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Performance Dashboards

9 Benefits

1. Communicate Strategy
   Performance dashboards translate corporate strategy into metrics and goals that are customized for each team working the process. Managers log into their performance dashboard and get a clear picture of the strategic objectives and the level they are at in achieving these goals.
   
   
2. Refine Strategy
   Executives use performance dashboards to fine tune corporate strategy as they go along. Instead of veering off course one direction or another in response to industry events or internal pressures, executives can use performance dashboards to make a series of minor course corrections along the way.
   
   
3. Increase Insight
   Performance dashboards give executives and managers greater insight into operations and forecasts by collecting relevant data in a timely fashion. This helps avoid being surprised by unforeseen problems that might affect bottom-line results.
   
   
4. Increase Coordination
   Exposure of performance dashboards encourage different departments to work more closely together, encouraging staff and manager to engage in robust dialogue about performance results and forecasts. It also makes it easier for managers to conduct more frequent and constructive performance reviews.
   
   
5. Increase Momentum
   Experienced business managers know “what gets measured, gets done.” By publicizing performance measures and results, dashboards increase the motivation to excel in the areas being measured. Performance dashboards encourage people to work harder out of pride and the desire to make extra pay when compensation is tied to performance results.
   
   
6. Give a Consistent View of the Business
   Performance dashboards consolidate and integrate corporate information using common definitions, metrics and rules. This creates a single version of the of business information that everyone in the organization uses, avoiding conflicts among managers and analysts about whose version of the data is correct.
   
   
7. Reduce Costs and Redundancy
   By consolidation and standardizing information, performance dashboards eliminate the need for redundant silos of information that undermine a single version of business information. A single performance dashboard can help an organization shut down multiple independent reporting systems, spread marts, data marts and warehouses.
   
   
8. Empower Users
   Performance dashboards empower users by giving them self-service access to information and elimination of their reliance on the IT department to create custom reports. Through layered delivery of information, structured navigation paths, and guided analysis, performance dashboards make it easy for business managers to access, analyze and act on information.
   
   
9. Deliver Actionable Information
   Performance dashboards provide actionable information – data delivered in a timely fashion that lets users take action to fix a problem, help a customer, or capitalize on a new opportunity. A performance dashboard prevents users from wasting hours or days searching for the right information or report.

Benefits In Summary

Performance dashboards deliver information to the right users at the right time to optimize decisions, enhance efficiency and accelerate bottom line results.