How to create an executive dashboard
If you are an executive in a company, the owner of a company or even the manager of an office or the branch of a company, and you want to know how you can improve your productivity and help improve the company, then you need to know how to create an executive dashboard.
Let's start by discussing what an executive dashboard actually is.An executive dashboard harks back to what was called the Executive Information System in the 80s.Executive Information Systems, and their web-based descendant, the executive dashboard, try to do the same thing for you as the executive.These different programs are giving you as the executive all of the important information that you need to know to make well informed and well based decisions about your company in order to improve your business' performance and productivity.
An executive dashboard initially sounds like it's just for the executives in your company-those upper level decision makers.However, an executive dashboard is more and more frequently being used by all members of a company. Executive dashboards aren't just for the CFO-instead, managers need executive dashboards so that they can quickly make decisions based on moves in the market instead of waiting around for the CFO to get back from lunch so that he or she can examine the data and make a decision...after the opportunity has passed.The faster you can make decisions, the more efficient and the more successful your business will be in this increasingly faster paced business world that we live in.
When you are creating your executive dashboard, you need to remember the following important things about executive dashboards.The first thing to remember is what exactly an executive dashboard does.First of all, an executive dashboard will give fundamental answers about your business.It will answer questions that deal with finance, with operations, and with other things.The executive dashboard should allow you to know how each salesperson did each month, what the number of sick call-ins are from employees, and should allow you to track what's going on in each of your warehouses, offices, branches, etc.
Second, your executive dashboard should be automatically able to alert you if there is a problem in your production, in your sales, in your revenue, etc.You should be able to define what a problem is, when something drops below a certain level, or something along those lines.It depends on what your business is and what you are looking for.Your alerts will also depend on what your role in the business is.
Third, your executive dashboard will help you make important decisions that will impact your business.Usually, important decisions are not made based on one single set of figures or data from only one source.You need a lot of information at your fingertips so that you can decide if you need to close a particular branch, or if it would be better to open another one.
When you create your executive dashboard, you are essentially creating a website just for your company and for people within your company.It would probably be best to hire an information architect who can gather all of the vital information from different peopole in your company and come up with the best way to display information and to analyze that information.You are not going to be able to create an executive dashboard all by yourself, but you can aid the process by being open about the operations of your company and thinking creatively about how best to collect and disseminate information about your company's structure and where you want your company to go.