Business Dashboard Examples for Improved Decision Making

Business dashboards visually display key performance metrics to help organizations track progress and make data-driven decisions. It also helps in improving the overall operational efficiency.

This guide dives deep into what the business dashboard is, and also shows you some business dashboard examples, business intelligence dashboards, and executive dashboard examples.

Whether you’re a newbie or a veteran business owner, this guide offers more clarification on business process mapping, business overhead cost, and analytics tools for business.

A business dashboard plays a major role in business forecasting, and if you pay close attention to the right business metrics, you’ll be able to make data-driven decisions.

In this guide, you’ll be introduced to concepts like business analytics and digital dashboards. The sales dashboard examples displayed in the guide will help you have a good grasp of business graphs and chart examples.

What is a Business Dashboard?

Definition: A business dashboard is a data visualization tool that aggregates and displays key performance indicators (KPIs), data points, and metrics in an interactive and easily accessible format.

It offers real-time insights and helps businesses monitor performance, identify trends, and make informed decisions.

Top 5 Charts for Business Dashboard Using Power BI

Here are the charts you can create using ChartExpo.

Multi-Axis Line Chart:

Likert Scale Chart:

Sankey Diagram:

Comparison Bar Chart:

Stacked Waterfall Chart:

Why is the Small Business Dashboard Important?

• Real-Time Data Tracking: Dashboards provide small business owners with up-to-the-minute data on customer behavior, sales, inventory, and other vital metrics. This real-time access gives room for timely decisions and adjustments, and that helps in maximizing opportunities and preventing potential issues.
• Improved Decision-Making: With visualizations like graphs, charts, and tables, dashboards turn complex data into easily digestible insights. It helps small business owners make data-driven decisions on budgeting, marketing, staffing, and other vital aspects of the business.
• Centralized Information: Instead of manually gathering data from multiple sources, a business dashboard centralizes all key performance indicators (KPIs) in one place. This simplifies data management and ensures that business leaders have a holistic view of operations.
• Increased Efficiency: By automating reporting and data collection, dashboards reduce the need for manual analysis and also save time and resources. This way, small business owners will spend less time compiling reports and direct their focus to strategy and growth.
• Performance Monitoring: Dashboards enable business owners to track their progress toward KPIs and goals. A dashboard helps businesses keep a close eye on their revenue targets, operational efficiency, and customer acquisition. This way, business owners will be able to make adjustments when necessary.

What are the Different Types of Business Dashboards?

• Strategic Dashboards: Strategic dashboards provide a high-level overview of a business’s long-term performance and goals. These dashboards focus on the day-to-day metrics and allow businesses to monitor KPIs, track performance, and quickly identify any issues that require immediate action.
• Tactical Dashboards: Tactical dashboards are designed to track medium-term goals and performance. It’s usually for specific teams or departments. These dashboards are used to monitor progress on marketing campaigns, projects, or departmental objectives.
• Operational Dashboards: Operational dashboards offer real-time data about the operations and ongoing activities within a business. These dashboards focus on day-to-day metrics and allow firms to monitor KPIs, track performance, and identify any issues that require immediate action. Common metrics could be customer support tickets, sales figures, or inventory levels.
• Analytical Dashboards: Analytical dashboards dive deep into historical data, and that helps businesses identify patterns, trends, and insights. These dashboards usually involve advanced data analysis, like data mining and predictive analytics. All these support decision-making. They’re designed for data scientists or business analysts who need to conduct in-depth analyses of the company data and draw actionable insights.

How to Use and Analyse a Business Dashboard in Power BI?

• Stage 1: Log in to Power BI, enter your email, and click the “Submit” button.

• You’ll be redirected to a Microsoft account. Enter your password and click “Sign in.”

• You can opt to stay signed in.

• Stage 2: Create a Data Set and Select the Data Set to Use in the Sankey Chart.
• Navigate to the left-side menu and click on the “Create” option. At this point, select “Paste or manually enter data.”

• The following procurement budgeting data will be used for this illustration.

• Paste the data table above into the “Power Query” window. After that, select the “Create a dataset only” option.

• Navigate to the left-side menu and click on the “Data Hub” option. Power BI will populate the data set list. If no data set has been created, you’ll get an error message.

• Choose the data set you want to use in the creation of your Sankey diagram. Power BI will populate your screen similar to the image below.

• Click on the “Create a report” dropdown. Next, select “Start from scratch.”

• A Report Canvas screen appears on your screen.

