What is an Analytics Dashboard? Its Benefits and Needs?

Meaning of Analytics Dashboard

An analytics dashboard is a highly visual display of business data performance at a glance to help data analysts and other professionals make informed decisions. With relevant business information presented comprehensively in form of statistics and visuals, it is easier for executives to take decisions in real-time.

Dashboards typically have static layouts of tiled widgets that each store a representation of a single piece of data in a simple structure like a graph or chart. Real-time data monitoring is now possible with interactive capabilities added to modern analytics dashboards.

Benefits of Analytics Dashboards

Analytics dashboards drive a significantly-positive impact on a business’s success and growth. Let’s take a look at the benefits hosted by the analytics dashboard:

Visualizes data for a better understanding of customer needs.

Provides a 360° overview of your customers.

Identifies and prevents potential threats/risks.

Customized solutions to cater to your business needs.

Reports, analyses, and presents data in real-time.

Enables cloud-driven analytics for instant deployment and universal accessibility.

Key Analytics Dashboards for Your Business

At Polestar Solutions, our analytics experts will help you create as many custom dashboards as you need for your business. With that said, we have listed 7 key dashboards that many businesses find extremely useful:

Marketing Dashboard: Utilize information on traffic, signups, and sales to evaluate the success of marketing campaign performance.

Uptime Dashboard: Gauge the percentage over time to see how close you are to 100% uptime and when downtime is most likely to happen.

Spend Dashboard: How much does it cost to acquire customers? What is a decent return on investment for a marketing campaign? These kinds of questions can have answers provided by a spend dashboard.

Traffic Dashboard: The traffic dashboard allows you to track site-wide traffic as well as visitor data for important web pages.

Growth Dashboard: Revenue, traffic, accounts – The growth dashboard monitors KPIs linked to your business growth and looks after revenue, traffic, and accounts.

Product Dashboard: Engagement rate and MAU - this product usage assist in direct development.

Revenue Dashboard: Businesses want to know the revenue they are making and how to enhance sales and profit. Data like sales and retention reports are reliable to collect relevant information.

Why do you need an Analytics Dashboard?

The challenges faced by modern businesses are universal, no matter which business sector they serve, and they are centered around the explosion of data.

As technology and digital transformation have dominated our business world, channel and device adoption have accelerated massively, and as a result, data generation has dramatically exploded. Many businesses do not have the right resources or the skills to keep pace, and as such, they have found themselves in a tough situation, wherein:

The amount and complexity of organizational data have increased, and many employees lack the necessary data literacy to generate insights from their data.

It takes a lot of time and effort to manually create and analyze reports, and human error frequently results in inaccurate insights.

There are friction points and a lack of departmental coherence caused by data silos. Executives are unable to keep track of team performance and shared business goals.

By prioritizing a set of key KPIs and removing the overwhelming, priceless data, analytics dashboards help address these organizational problems.

Read more: How To Build The Right Analytics Dashboards Design