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Why Small Businesses Need A Business Intelligence Dashboard

Why Small Businesses Need A Business Intelligence Dashboard

 

As a small business owner you would certainly know the importance of collecting and analyzing data pertaining to your business and transactions. Business Intelligence dashboards allow not only experts but you also to access information generated by analysis of data through a convenient display. Anyone in the company can have access to business performance metrics which assist them to channelize their behavior and efforts to achieve better results.

Before we proceed to learn more about the benefits of business intelligence dashboards, let us first know what essentially is a business intelligence dashboard?

A BI dashboard is a visual aid that simplifies and conveys complex information in a decipherable manner to its users. Small businesses can make use of graphs, search charts and other rich options which can be customized to a certain scenario to allow the user get a perfect preview of the sales and other variables in the business. In a nutshell, a BI dashboard reveals to a business what is driving its success or failure and where does the business stand.

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Having understood what a BI dashboard is, let us delve deeper to understand its importance for a small business:

Deeper transparency

A BI Dashboard is an ace tool for a business to see what forces are driving it at any given point of time. The owner can pinpoint what is working and what is not without having to wait for the quarterly or monthly report. How well has a particular campaign worked, what has led to its failure or success, what has been the click rate on a particular banner, how many of those who clicked converted etc.

In half the time as what will be taken by a staff person to create a report, refine it and present it to you, a Business Information Dashboard can give you the same information and also allow you to change it dynamically to suit the situation. A BI dashboard can be programmed to update automatically and provide the past reports too as reports keep building up.

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With a business intelligence dashboard, you can know certain KPIs such as speed of answering phone calls, return rate etc. which can exponentially enhance the productivity of your business.



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