Wednesday, February 26, 2020

The Dashboard to Create a Degree of Abstraction in Presentations

A well-designed dashboard is an excellent tool which is a part of a system for improving overall management effectiveness and efficiency.

A dashboard is a tool to visualize Key Performance Indicators and as such, it is certainly a great way to show the metrics of the values and the effectiveness of the organization, or the measured activity produces.

There are as many preferred items as executives can think of and their presentation preferences are equally varied. Here are a few highlights that the dashboard can create a degree abstraction in presentations to improve decision effectiveness.




Top accomplishments for strategy execution: Velocity of the strategy execution is an important parameter business can measure the execution success. A dashboard is a tool to visualize the metrics of the values and the effectiveness of strategy execution. One of the important goals of a well-designed performance dashboard is to clarify business strategy, determine KPIs, analyze if the data is available and of good quality.

A well-designed dashboard helps business management make good decisions. Decisions that affect the vitality of an organization, should be executed on the heels of history and data. A dashboard is a support decision instrument, gives instantaneous information about the organization's main drivers. An important best practice, especially for an executive dashboard, is that the essential information presented has a clear alignment to the strategy that the audience is trying to execute or manage by leveraging the dashboard.

Observed business benefits/outcomes:
Executive management always responds to data. The most effective way to make the presentation to senior management via a dashboard is to show how the data, directly and indirectly, affects productivity, performance, and profitability at strategic areas, the business benefit or outcomes. The valuation is based on financial metrics and projections for future revenues, cash flows, and income.

The financial indicators only cover part of the story. A good dashboard provides an outcome-based measurement covering all areas that contribute to value creation including service quality, employee engagement, business competency, customer satisfaction, and financial outcomes, etc, and focus on the performance of the entire organization. A good dashboard provides the management a clue of how to enforce management discipline via the insightful understanding of performance parameters so that desired business results can be achieved effectively.

Key challenges and relevant data: The effective performance dashboard with the appropriate visual design provides a brief but clear view about the most critical or pressuring management issues. A well-designed dashboard is crisp and readable while highlighting important aspects of decision/guidance from an executive management perspective. It should be brief enough to keep focusing on the most strategic business initiatives and the most crucial information for making effective decisions. Besides the essential indicators like budget or schedule, there are various preferred items as executives can think of and their presentation preferences are equally varied. The key principle is to keep the dashboard simple and practical.

An effective dashboard helps business executives set the top prioritization agenda and overcome key business challenges. For example, business sustenance and innovation are often on the top prioritization agenda, business management will challenge the cost control efforts, with the drive to bring new capabilities to the business at a fast pace, this, in turn, can force some cost control measures to lower on the priority list. The bottom line is that if the executives want to see “whatever” data, then it is “essential” that you have a system to show it to them in a format they prefer and understand so that they can make effective decisions and achieve the art of possible.

A dashboard tries to present key performance indicators in a visualized way and highlight important business aspects for decision guidance. The dashboard offers a conceived way for executives to gain a wider perspective on their strategic decisions. Visualizing actionable data is meaningless if no one can see it act upon. A well-designed dashboard is an excellent tool which is a part of a system for improving overall management effectiveness and efficiency



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