What Are Business Analytics and What is a Business Analytics Dashboard?

Last Wednesday, I attended a seminar at Bryant University in North Smithfield, RI. To further my professional development and education in addition to my pursuing my degree, I try to attend at least two seminars or other networking events per year. This seminar was on business analytics dashboards. I read the description before registering the event and thought it would be useful to learn, but otherwise I wasn't sure what it was...

So anyone reading this who might be thinking, "what are business analytics and what does it have to with a dashboard?" I will tell you and share what I have learned.

So what are business analytics and metrics, and what do they typically consist of? In short, a business analytics dashboard is an information data resource. It involves charts, graphs, and other pertinent business or project related data all condensed and organized on one screen. What is its purpose? To help give a one shot view of all combined data and to assist with decision-making.

Here is a closer break down:

•  Product sales numbers and data (weekly, monthly, quarterly, annually, etc.)
• Project related information and data (such as project status, schedule of tasks, estimated completion dates, deadlines, milestones, etc.)
• Project risks and associated risk response plan
• Project costs, master schedule, time and materials, etc.
• Percentage of business growth
• Organizational goals (for both for-profit and non-profit organizations)

Basically any type of data that a project manager, business owner, CEO, or any other executive level position needs to see or needs to present to team members, other executives, or even customers in order to make decisions and keep track of data is a business metric.

Here are some design tips to keep in mind when creating and drafting your dashboard:

• Select an attractive color scheme and appropriate font style so it is aesthetically pleasing. 
• Avoid decorative fonts as descriptions and labels should be clear and easy to read.
• Descriptions should be clear yet concise as possible. Context is key here.
• Avoid clutter and “junk”, such as images and widgets. These just take up valuable space. Save them for your brochure or website.
• Arrange and organize data efficiently and accordingly.
• Beneficial dashboards should present both efficiencies and inefficiencies.
• Communicate and share data clearly and effectively.

When designing and drafting your dashboard, keep one thing in mind: What is the most effective way to combine and condense all the data we need to see and review for a project all on one screen? Where do you want your or your users' eyes to be drawn to first? What are your organizational or project goals that you want to stick out and be visible?

Of course, these are all just some ideas on how a dashboard can be used and how to start designing one. Dashboards can be tailored to any position, industry, or audience. Whether you are a project manager studying the schedule of tasks, project milestones, phases, and other project-related specs and information or a CFO managing and monitoring all sales, revenue, and other financial information, or a small business owner who needs to moderate all business facets including finances, projects, sales and organizational goals, and percentage of growth, a dashboard can be a huge benefit in helping teams to organize pertinent data.

Creating and designing a dashboard that is both useful and organized and aesthetically and visibly clear and pleasing is certainly a challenge. All in all, a business analytics and metrics dashboard should help organizations organize and streamline data in a helpful and even professional and presentable manner.




*Photo taken by J.H. Language Solutions, November 20th, 2013 

Written content: © 2013, 2012, 2011, 2010 J.H. Language Solutions