Why do Real Estate, Infrastructure & Construction Enterprises need a Digital Dashboard? Joydeep Banerjee
Author -Joydeep Banerjee Head Business Development, Highbar Technocrat Ltd.
The volume of data generated by real estate, construction and infrastructure enterprises today is enormous. A large chunk of this data can enable business decision-makers with valuable and actionable insights to make more informed decisions. The upfront challenge, however, is to analyze this colossal data being generated by a large enterprise round the clock. In such a scenario, digital dashboards empower you to keep track of data points which are business critical to your organization.
Understanding the Role of Dashboards in Enterprises
For every business user going through monthly reports and databases to make informed decisions, consumes significant time.Furthermore, in most cases, business-critical information is restricted to specific users and the information required by people in different roles and levels of seniority in the organization differs vastly.
Dashboards empower business decision-makers and department-heads with just the specific information they need in a form that can be quickly analyzed and interpreted for a precise and swift assessment of business performance metrics. Enterprises can benefit immensely from real-time access to data-led results and authentic data from varied sources. Dashboards can be customized with templates that display necessary information with details of trends, patterns and also alerts for areas which require attention. Dashboards can thus help an enterprise significantly enhance the effectiveness and agility of its decision-makers at all levels of its hierarchy.
Here Is How Digital Dashboards Can Drive Real Business Value for Your Organization
One of the most significant advantages of deploying Digital Dashboards for your enterprise is the 360-degree visibility you gain across your operations. The information you require is available in real-time as against monthly reports, making your organization more agile and market-ready.
Proactive Decision Making
With consistent access to performance measurements, the management team forecasts and swiftly revamps its strategies to changing market dynamics.
Exceptional Business Efficiency
As your enterprise becomes more agile, boardroom meetings will witness decisions based on a deeper understanding of data and its effect on the business. Dashboards convert information gathered from across your organization into meaningful reports, empowering you with access to reliable and precise data.
Better Employee Engagement and Productivity
With instant real-time performance reports, employees can be quickly and consistently briefed on their performance and the areas of improvement. This not only results in enhanced transparency and employee engagement but also drives the workforce to be more productive.
Overall Understanding of Business Operations
The principal objective of digital dashboards for your enterprise is to allow you to garner a comprehensive understanding of your business. With this perspective, a complete understanding and visibility across your operations will help you better strategize for the current and future success of your enterprise.
Important Factors to Consider while Deploying Dashboards
Before you make your final move to implement dashboards, there are some critical parameters you need to identify to ensure that your investment synchronizes with your business goals and strategy.
KPIs – A Dashboard investment is most effective when it displays the business-relevant KPIs (Key Performance Indicators). Hence the first step in this regard is to identify the most business-critical KPIs.
User Interface- A one size fits all strategy doesn’t align well with dashboards. While the KPIs may remain the same, each distinctive set of users want to view the data in a specific format. It is therefore recommended to thoroughly analyze the data visualization needs of different roles.
Display– While deploying a real-time Dashboard, visual representation of critical data is useful to conveniently identify trends and areas of improvement. Geo Maps, Pie Charts, Graphs all come with their advantages in different scenarios. It is therefore important to include graphical formats in your dashboard application.
Integrating Back-End Systems -Dashboards need to integrate with corporate systems, hence you need to analyze the corporate systems spread across your organization to ensure that the tool is interoperable and compliant with security requirements.
End Point Devices– Dashboards which relay information in real-time are most productive when they are accessible from anywhere. It is therefore imperative to have a mobile strategy implemented in your organization to achieve maximum productivity from the investment.
How Dashboards Can Revolutionize Construction and Infrastructure Industry
A large number of construction firms require information which is spread across multiple data points including current orders, inventory updates, material consumption etc. Dashboards allow different stakeholders of a construction enterprise including project managers, executives, board members etc. with different data access to make the best business-centric decisions. They also empower them with analytics for cost-benefit analysis. Furthermore, project managers can benefit from seamless access to track and manage shipments and the current role of subcontractors. Team leaders can also track individual employee performance to meet stringent deadlines and cut operational costs. In summary, dashboards can add significant effectiveness, agility, efficiency and scalability in your business operations, with operational and strategic benefits.
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