THE BUSINESS CONTEXT. THE WHOLE STORY.
Every business runs on data. Although today, it seems more like businesses are drowning in data, wasting precious man hours and budget resources trying to sort through the troves of information for what’s relevant to their organization. As more data gets shoveled into the big data pile every day, it becomes increasingly more difficult to discern the complete context of this information.
WHERE'S THE GOOD STUFF?
It’s a process that involves looking closely at information which initially may not seem relevant, in order to provide a more accurate, personalized data set.
Data needs to be collected into a model that paints a full picture and is easily distilled into useful intelligence.
Data dashboards integrated into a web portal can help consolidate data sources and glean insights to drive better decisions.
Data needs to be correct and up-to-date. Data dashboards display data that is automatically updated. The frequency of the update can vary by organization and by purpose. The most effective dashboards have data updated at least on a daily basis.
Data must be applicable to the organization using it. Therefore, it must be easily integrated and flexible; information pertaining to the financial /accounting department can be just as useful for those in the customer support/customer account department. Interactivity such as filtering and drill-down can be used in a dashboard to display data relevant to your business needs.
Data should be tailored towards a specific purpose; if it’s not adding to that purpose, it’s unnecessary and is only muddying the water. It’s true; less is often more. That goes against the “big” of “big data,” but it’s crucial. In the race to be the biggest and baddest, it’s easy to muddy the waters with data that doesn’t fit your objectives.
Data should be tailored to to your business needs. The structure of the data, what’s collected, and, equally important, what’s not, all are based around that purpose. Data dashboards show the most important performance indicators / performance measures to be monitored.