• Stage 3: Add the Power BI Sankey Diagram Extension by ChartExpo
• To create the Sankey Diagram, you’ll need to use an add-in or Power BI visual from AppSource. Navigate to the right side of the Power BI dashboard and open the Power BI Visualizations panel.
• Click the ellipsis symbol (…) to import the Power BI Sankey Diagram extension by CharExpo.

• In the following menu that opens, select the “Get more visuals” option.
• Enter “Sankey Diagram for Power BI by ChartExpo” in the highlighted search box. You’ll see the “Sankey Diagram for Power BI by ChartExpo.”

• Click the highlighted “Add” button.

• Power BI adds the “Sankey Diagram for Power BI by ChartExpo” icon in the visualization panel.

• Stage 4: Draw a Sankey Diagram with ChartExpo’s Power BI extension.
• Select the “Sankey Diagram for Power BI by ChartExpo” icon in the visualization panel. A window similar to the one below opens in the report section of your dashboard.

• There’s the option to resize the visual. Navigate to the right side of the Power BI dashboard. You’ll see “Fields” next to “Visualizations.”

• You’ll have to select the fields to use in the Sankey chart. To select the fields, follow the sequence below:
• Total Cost
• Company Type
• Company Name
• Expertise Categories
• Expertise
• Cost

• You’ll have to provide your email address or a ChartExpo license key.

• Stage 5: Activate the ChartExpo Trial or Apply a Subscription Key.
• Select the ChartExpo visual. You’ll see three icons below “Build Visual” in the Visualizations panel.

• Select the middle icon, “Format visual.” The visual properties will be populated as shown below.

• To begin using ChartExpo, you’ll have to enter your email address in the textbox under the “Trial Mode” section. Provide an up-to-date email address, and toggle “Enable Trial” to activate the 7-day trial.

• The Sankey Diagram created with the 7-day trial comes with the ChartExpo watermark. If you have a license key, enter it in the “ChartExpo License Key” textbox in the “License Settings” section. Slide the toggle switch next to “Enable License” to “On.”

• The Sankey Chart will be displayed on your screen. Here’s how to add the header text on top of the chart.

• There’s the option to change the font style of the text for better visibility. You can also add the colors of the Nodes.

• Here’s the final visualization of the Sankey Chart.

Insights:

The chart shows costs by company type, with suppliers focusing on raw materials and subcontractors on mechanical installation. Onyx incurs the highest subcontractor costs, while Power-up Builders leads supplier expenses, especially for steel. Plumbing tops subcontractor expertise.

Tips for the Best Business Dashboard Design

• Prioritize Key Metrics: The dashboard is designed to highlight the most important metrics in prominent areas or at the top. KPIs like sales performance, revenue, conversion rates, or customer acquisition should be placed where they’re visible to the user.
• Keep It Simple: A good dashboard should clearly showcase key metrics. Avoid overwhelming your audience with too much data. Focus on showcasing vital KPIs that align with the business goals. Also, use simple, easy-to-read visuals like line graphs, bar charts, and pie charts.
• Use Data Visualization Effectively: Choose the right visual representation for the data being displayed. For instance, use bar charts for comparing values, line charts for trends over time, and pie charts for parts-to-whole relationships. Visualization helps users grasp complex data.
• Ensure Mobile Compatibility: Since a significant number of users access dashboards on mobile devices, your dashboard should be mobile-friendly. It has to come with a responsive design that adjusts to different screen sizes without losing functionality.

FAQs

What should be on a company dashboard?

A company dashboard should display key performance indicators (KPIs) like revenue, sales, customer satisfaction, expenses, employee performance, and inventory. It offers real-time insights for informed decision-making and business growth.

What is a business dashboard used for?

A business dashboard is used to monitor and visualize key performance indicators (KPIs), analyze trends, track progress, and make data-driven decisions. This will, in turn, help businesses improve efficiency and achieve strategic goals.

Wrap Up

A business dashboard is a data visualization tool that tracks key performance indicators (KPIs).

To get the most out of your business dashboard design, you have to keep it simple and maintain a consistent design. A good dashboard should clearly showcase key metrics. You should also avoid overwhelming users with tons of data. KPIs displayed on the dashboard should align with the business goals.

When it comes to the dashboard design, use consistent color schemes, layouts, and fonts throughout the dashboard. This helps users to easily navigate the dashboard and improves the overall user experience.

Now you’ve seen some business dashboard examples, what key metrics will you incorporate into your business dashboard design?