An Introduction to
Products or services delivered by an organization, represent the main characteristics of the organization. They reflect the results of the use of all the systems and infrastructure of the organization, therefore, they require continuous attention based on standard indicators. The competition in the market is determined by the outputs of the organization, and only the companies that have the same and controlled outlet as usual can hope to experience and maintain lasting success.
In this business intelligence software dashboard, product information based on macro indicators such as strategic products, penetration rate, sales return rate, variability, household needs coverage ratio, product price competitiveness ratio, margin of profit for products, and more will be displayed.
One of the most important strategic management frameworks in which managers have shown a great interest in the world is the Balanced Scorecard (BSC). By using different cards designed in the organization and its related dashboards, pursuing strategic goals, achieving the vision of the organization, and most importantly manpower management, will have a visual demonstration.
In the design of dashboards based on the BSC system, the cause and effect relationship between indices, the correlation coefficients of objectives, the achievement of results by funds, the performance of employees according to the enabler and function indicators, the extent of realization of strategic themes and other functional reports are monitored continuously and are monitored in accordance with the organization’s global orientation through a translation into a map of the strategy.
Financial indicators are the most important criteria for assessing the status of each organization, which can be used to measure past performance. However, due to the complexity of computing and colossal amounts of data, most of the time the result is not delivered to managers at the right time and, hence, it does not enable them to make accurate and timely decisions.
Financial intelligence in business intelligence software, on the other hand, have reduced computational time and have applied statistical techniques, such as profitability, revenue structure, cost structure, growth rate, margin, return on investment, cost and more are counted as main indicators of such dashboards.
Financial ratios are valuable indicators that are created by combining two or more distinct financial indicators, and are used to predict success/ bankruptcy, change in profit and returns, and macroeconomic appraisal. These ratios are defined in the business intelligence software based on managerial needs and financial analysts, and its quantity and trend analysis is beneficial for financial and macroeconomic decision making by the organization and is more in depth than isolated ones.
These ratios can be distinguished in distinct categories of profitability, cash flow or liquidity, activity, leverage, valuation and growth. Each of these sections has unique subcategories and displaying them in a large view accompanies a deep, and at the same time, systematic approach for the managers.
DuPont Index (equity return) is one of the most important financial sector indicators, which is a set of leverage and financial ratios that are important and effective on decision makers.
Cause-and-effect relationships Indicators related to DuPont will result in accurate analysis and decision making. Due to the large application of this important index and a lot of research on the use of the scales and its analysis in different industries, a separate dashboard is provided in the BI-software.
This dashboard is based on one of the most important organizational features, the customers. Customers are the source of the organization’s operating income, and successful companies have a portfolio of loyal customers. Delivering a distinctive customer value in achieving the goals of an organization will have positive financial results.
Customer information is useful, in addition to the sales unit/ process, for other organizational sectors, and even considers it as one of the most important sources of business analysis even at the strategic level.
In this dashboard, customers’ information is based on macro indicators such as market share, the extent to which coverage targets, claims (liabilities, delinquencies, and suspicious claims), customer ratios (attracted, steady, growing, and loyal), strategic customers, customer satisfaction, repeated purchases, lost sales, and downsizing, lost customers, active customer customers, call rates or complaints, etc. will be displayed.
One of the most important indicators of measuring the effectiveness of an operation in an organization is the operating cycle. By effectively controlling the operation cycle and downsizing it by eliminating losses and bottlenecks, more value can be obtained at lower cost for customers along with more profitability for them.
A process-based operation cycle can accurately pinpoint the strengths and weaknesses of an organization’s operations, which is easier to follow in the business intelligence software dashboard. In these dashboards, the number of runs, the duration of the operation cycle, the standard deviations, the activities with deviations, etc. can be simply displayed using combined statistics.
Today, with the development of process management tools, the need for operational dashboards and precise control of its indicators (time, capacity, cost, and quality) has increased significantly. Also, considering the origins of the organization’s changes in its operations, the evaluation of operational indicators has become a noticeable part of the time of managers.
To this end, and for the effective use of pivotal process tools, business intelligence software-based dashboards can be considered as appropriate tools for decision making in an organization.
In these dashboards, in addition to delivering indicators such as time for processes and activities, other indicators such as operating costs, output quality, performance, and capacity, can be provided in an integrated manner to individuals and managers with a specific access level.
In an organization, multiple projects with different priorities are constantly running. Continuous tracking of important indicators such as progress, actual cost, the amount of resources consumed, the resulting value, etc. can help in deciding whether or not to continue projects.
Having online reports on these projects in the BI-software can help managers make appropriate decisions and help project managers to anticipate future projects. Combining and consolidating project reports is also an important and effective source for creating an integrated vision of the optimal status of the projects.
Employees are the most important and beneficial asset in each organization, and assessing their status is based on standard indicators, which can be effective in optimizing the decision making process moving the organization toward achieving its goals more effectively.
These indicators include production per capita (per person), educational level per capita, residual amount of leave, the number of people with a contract and the type of their contract, the composition and ratio of expertise, existing knowledge and skills, the extent to which human resource planning has been actualized, etc., which are some of the important indicators in human resources management (HRM). By combining and integrating these indicators into the BI-software, valuable information can be created, which can help better decision making.