Everyone who drives a car understands the importance of a dashboard. How fast are you going? How much gas do you have left? Are there any warning lights flashing?
An executive dashboard can give you the same kind of information in real time for your organization and its health.
Below are the key characteristics of an executive dashboard:
- Uses visual indicators as a primary mode of providing information
- Connected with databases that provide near real-time information
An executive dashboard runs on your computer, uses graphs and maps as a primary display device and is connected to databases which are updated regularly so you aren't looking at old information. Just like car dashboards, executive dashboards can vary in appearance.
There are many industry standard frameworks to implement dashboards. Examples of these include: Balanced Scorecard, Six Sigma, SCOR. In the subsequent posts, these frameworks will be discussed in greater detail.