A KPI Dashboard is a powerful tool use to monitor the real-time update of their Key Performance Indicators. These dashboards collect data from a variety of sources to provide a clear and understandable manner. They visualize the overall progress and performance of the employees and indicate how well the company is doing in achieving its target. 

The main power of a KPI dashboard lies in its ability to present complex data from different sources in an easy and simple way. If you need an hour to get an update, the whole idea of the KPI dashboard falls apart, right? You can have a clear idea of your project or even the entire company’s development in a single glance.

Understanding the Role of KPIs

KPIs are small and measurable values that show the development and achievement rate of any pre-determined task or target. They are measurable metrics that play an important role in determining a team’s, department’s, or even individual employee’s contribution and performance. There are two most used types of KPIs:

• Operational KPIs: These KPIs are designed to focus on day-to-day tasks like customer service response time or daily sales KPI.
• Strategic KPIs: These KPIs work with the long-term goals of a business, like yearly sales growth or annual profit growth.

KPIs may seem small and insignificant targets, but the data they provide can drive your business to success.

What are the Main Features of a KPI Dashboard?

A KPI dashboard is designed to display the real-time progress of your company through various indicators. A KPI dashboard should have but not limited to the following features:

• Real-time Data Visualization: KPI dashboards show real-time data updates so that you can monitor the recent and up-to-date progress of the tasks. It allows you to respond quickly in any case.
• Customizable Metrics: The users should be able to customize the dashboard according to their priority. It will allow them to focus on what is most important.
• Interactive Elements: It is a great feature that makes the dashboard more attractive and easy to navigate. The most common interactive elements include filters or options to see KPI progress in detail.
• User-Friendly Interface: The dashboard interface must be easy to scroll through and properly organized. All the buttons and data must be in a place where every user can find it without any issues. The representation of data and KPIs has to be simple so that you can easily get an idea of the overall progress at a glimpse.

These are the most basic and common features of a good KPI dashboard. You can add some signature features to help you stand out.

What are the Types of KPI Dashboards?

KPI dashboards come in various types, each specialized to indicate different types of goals and metrics. Here are some of the most used types of KPI dashboards:

• Operational Dashboards: Designed to monitor and indicate the progress and the real-time updates of operational KPIs like daily progress activities.
• Strategic Dashboards: These dashboards show the stats of the strategic KPIs that focus on long-term goals. They align with the bigger goals of the business, like revenue growth or customer satisfaction.
• Analytical Dashboards: These dashboards are made custom for deep data analysis. The main objective of these dashboards is to explore complex information and provide overall insight. Data analysts mostly use it to help create strategic plans for the company.
• Tactical Dashboards: These dashboards are mainly used to create a bridge between operational and strategic dashboards. They focus on short to mid-time project management and help them track the progress and achievement of some specific projects.

What are the Benefits of Using KPI Dashboards?

Using KPI dashboards has long-term crucial benefits that help guide businesses in the right direction. We have prepared a break down of the benefits of using KPIs to help you understand easily.

• Improved Decision Making: When you make a critical decision for a company, you must have a clear insight into important company data. Using KPI dashboards allows you to tap into those data easily and make data-driven decisions.
• Enhanced Performance Tracking: Tracking the performance of all the employees of a company looks hard, right? But you can change the scenario using KPI dashboards. It will let you track everyone’s performance in minutes!
• Increased Transparency and Accountability: Maintaining transparency and proper accountability is impossible if you have no idea about what is going on inside. As you use the KPI dashboard, you know who is doing what and how much they have contributed. It helps you track the problems easily and establish transparent accountability for everyone.
• Simple and Easy Reporting: The simpler the reporting, the better the KPI dashboard. It lets you know the situation without going through a long and complicated process of collecting data and analyzing them. Isn’t it great? You don’t need to wait for a data analyst to calculate everything to make a decision.

How Can I Use a KPI Dashboard?

You need to get KPI software to be able to use the KPI dashboard. The dashboard is just a part of the entire software. So, are you looking for the best KPI software to track the real-time progress of your business? 

Well, there are so many options you can choose. But if you need an all-in-one software that has great features and simple reporting, PorKPI will be the best candidate. It is made for the best user experience and presentable reporting system. Want to know the best part? You don’t need to spend a fortune to buy this. But first, let’s see what features this software offers and how it can help you grow.

• You can set goals for departments, teams, individuals, and even yourself
• Your relevant superior employee will approve your own set goals
• There are no limits to the number of goals you can set, so you can go all out and track every little detail
• The reporting can come on daily, weekly, monthly, or yearly targets basis, depending on your choice
• Our 24/7 active and helpful customer care service is always there to back you up when you need it
• It has a reasonable subscription-based payment system
• Very friendly and interactive interface, making the dashboard one-of-a-kind
• Simple and smart reporting system using pie charts, graphs, curves, and other presentable methods

Looking at all these features, anyone can understand how great this software is in providing the best KPI dashboard.

Bottom Line

So, what is the bottom line? In a nutshell, the KPI dashboard is an interface that provides you with all the data you need to lead your business on the right path. It is not possible to track every employee’s growth and contribution manually. 

So whether you want to make proper decisions for your business or track everyone’s progress, a KPI dashboard is necessary.

FAQs

How does KPI help to achieve larger goals?

KPIs are small tasks that contribute to large success. You can maintain stable and consistent progress that leads your workflow to the achievement of larger goals. Without KPIs, you will easily lose track of your original goal and drift further away from it.

Is using the KPI dashboard a mandatory task?

Well, calculating KPIs and making a report manually is a long and complicated process. It will consume a lot of your time and effort. But the KPI dashboard is there to do it for you! It will save you time and provide an accurate report. You can understand the whole situation in a minute. So, you better use a KPI dashboard.

Is it possible to track KPIs without a KPI dashboard?

Well, it is not impossible. However, you will have to gather lots of information from different sources, analyze the data carefully, process them, and go through a complicated mathematical process to get an overall KPI review. This is a very complex process and takes a lot of time and effort. Compared to this, a KPI dashboard is way easier and more reliable.