Peer Post 1:
by Tinuke Julius-Adegoke What is a “digital dashboard”? Who should the information be tailored for? Does dashboard information need to be real-time? Why or why not? Attach a screenshot of one digital dashboard that is used in a business.
WHAT IS A DIGITAL DASHBOARD?
A digital dashboard is a type of business intelligence tool that allows business leaders to track, analyze, report, discover issues, and cure problems an organization faces immediately. Current interactive dashboards make it simple to synchronize data from variety of sources to deeply study the data directly within the dashboard. It is a data visualization and analysis tool that displays on one screen the status of key performance indicators and other critical business successes or failure and data points for an organization, department, team, or process. Learning analytics dashboards (LADs) can provide learners with insights about their study progress through visualizations and learning data. (Rets I., et al., 2021). Competitive intelligence is one of the most potent economical instrument methods for executive information systems with a relatively high rate of effectiveness. (Yin, 2015). Competitive intelligence refers to actionable information about the external business environment that could influence a competitive position in an organization.Competitive intelligence is not a euphemism of industrial intelligence or economic espionage (Nolan, 1993), (Chen et al., 2002).
Who should the information be tailored for?
High-level executives and Vice Presidents. In the example below in the screen shot, a sales dashboard provides the audience with data at their fingertips, for high-level executives and Vice Presidents. It is crucial to consider and ponder on what the high-level executives will be looking for.
Does dashboard information need to be real-time?
Yes, dashboard information needs to be a real time.
Why?
A real-time dashboard is a type of chart that is automatically updated with the most recent and reliable data available. Without real-time, the executives may not be able to track important business metrics. These visualizations feature a combination of historical data and real-time information that is useful for identifying emerging trends and monitoring efficiency. Real-time dashboards usually contain time-sensitive data, like operational data, sales numbers, and inventory-related figures.
Why not?
Organizations operate in completely changing environments that are constantly changing, whether sales ebbs and flows, industry fluctuations, or the effect of specific news stories on the market. This flux produces operational challenges that must continually be monitored. Monitoring productivity in real-time makes it easier to make quick decisions with greater confidence.
Regarding business intelligence as a system Talaoui, et. al., asserts that:
To bridge the gap between the business user and information access, business intelligence applications ranging from data warehousing, online analytical processing (OLAP), data mining, extract-transform-load (ETL), and user interface provide a companys executive information system with the necessary technologies to process huge volumes of unstructured data, in order to present it in a timely manner to executives. (Talaoui, et. al., 2020).
Business Intelligence contributes to firms. (Clark, 2012).
Find below screenshot of a digital dashboard that is used in a business.
(Davis,2021)
References:
Chen, H., Chau, M., & Zeng, D. (2002). CI spider: A tool for competitive intelligence on the Web. Executive Information Systems, Vol. 34 Issue (1), 1 17. https://www.sciencedirect.com/science/article/abs/…
Clark J. W., (2012) The Strategic Role of Business Intelligence in the Extended Enterprise: BI Configurations for Control Affordances in Outsourcing, 45th Hawaii International Conference on System Sciences, 2012, pp. 4199-4208,doi:10.1109/HICSS.2012.587.URL https://ieeexplore.ieee.org/abstract/document/6149…
David M. (2021), What is Dashboard Last modified: August 09, 2021? https://dataschool.com/how-to-design-a-dashboard/what-is-a-dashboard/.
Nolan, J.A. (1999), “Competitive Intelligence: It’s the Third Millennium: Do You Know Where Your Competitor Is?”, Journal of Business Strategy, Vol. 20 No. 6, pp. 11-15. doi.org/10.1108/eb040035.URLhttps://www.emerald.com/insight/content/doi/10.110…
Rets I., Herodotou C., Bayer V., Hlosta .M & Rienties B.,(2021), Exploring critical factors of the perceived usefulness of a learning analytics dashboard for distance university,students. International Journal of Educational Technology in Higher Education; Heidelberg Vol. 18, Iss. 1, doi:10.1186/s41239-021-00284-9 URLhttps://2x21c23uv-mp01-y-https-www proquestcom.proxy.lirn.net/pqrlarts/docview/2568103759/fulltextPDF/D7C68AAC16F14ED0PQ/1?accountid=34773.
Talaoui Y., Kohtamki M., & Rajala R. (2020) Seeking ‘Strategy’ in Business Intelligence Literature: Theorizing BI as part of strategy research, Technology Innovation Management Review doi: 10.22215/timreview/1387. URL https://timreview.ca/article/1387.
Yin, C. (2015). Measuring organizational impacts by integrating competitive intelligence into executive information system. Journal of Intelligent Manufacturing, London, Vol. 29 Issue (3), 533-547, doi:10.1007/s10845-015-1135-4 URL https://dl.acm.org/doi/abs/10.1007/s10845-015-1135…
Peer Post 2:
by Jana Kmetova
What is a “digital dashboard”? Who should the information be tailored for? Does dashboard information need to be real-time? Why or why not?
A Digital dashboard is a business intelligence item that can help businesses to lead and the tracking analyzing, and reporting on KPIs. The main idea is to combine multiple sources into one data table, and also, it can deeply explode and analyze those items. The best benefit of a digital dashboard is that it can combine and choose the important data points and better leverage the data to improve the company decisions. So many companies have their data disorganized and are a waste of their money. The second big benefit is that the reliable shared data helps advance a data-driven culture throughout all company levels. Digital dashboards are powerful tools, but including too many complex visualizations can hinder quick insights. Digital dashboards are great, but including too many complex visualizations can prevent quick insights. The management should study various designs until they have a dashboard that presents its needs and stories clean and simple (Qulik, 2021).
Current data obtained in the digital dashboard is necessary, but real-time data is more directly operational. Any unbalanced focus on any data, trend, or real-time isn’t a great idea. It can be a problem for trends because when managers later recall events, they lose the distinctions they appreciated at the time. By looking only at trend data, managers neglect to fully appreciate and understand the multitude of actions that lead to that trend, suggesting simplistic solutions. This can come back to managers when they decide to repeat the previous successes but can’t because they have ignored the specific steps and conditions that made them successful the first time around. The data should be overlooked at any time as needed so that managers can predict better future circumstances. Just observing trend data and thinking strategically misses the opportunity for strategic developments. (Smith, 2012).
Resources:
Qulik, (2021), Digital Dashboard Guide, https://www.qlik.com/us/dashboard-examples/digital…
Nick Smith, (2012, July 25) Yes, you do need a real-time data dashboard with appropriate metrics, https://www.geckoboard.com/blog/yes-you-do-need-a-…
Requirements: 150 words each
Requirements: above