The Benefits of Business Intelligence Dashboards

Business intelligence (BI) dashboards have become increasingly important for improving business performance and the growth of organizations. Learn about four main types of BI dashboards used in businesses.

The Benefits of Business Intelligence Dashboards

Business intelligence (BI) is a term used to describe the process of retrieving, presenting, and visualizing data. There are four main types of BI dashboards that distinguish between how business data is used and who uses it. Sales and marketing panels are widely used by corporate executives, business managers, and sales and marketing teams. A sales dashboard includes data on retail or product sales, the cost of sales operations, and other key performance indicators (KPIs), allowing users to track progress in relation to sales objectives and identify potential pain points.

Similarly, a marketing dashboard contains data on costs, response rates, lead generation, and other marketing metrics. Business intelligence dashboards are information management and data visualization solutions that are used to analyze data. Content creators can use interactive elements, such as filters and actions, to combine tables, graphs, and reports on a single screen for instant summaries. Dashboards are one of the most popular features of BI platforms because they present easily understandable data analysis, allow users to customize the information they want to see, and provide a way to share the results of the analysis with others. Project boards show data on the status and progress of business projects. In addition to compatibility with interactivity, the essential features of modern BI dashboard software include a customizable interface, dashboard templates to accelerate the design process, and the ability to obtain historical and real-time data. Dashboards are also available from dozens of other BI software providers, including specialists in panel and data visualization.

In the 1990s, panels began to become more functional and widely useful tools, driven by the emergence of BI software, data warehouses, and online analytical processing engines. The panels are also integrated into many business applications such as financial, human resources and project management software. Depending on the data that users need to see, BI panels can be connected to data warehouses, data markets and data lakes (the most common analysis data stores) or to operating systems, industrial equipment and external data sources for more up-to-date information. The products offered by these companies allow users to extract data on KPIs from operational databases, business applications, web analysis tools and other sources and send them to control panels. The only integrated business analytics platform that combines action-based dashboards, automated analysis and data storytelling.In general, the strategic panel is the best type of panel to monitor the company's strategy in terms of efficiency and budget. BI panels can also incorporate data tables that provide an overview of relevant data values. With a powerful and automated business intelligence tool, stakeholders can create dashboards to review, draw conclusions and act.

In this modern era of digital transformation and big data, business intelligence (BI) dashboards have become increasingly important for improving business performance and the growth of organizations. Some consultants recommend that BI and analysis teams adopt a methodology similar to the software development lifecycle for designing dashboards.