Dashboards, Scorecards and Key Performance IndicatorsDashboards, Scorecards and Key Performance Indicators are terms often used to describe the display of a set of high level measures in a graphical format. You may also come across the terms business scorecard or balanced scorecard. Business dashboard software provide users, often board members and management, with a one page graphical overview of their company's performance for a specific time period. These dashboards will normally include a number of important Key Performance Indicators (KPIs) which allow tracking of certain metrics against performance targets or their competition. A dashboard tends to be populated with graphical representations of high level data, for example; gauges, traffic lights, bullet graphs, pie charts and sparklines. You may also find the occasional table of data. However, this is normally restricted to a Top Ten metric, as tables of data take long to digest than a simple high level graphic. A number of dashboard software houses add drill down functionality to the dashboard which really comes into it's own during presentations. Should a particular metric warrant further investigation, a drill down can allow the user to delve into the low level numbers which make up the high level metric. For example, a store with a low turnover may warrant further management attention, particularly if other stores in the region have performed well. Creating dashboards requires a good eye for detail, and particularly an understand of how people interpret data. All too often, graphical gauges and traffic lights are placed on a dashboard just because they are able to. Dashboards need to be clear, concise and to the point. The aim of a dashboards and business analytics in general, is to present key information as clearly as possible, and not to distract the reader with fancy colourful graphics. A key figure in the area of dashboard design is Stephen Few, who, in his book Information Dashboard Design, discusses the failings of various dashboard designs. He goes on to present a clean and simple example of how a dashboard should be presented. There are a number of business performance software players in the dashboard arena. These include Business Objects (Xcelcius), Oracle (Hyperion), Microsoft (Proclarity/Performance Point Server), Panorama (Novaview) and Spotfire. Dashboards, Scorecards and Key Performance Indicators
|
