QUICK GUIDE. Dashboards: Why Dashboards are Better than Data Alone. Why Dashboards are Better than Data Alone

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1 QUICK GUIDE Dashboards: Why Dashboards are Better than Data Alone 1

2 Think about the dashboards in the cockpit of a plane, or even in your car. There are vast amounts of information being generated by these machines at all times. When a plane is flying through the air, or a car is speeding down the road, it is important for the operator to have constant access to that information. Dashboards display the data in an easily digestible format so that operators can understand it quickly and react accordingly. This keeps the plane or car, as well as all its passengers, safe and on track. The idea behind business intelligence dashboards is the exact same. Your business also generates vast quantities of data constantly. You need to be able to understand the most important information to react just as quickly to in business as you would in the air or on the road. What are Business Intelligence Dashboards? Business intelligence dashboards, or simply dashboards, provide real-time access to data in a visual format, such as a gauge or meter. They can be configured to easily illustrate the condition of your shop, as well as situations that 2

3 require attention. The data can be pulled from various sources, such as your fleet management software program, ERP system or other integrated databases. 65% of the world s population are visual learners, according to the Social Science Research Network, so it makes sense that business intelligence software brings data and visual learning together in the form of a dashboard. This can help make complicated information easily accessible for people at all levels of your organization. 65% of the population are visual learners Here are 3 ways in which dashboards are better than just data on its own: Dashboards GO GET the information you need Dashboards SHOW you what is important You can SHARE Dashboards 3

4 1 Dashboards GO GET the information you need Once dashboards are set up, the data collected can be set to refresh on its own, or it can be manually refreshed. Because dashboards refresh data at regular intervals, instead of a person having to create or manually run a report, less time is spent on the actual collection of data. Standard and custom dashboards can be set up to collect the most frequently used data, which also reduces the number of reports that need to be generated. Information is dynamic rather than static. Key Performance Indicators (KPIs), such as sales or inventory levels, often need constant monitoring and dashboards offer this functionality. Since the dashboards are frequently updated, both positive and negative KPIs can be addressed in a timely manner, and more time can be spent addressing and issue rather than searching for data. KPIs can help set benchmarking for the business, and since there is less lag time in data, responses to downward trends can be swift instead of waiting on a weekly or monthly report. 4

5 2 Dashboards SHOW you what is important Dashboards quicken the decision making process by providing a snapshot of important data in a consolidated view. Less time is spent toggling back and forth between applications to create reports. Dashboards can even display a collection of different reports in a single view. With this increased visibility of trends, users can easily monitor and adjust strategy as needed in real time and then react appropriately. Notifications can also be set up for different parameters so that when something important to your role is occurring, you are alerted right away. What s the difference between a KPI and a dashboard? A KPI (key performance indicator) represents a specific data point that is useful to help understand a current situation, whereas a dashboard is the graphical representation of that data point including some qualifiers to help give the data point context. See the example on the right. KPIs vs. Dashboards Illustrated KPI = 67 Technician Part Requests Technician Part Requests The KPI gives you the specific number of open part requests, yet it doesn t tell the story. Is that number normal for your parts room or is it too much? The Dashboard helps put the number in context. In this example, preset parameters put the number 67 into the red zone, indicating that it is too many pending part requests and requires investigation. Why Dashboards are Better than Data Alone 5

6 3 You can SHARE Dashboards The downside of some reports is that they are not meant to be one size fits all. A single report may not hold a lot of meaning to people in different departments. In addition, some data may be valuable to more than one department, but it may not be easy for multiple people with different skill sets and interests to interpret. Dashboards can be built so that they can be viewed at a high level, but have the functionality to drill down deeper into data if required; each user can choose the level of detail needed for their purpose. A user is not bogged down with too much information or limited by lack of information. With dashboards, someone who may be uncomfortable sifting through the data can get access to the most important and frequently asked questions at a glance. However, dashboards can also be built to focus on the needs of the individual user. Various levels of access can be set for different dashboards and information is customizable for different job roles or access level. Communication is faster across departments and the whole organization as multiple viewers can see the same data at one time instead of passing reports around. 6

7 AssetWorks Dashboards If you are looking to quickly gather the information you need, view what is most important at a glance and more easily share information with others, then the Dashboards module can be a great data solution. With the help of Dashboards module you will be able to keep your business moving at the pace that it needs to. Why waste time and energy recreating old reports when dashboards can do the heavy lifting for you? Popular Dashboards Vehicle availability by asset category or class Open work orders by assigned shop Closed work orders by assigned shop and date range Finished work orders by assigned shop Direct to indirect labor percentage for past 30 days Work delay breakdown by assigned shop Parts to reorder by assigned parts room 7www.assetworks.com