1. Introduction to dashboards
Welcome! My name is Olga and I will be your guide for this course.
2. Data deluge
Data has always been a critical asset to the growth of any organization. Data generation, however, is outpacing the development of tools and infrastructure needed to process it efficiently.
To put this into perspective, we collectively produce a staggering 2.5 million terabytes of data every day.
3. Data deluge
Each person is generating about 1.5 megabytes of data per second.
4. Data deluge
And in just one year, we generated an astounding 79 zettabytes of data worldwide.
5. Data deluge
Despite this enormous volume of data, only about 12% of enterprise data is processed.
6. Transforming data into actionable insights
In today's digital age, data has become an essential component of decision-making in business, policy, and economic planning. However, data by itself is just information that cannot provide actionable insights without the use of modern data science tools.
Analytics is the critical technology that brings value out of data.
7. Transforming data into actionable insights
Visual analytics takes this a step further by enabling the integration of analytics into interactive graphical representations, providing stakeholders with data that is easily interpretable by the human eye.
8. Visual analytics technologies
Visual analytics technologies, such as reporting and dashboards, are among the top business analytics tools used by organizations today, according to a recent survey on technologies. In fact, almost 80% of surveyed businesses considered reporting and dashboards to be critical or very important tools for their operations.
But what exactly are reporting and dashboards, and how can they transform data into actionable insights?
9. Reports versus dashboards
Reports and dashboards are tools for monitoring and reporting on business performance. However, there are some key differences.
Reporting is primarily a static data snapshot,
typically presented in a document with multiple pages.
It is often more detailed and focused on presenting historical information,
using tables and basic graphics.
Dashboards, on the other hand, provide a dynamic view of business performance,
typically displayed on a single page.
They are designed to provide actionable information
through the use of interactive graphics and tables.
In this course we will focus on dashboards, one of the best tools for actionable business decisions.
10. Check the dashboard!
Let's formulate a formal definition for dashboards: a visual display of the most important information needed to achieve one or more objectives consolidated and arranged on a single screen so the information can be monitored at a glance.
11. Check the dashboard!
The benefits of dashboards are numerous and include increased efficiency, improved processes, operational and financial insights, higher return on investment, and increased productivity.
12. Check the dashboard!
13. Check the dashboard!
14. Check the dashboard!
15. Check the dashboard!
16. Check the dashboard!
When a dashboard is well-designed, you can quickly find the information for these questions "What's happening?" "What's happened?" and "What's going to happen?".
17. What is an actionable dashboard?
An actionable dashboard is a powerful tool for informing business decisions.
To make your dashboard effective and actionable, it is important to use the right key performance indicators (KPIs),
18. What is an actionable dashboard?
provide accurate information,
19. What is an actionable dashboard?
and define the right audience.
20. The MAD framework: monitor-analyze-detail
To effectively identify the target audience and desired outcomes, a three-layered framework can be followed: monitoring, analyzing, and detailing.
21. The MAD framework: monitor-analyze-detail
The top monitoring level provides a high-level overview of the company's performance using key performance metrics. This level is typically used by executives to quickly assess the state of the company.
22. The MAD framework: monitor-analyze-detail
In the second layer, multiple dimensions are explored to analyze trends and identify outliers. Managers and analysts often use this level to dive deeper into the data.
23. The MAD framework: monitor-analyze-detail
The bottom level is where the granular, detailed operational or transactional data can be found. It is typically used by operational teams.
24. Course overview
This course offers guidance on utilizing dashboard techniques and best practices.
25. Course overview
The course begins by helping you identify the needs of your stakeholders.
26. Course overview
Next, you will learn how to translate these needs into visual components and identify key performance indicators that are relevant to your audience.
27. Course overview
These visual components will be combined into design blocks and arranged according to a specific dashboard type.
28. Course overview
Finally, you will learn how to measure the dashboard's success and adoption.
29. Let's practice!
Let's start putting all these concepts into practice.