Why are people investing so much in Business Intelligence? Because you can no longer make decisions based on assumptions. Your decision-making and strategy should always depend on facts, data, research, and analysis.
Having loads of data is of no use unless you have a way to analyze them. You should be able to check your KPIs (Key Performance Indicators) and other data in real-time.
This is where Business Intelligence Dashboards like VARStreet come in.
- What is a Business Intelligence Dashboard and why do you need one?
- Benefits of BI Dashboard
- Why use VARStreet?
What is a Business Intelligence Dashboard and why do you need one?
A Business Intelligence Dashboard is a visualization tool that lets you track, analyze and report the data related to your business. The data can be KPIs (Key Performance Indicators) and other metrics, data points for your company, department, team, and business processes.
A BI dashboard is also an information management tool because it allows you to visualize data in the form of charts, graphs, maps, tables, and other formats. You can gather data from different sources and analyze them. You can better collaborate with your stakeholders by sharing any information with them.
Benefits of BI Dashboard
View all data in one place
BI dashboards connect to various sources like data warehouses, data marts, data lakes, operating systems, and external data feeds. It gathers the KPIs, performance metrics, statistics, and other data which you can view on one single screen. You can visualize this information in various forms from the basic line charts to elaborate graphs like scatter plots.
Many BI software solutions allow you to integrate with your other existing business tools. For example, if you want to follow up with a customer on their abandoned shopping cart, you don’t have to log in to your CRM (Customer Relationship Management) application. Your BI dashboard has CRM in it and you can view and interact with the same data on your dashboard itself.
Get real-time updates
The biggest benefit of a BI is that you can view various data and metrics in real-time. Not only that, you have access to their history as well. Instead of going through various databases manually, you can collect and compile the relevant data into various graphs, charts, and interactive reports. You can visualize every step of a business process, gather insights and predict outcomes in a few clicks.
Take critical decisions
Having access to real-time and accurate data at your fingertips eliminates guesswork and assumptions. You can take critical business decisions based on the insights gathered from the reports.
BI dashboards are used not just by business owners but salespersons, managers, and any other employee who helps run the business. Equipped with accurate data and reports, they make informed decisions on both operational and strategic levels.
For example, someone in the purchasing department needs to know details like how many purchase orders are created, which product category is giving better margins, etc. They can make decisions about the manufacturers and the quantities based on these insights.
Identify trends and track sales
Keeping track of sales when you have hundreds of products becomes challenging. In the dashboard, you can track how many new products are added, old products are discontinued, which category is making more sales, etc. You can manage your product backlog as well.
Dashboards help identify trends by tracking your customer behavior like the number of new customers you acquired, what products they are interested in, what products they are buying, shopping cart statuses, etc. You can take decisions that improve their shopping experience.
You can easily share the reports with your colleagues, managers, clients, investors, and other relevant stakeholders. As BI dashboards are interactive, you don’t need to spend your time sending multiple emails. This enhances communication.
Real-time data increases your accuracy and efficiency in your planning, analysis, and reporting. The centralized data system saves time as you don’t have to spend time generating reports from different systems. Also, most BI tools allow you to view your dashboards through mobile devices mankind them portable and 24/7 accessible.
Why use VARStreet?
VARStreet is the business management software that automates business processes like CRM, sales quoting, procurement, etc. It also provides eCommerce solutions for B2B, B2G, and B2C. It is one of the best options for IT and office supply VARs. It can be leveraged by system integrators, solution providers, IT manufacturers, distributors, and other channel partners.
With VARStreet, you can either copy an existing dashboard template or create a customized one to suit your needs. It also allows you to have multiple dashboards so that you can create different dashboards for different business operations. You can choose any one of them as the default and view it first when you log in.
VARStreet has a rich library of various widgets like a grid, bar, line, bar & line, donut, pie, funnel, and many others. You can even move the widgets from one dashboard to another. If you are not able to find one as per your needs, you can create custom widgets on the data warehouse’s available data points. It comes in handy when you want to view data from all sources and in real-time.
Get data from multiple sources
VARStreet has a proprietary ETL (Extract, Transform and Load) process. It assimilates data from various sources, and transforms and loads it into the warehouse system. Dashboard collates all the data from various business processes and displays it in one single place. You can decide what kind of data you want to see and monitor the processes end-to-end.
Filter and group data
If you want to view only certain data on your dashboard or any widget, you can filter various parameters to narrow down your results. You can group the data by salesperson, customers, sales, store, status for quotes and cart, and so on. You can view the sales quotes sent in a month, check which product category is giving better margins, track your new customers’ buying behavior, and so on.
VARStreet allows you to share a dashboard with all users or selected users. This is a useful feature when you want to share confidential information with only authorized employees. You can make the dashboard private or public. You can share a report from the dashboard by converting it into PDF format to print or send through email.
No matter how many widgets you have, they all update every 5 minutes so that you have access to real-time data. The warehouse system is the central repository that is accessible for the dashboards and is used for analysis and reporting. It is maintained separately from the operational database which refreshes every 10 minutes and updates in the data warehouse. Thus, you get real-time data insights in the dashboard.
A Business Intelligence dashboard is an integral part of any business. It is a must if you own or run a business. Which one to get? VARStreet. Because with this tool, you can get real-time visibility and user-defined BI dashboards.
Now that you know how easy it is to create a dashboard in VARStreet, why don’t you give it a try?