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business reporting

4 Questions Every Dashboard Should Answer

Any small business leader wanting to implement a dashboard can find dozens of examples via a simple Google search. While many of these dashboards may be gorgeous representations of data with fancy looking charts like gauges, when I look at them it is not clear to me what conclusions I should draw from them. If I am a leader of a business then I want to know how the business is doing and what we need to do to get better. My philosophy is that standard periodic business reports should tell a story about the business. This means knowing not only the “what” but the “why” and the “how” as well.

Define Your Business KPIs In 4 Steps

Small and large businesses today receive large amounts of data. From their sales transactions, site traffic, call center activity, and dozens of other sources, modern businesses have more data at their disposal to make educated decisions. However, the volume of data can make it difficult for leaders to define the critically important handful of metrics, or KPIs, that truly determine success for a business.

Do Your Periodic Reports Answer ‘Why’, Or Just ‘What’?

Business leaders may receive dozens of regular periodic reports each day/week/month/quarter. Whether it is financial, marketing, merchandising, operations or any other activity, reports are relied upon to help leaders understand what is going on in their business. But often I find that these periodic reports fail to provide the information and context that leaders really need to make decisions. They answer the question of what happened, but they tend to ignore the equally important question of why did it happen. You may see that revenues are down. Okay…but why?

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