Holding conversations with organizations of all sizes day after day, you start to see patterns when it comes to objectives. The usual suspects are growth, increased profitability, and decreased overhead. No matter what the goal or issue is, if you keep asking "why is it important?” you usually end up with one, if not several, of these objectives mentioned.
Now the realquestion is: how does an organization obtain those objectives? Some hire more staff, others double their marketing budgets, and some even go as far as cutting staff to decrease overhead. But how then do you know if any of these will work? While these may work in the short term, can you possibly consider them a permanent solution to obtaining these objectives?
My suggestion is to take a step back and look at your data, and I mean all of your data. A dashboard connects to your data and allows you to concentrate on what’s important. It allows you to look at the big picture and then drill down into specifics that are relevant. By creating a dashboard, your mind no longer needs to imagine what your data means. Rather, it allows everyone to see and interpret the information in a factual way!
When you have all the data readily available and easily understandable, you are now able to make informed decisions. You now have answers, backed by evidence from your data, as to what will help you obtain your objectives. Instead of doubling your marketing budget, you can now focus your investment on a certain marketing campaign that results in net new customers. You may also realize that a certain trait or background is yielding better performing employees, so what would you do? You hire smarter.
By cornering your business needs and figuring out what is most important to you, you're able to solve specific objectives through intelligent business practices.