what it is and why you should use it.
Posted by Victor Brugman on August, 20th, 2021
4 Min. Read
Do you rely completely on your gut feeling when making decisions? Or does data also play an important role? Research shows that more than half of companies rely on five or more data sources for decision-making.
In short, data is playing an increasingly important role. But an overload of data sources can cause confusion, especially if you're not a data analyst yourself.
Therefore it's important to have a clear overview, where you can compare all different data sources.
Does your company have many sources of data (e.g. Google Analytics, Excel or Facebook), and make information out of it through making old-fashioned reports or maybe no one is doing something at all with data? Then you have come to the right place with this article.
In this article we explain what dashboarding exactly means and what the advantages and disadvantages are of using it.
What are data dashboards?
Within Sub.Link we are a fan of visualizing data in a clear dashboard. You can use a dashboard to monitor the overall health of your company, department or a specific process.
In such a dashboard you can put various sources that are important to you or your company. Think of social media channels, Google Analytics and your sales data. You probably know best which ones are important to your organization.
With these sources you can often measure what, for example, the number of likes is, how many people click through on a link, at what time people are active on this channel, where they come from and so on.
Be sure to set targets, so you always know whether your company is on schedule or maybe not at all.
Dashboards vs Reports
Why can't I just share a report every so often? That's just the latest numbers, right? The difference lies in the shift in perspective from periodic reporting (such as monthly or yearly) to continuous monitoring (such as daily or even real-time). What makes dashboards and reports so valuable is how you and your team use them to your advantage.
Why you should (or shouldn't) get started with dashboarding?
Do you want to substantiate more assumptions with data within your organization? Then you might be ready to get started with a dashboard.
We will list the pros and cons of data dashboards for you.
• Save time - Get insight into the most important things at a glance
• Data is simplified - You don't have to be a data analyst to understand it
• Improved Forecasting - Know what's happening and use the data to make more accurate predictions about what's to come
• Improved decision-making – Use data to see where customers might get stuck, which channel can be used better, for example, which text is more successful and so on. The possibilities are endless
• Substantiate assumptions with data, because the numbers don't lie
• Cloud Accessibility - Share your dashboard with everyone, so everyone in the company stays up-to-date with the latest numbers and doesn't have to ask for it anymore
• Increased profitability - Look through the dashboard for which channels are doing well or badly and start optimizing there
• It increases engagement - Showing various metrics can inspire employees to think about how to improve results
• Reduced stress - Less stress by no longer having to constantly search for the right information between all those data sources
• Creating a dashboard requires some (technical) knowledge for good use - This leads to careless mistakes that can be made by people who have no experience with building dashboards. This may lead to incorrect figures showing on your dashboard.
• Setting up a dashboard takes quite some time - Not familiar with dashboarding? Then it will take you quite some time to set it up
• Slow performance and in some cases not able to handle larger data sets - This can, of course, be solved by using multiple dashboards, which is especially useful with large amounts of data.
If you lack overview and structure in your organization, it is not a bad idea to start thinking about dashboarding. This way of data visualization makes a world of difference in how you make decisions within your organization. Gain insight into the most important matters at a glance, while the data is presented in a simplified manner. This means you don't have to be a data analyst to understand it.
Do you no longer feel like the unnecessary stress of constantly having to search for the right information between all those data sources? Put it in a dashboard. Or better yet: Let us put it in a nice clear dashboard for you.
Curious about what else Sub.Link has to offer? Feel free to check out our website at: https://sub.link