Most companies implement an Analytics Cloud Application to replace traditional reports, but the real power lies in building dashboards that drive decisions, not just display data. Dashboards should tell a story and enable action.
If your dashboards only summarise information without guiding action, your teams may still rely on gut feel rather than data-driven decisions. While experience and intuition are immensely valuable, combining them with real-time, data-backed evidence leads to more confident and strategic decisions.
How do you design a dashboard that drives action?
- Show KPIs that matter – Focus on Key Performance Indicators that tell decision-makers when action is needed.
- Focus on Key Insights, not all data – Highlight trends, anomalies and risks that drive action. While this shift takes time, it’s crucial in today’s data-driven world. Start small with interactive dashboards, provide hands-on training, and ensure that leadership leads by example. The more data is integrated into daily decisions, the more natural and effective it becomes.
- Make it Interactive – Let users filter, drill down, and explore data instead of looking at static charts. Step away from those static presentations!
- Ensure Real-Time updates – Decision-makers need up-to-date insights, not yesterday’s or, worse, last month’s reports.
What does the new way of reporting look like?
Gone are the days when you had to wait for the team to download cash flow reports monthly, manually identifying overdue invoices and upcoming payments before acting.
A live, dynamic dashboard predicting future cash shortfalls based on real-time bank balances, expected cashflows and due payments, thereby alerting decision-makers to take action like delaying non-essential expenses or prioritising collections.
As a key takeaway, start simple. Focus on exceptions, trends and Key Performance Indicators. Make it practical for your business or even your department. Focus on what matters most.
Each of your actions will help your organisation move from reactive reporting to proactive decision-making, and before you know it, you will be well on your way to embracing AI.
Next week, we’ll cover how to bring leadership, decision-makers, and operational teams along on this data journey.
