Every business must analyze its data in order to take strategic decisions. Yours is not an exception. Dashboards can offer many indicators to succeed. But still, you must choose to control the best axes.
Numerous aspects contribute, indeed, in your business growth, and since they are all linked, it might be difficult to focus on one point rather than another one. Planning, marketing, sales and customer relationship are probably the best poles to assess the performance of your business.
Among other things, planning is used to anticipate measurable results. A planning dashboard allows you to choose a strategic guideline to achieve your goals. Thanks to a good planning, you will also be able to follow the development of the other dashboards much better. It is a great tool for management and internal communications.
With marketing dashboards, you can assess your tactics and strategies performance, as they allow you to measure your return on investment, your customer acquisition costs, your brand awareness, a campaign’s conversion rate, etc. In addition, it is a way to position your business on the market with comparative analysis regarding the competition.
Information relating to sales is generally scattered. Using dashboards helps you to collect any data from the source, so you can have an overview of your results. Which products have the best sales? From which area come the best results? Which product does not meet the expectations? Depending on your results and priorities, you can adapt your strategy to fix the sales when they are behind or to further improve the best ones.
As you know, a product or service sale cycle doesn’t end once the sale is completed. It explains why it is so important to have means to measure your customer relationship. Every tool is good to collect data regarding the consumers’ satisfaction rate and assess their relationship with your business: phone or e-mail questions, forms, survey, focus groups, returns or refund, etc. Thus, the clients have different ways to express themselves and it allows you to understand the positive or negative impacts of the various strategic elements adopted.
In short, dashboards represent a continuous improvement tool for your business. By using them along with the key indicators you choose, you will be able to adapt your strategies according to the market and your goals.