A KPI dashboard can tell the story of an area in your company.
Note: KPI dashboards and scorecards can often be confused with one another. (This article further explains the differences between the two.)
A typical KPI dashboard template has between five and 15 charts on it relating to a particular subject. For example’s sake, we’ll focus on “safety.” The safety dashboard might live on a factory floor and show the number of days since the company last had an incident. Of the KPI dashboard examples above, the charts for the safety dashboard might include:
The key to creating a stellar KPI dashboard is to tell the story as clearly as possible. Also:
Beyond establishing a KPI dashboard definition, you need to understand the type of dashboard you’re building. Is it a dashboard to share information or drive behavior?
Secondly, you need to determine the audience for the dashboard. Your KPIs should be tailored to what’s relevant for that audience.
Excel is a great tool, and we recommend using it for standalone projects or as a place to experiment when your organization is just starting to build its strategic reports. But once you know what you want to measure and need to report on repeated basis (monthly or quarterly) with a solid management reporting process in place, Excel can present some serious challenges.
You’ll know you’ve outgrown Excel when these issues become nightmares:
These are just the top five challenges we’ve seen customers face with Excel. You can read more in this article.
While Excel can be good or bad depending on your organization’s stage of growth, know that you always have options. ClearPoint’s strategic planning and reporting software gives you a powerful alternative when you need a repeatable process, automated tools, and real-time data. Some of the top benefits of using ClearPoint for your reporting and KPI dashboards include:
Remember, dashboards can be very beneficial for your organization. Define your dashboard’s purpose and audience, pick the KPIs, and create a story that helps drive the intended behavior in your organization at a budget that makes sense for you.
If you’ve outgrown Excel or are in need of a more robust solution for your KPI dashboards, consider ClearPoint. Our strategy software will save you time, eliminate errors, and consolidate all reporting efforts within a single system. See it live to better understand how ClearPoint can work for you.
Ted is a Founder and Managing Partner of ClearPoint Strategy and leads the sales and marketing teams.