BI Dashboards – A Management Tool?

Most organizations follow a 3-level management structure. Top Level, Middle Level, and the Operational level. Every level comes with its own set of objectives and responsibilities. They measure performance and assess organizational growth based on certain key performance indicators (KPIs) along with objectives and key results (OKRs). To view these KPIs and OKRs, nowadays organizations are leveraging BI dashboards. Lotus Analytics, in discussion with some of its clients leveraging its BI solution brought in some insights on how organizations have been able to analyze, understand and come up with a successful solution to issues that if not mitigated would have led to an even bigger problem leading to loss of resources and revenue, hampering the growth of the organization. In its true sense, the dashboards have been the best management tool.

Dashboards can be classified as strategic, analytical, and operational. Strategic dashboards are often used by top-level management to identify risks and trends, which are used to align strategies and goals. These help with performance and forecasts on a monthly, quarterly, and yearly basis. Analytical dashboards help drill down data to even lower levels bringing in granularity. These are used by middle-level management to analyze, identify, and predict outcomes along with establishing targets. Operational dashboards are more aligned to day-to-day activities providing information to take immediate action and are real-time. These dashboards help increase efficiency and productivity within organizations and are prevalent across departments organization-wide.

Every level with its specific dashboard type comes with permissions and conditions, ensuring KPIs and OKRs are set up accordingly and are adhered for organizational growth. These dashboards are specific to individuals or positions so that they see only what matters as per their key responsibilities. We often see that there are certain teams within organizations that have difficulty understanding or setting what KPIs matter to them. This is when data teams come in probing and guiding with insights relevant.

Lotus Analytics, with its years of expertise and having consulted 1000s of teams today has been successfully building ready-to-use dashboards which can also be customized and do not require millions of dollars, any technical setup, or any resource addition. An end-to-end solution to your analytics needs transforming into management tools.

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