Why every business needs a dashboard
EPISODE 101
Notes
In today's fast-paced business world, having a clear understanding of your company's performance is essential. A business dashboard is a powerful data visualisation tool that displays key performance indicators (KPIs), metrics, and other relevant information in a visual format. I think they can be so beneficial to a business, which is why we’re diving into them in today’s episode. I’ll share the benefits of having a business dashboard, the metrics to consider, and how to design one.
The benefits of having a business dashboard:
By providing visual representations of key metrics they make it easier to quickly understand complex information. With real-time data updates, we can stay on track, identify areas for improvement, and respond confidently to changing situations. Having all your data in one place saves the time and effort you would spend collecting it, and ensures your team members are working off the same information.
Choosing metrics for your Dashboard:
When designing a dashboard, it's important to focus on metrics that are relevant to your business.
Unnecessary data will muddy the water and make it difficult to understand the health and performance of your business. It can be hard to figure out what to include, but don’t worry! I’ll take you through all of your options and share a practical example within my business.
How to set up a Dashboard:
Setting up a business dashboard would be hugely beneficial for any business, but that process and the end product are going to differ greatly. There are multiple approaches to designing a dashboard, and the appropriate one for your business will depend on your business needs, your budget, and your team's capacity to update the dashboard. I’ll layout these options so you know where to look, whether you want to invest in some software, use something you already have, or take a DIY approach.
A business dashboard is an invaluable tool for improving performance, efficiency, and decision-making in any business, regardless of size or industry. So, what are you waiting for? Start designing your business dashboard today and unlock the potential for growth and success.
LINKS:
Register your interest in the Bookkeeping it Real Mentoring Program here.
About the
Author
Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.
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