of charts and graphs is more representative.
Private dashboards: Share dashboard screens within private user groups.
The products available in the market are priced on a per-user, per-month basis and can be divided into three pricing tiers based on their starting price. A premium product which is rated higher includes critical features like single sign-on (SSO), automated data refreshes, live chat support, and HIPAA compliance.
Choose the right type of dashboard software: There are three types of dashboards available in the market—operational, strategic, and analytical. Before going for any purchases, buyers should check out what key features they need and how many users will require access to the software. After that, shortlist relevant products based on feature needs.
Should support customization and integration: The software should support customization—from simple end-user configurations to cascading style sheets (CSS) and full scripting. This will allow the user to customize their dashboard and data in the way the user wants to view it.
Depth of data visualization: Data visualization is a critical dashboard functionality that instils life into analysis and reports. Be sure that the dashboard tool user choose helps to generate charts and graphs as per business needs. Check the flexibility offered in presentation options and visualization tools. It is recommended that a free trial or a demo evaluate the visual capabilities of the instrument.
Give preference to mobile dashboards: Mobile dashboards are gaining traction. They let user view, analyze, and interact with data on the go. This becomes essential, especially if the user is working with teams or stakeholders that work remotely.
Artificial intelligence (AI) and machine learning: Present dashboards are good at analyzing past data and generating insights from it, but they cannot predict future trends. Many dashboard software vendors are planning to take AI and machine learning capabilities to their solutions, which will allow buyers to not only analyze data but also predict future trends. AI-enabled dashboards will analyze vast volumes of existing data and pull up points of interest and identify patterns in the raw data.
The global dashboard software market will continue to grow: A high adoption rate of cloud-based solutions and existing key market players will fuel the growth of the market.