Three Ways the Right Dashboard can Help Your Business
A business intelligence dashboard is an information management tool that uses data visualisation technology to analyse and display information visually in a practical and valuable way.
BI dashboards can access data from multiple sources, analyse and display it via browser or mobile applications instead of manually compiling spreadsheets. The rapid analysis of a dashboard gives business owners transparency and, ideally, the opportunity to make immediate adjustments.
Below we share three real case studies where clients capitalised on the benefits of BI dashboards:
Case study 1.
Highlight discrepancies between Inventory Management and Accounting platforms.
The challenge:
A product-based company noticed discrepancies between their inventory and accounting records. These errors impacted the business bottom line in lost sales, build-up in surplus stock, stockouts and customer dissatisfaction. The business owner had to extract reports from two different platforms and spend significant time cleaning and preparing manual reports before identifying the root cause of the problems.
The dashboard:
The Halkin Technology team developed the Inventory Health Check, combining the BI platform Etani and the inventory management system Cin7.
This interactive dashboard for product-based businesses highlights the red flags and areas that need action in their inventory management system. The tool emphasises areas such as:
Inconsistent orders impacting costs, revenue, and inventory
Sales not correctly invoiced and stock not properly received
Incorrect stock adjustments
Products with discrepancies in cost and price
The Health Check allows managers to act quickly, improving financial results, transparency and accountability.
Case study 2.
Improve visibility on customer leads and drive performance improvement.
The challenge:
A financial services company wanted to improve the visibility of customer leads sales, drive performance improvement, and stimulate internal competition using real-time data. The company used a dashboard that was not fit for purpose and wasn’t effective at driving engagement and performance. These challenges resulted in the management team dealing with an overwhelming amount of unstructured data that could not be translated into meaningful KPIs and performance improvement.
The dashboard:
Halkin Technology team carried out a discovery process and developed an interactive dashboard in PowerBI connected to a brand new cloud-based database, which receives CRM information via an API. The dashboard surfaces the most critical information for the business, keeps the sales representatives up to speed on their individual goals, and helps managers easily spot the top performers.
Additionally, the report is connected to large TV screens and updated in real-time with CRM and financial data. As a result, in addition to eliminating the need for manual reports, the dashboard drives engagement, competitiveness and performance improvement.
Case study 3.
Improve sales and staff decisions using financial and non-financial information.
The challenge:
A retail company needed to improve sales and staff decisions by analysing financial and non-financial data. The business challenge was a lack of information to decide the ideal team in each store and ensure profitability throughout the day. The solution should allow them to respond quickly to variations in sales and costs and take action involving rostering, products and marketing.
The dashboard:
The dashboard for this challenge involved a real-time comparison of wages and intra-day sales across different periods, integrating the rostering and point of sales platforms. The combination of financial and non-financial data produced new and meaningful insights. The actionable dashboard was also available via a mobile app, giving managers the resources to track the performance of several business units from anywhere. Halkin Technology can integrate point of sales systems (such as Kounta/Lightspeed), rostering systems (such as Deputy) and many others, making use of tools such as the Microsoft Power Platform (Power BI, Power Apps and Power Automate). For clients, the platform can reduce the cost, complexity and risk of data analytics and empower your team to make faster and wiser decisions.
How can halkinbp help?
Halkin can provide your company with insights, help you achieve data integrity, and provide access to the data that matters for your business. We can walk you through every component of a good business dashboard while explaining the potential benefits of each approach.
Halkin works with hundreds of companies on reporting, analytics and data integrity. We can help you design, plan, build, publish and maintain strategic dashboards across different platforms. Your insights will evolve with your business, so you reap the benefits of making data-driven decisions. If you believe this can bring value to your business, reach out today.
