Important Metrics for Food and Beverage Industry

The food beverage industry can be extremely demanding if not highly competitive. Hence, it is important for managers and staff to remove guesswork from their vocabularies and instead utilize a dashboard app or two that will be able to assist them in running the business effectively, efficiently, and profitably.

Aside from standard excel dashboards, there are other reporting tools that focus on various metrics and KPIs that ensure that restaurants know what their strong and weak points are, where they are doing great service and earnings wise, and where they need to take more action and implement better controls.

Especially now that we live in a data-driven environment where access to real-time information is easier than ever, there is no reason for restaurants not to use excel dashboards to monitor their daily operations. There are distinct areas that need to be focused on and here they are:

  1. Kitchen
  • Food Cost

By comparing weekly food sales with purchases, your dashboard app will tell you whether you’re profiting from daily kitchen operations or not. Even spoiled food and other wastage are computed to determine the overall cost.

In the food beverage industry, there are certain percentages for food costs that are acceptable and those which are simply unjustifiable.

  • Kitchen Labor

It is also important for managers to know whether they have too many staff working in the kitchen at said hours of the day or not.

Read more at http://www.infocaptor.com/dashboard/important-metrics-and-kpis-for-food-beverage

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Importance of Business Intelligence for Education

Providing quality education and running schools as a business are becoming more demanding these days. To maintain the efficiency and effectiveness of K-12 education, schools should really invest in reliable business intelligence tools.

Armed with the right BI tools that focus on several key performance indicators, they will be able to run the school well, as a business, and provide the necessary educational resources to those who depend on them for knowledge.

There is a lingering problem across the world wherein school administrators are expected to make magic with as little funding as possible. Usually, more funding is provided to facilities that deliver exemplary results in terms of student performance.

This is why the school board should monitor KPI metrics that will help them manage their operations and ensure that they provide the best educational resources to the students attending their facility. In doing so, they can generate the kind of performance that will generate them much needed financial support to continuously improve their offerings.

Information relating to school fees, student population, daily attendance, class sizes, program offerings, academic results, and the like are all essential key performance indicators. And with heavier competition to attract new students and supporters, a reliable performance dashboard becomes all the more necessary.

Read more at http://www.infocaptor.com/dashboard/how-important-is-business-intelligence-for-education

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Benefits of Exetuvie Dashboards for Call Centers

Managing a call center is no easy feat, hence, business intelligence tools such as an executive dashboard can be tremendously helpful.

Call center management needs constant attention. Managers should focus on the latest performance metricsand important industry KPIs. Taking these into consideration, arming company executives with a reliable call center dashboard is worth its weight in gold.

Keeping a watchful eye on all the activities of the call center that you’re managing can help you increase overall productivity, and business intelligence tools should will play a major role. Not only will you be able to reduce handling times significantly but also be able to meet the obligations of your service level agreements hassle-free.

With the industry of call centers being one of the most competitive these days, providing clients with the highest level of service is the ultimate goal and you can assure service quality when you have an executive dashboard in your arsenal.

It works by increasing the visibility of real-time metrics that are crucial to your business. With a dashboard app, you can access vital information immediately and address any issues before they become potentially damaging to your company.

In any call center dashboard, there are several performance metrics that you have to pay close attention to and here are some of them:

Read more at http://www.infocaptor.com/dashboard/executive-dashboard-analytics-for-call-centers

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Benefit of Dashboard Reporting for Government Operations

Dashboard reporting has never been more important to the government. Considering the humungous streams of data collected through government agencies and programs, the challenge is how to make sense of these data in a way that they will benefit the organization and perhaps save large amounts of money as a result. The use of this type of reporting has been exalted by the US.

In the US

The US administration flaunted the advantages of using dashboards during the presidency of Barack Obama. They said that using a dashboard is an effective way of collating and filtering data so that these data become useful to decision makers. They credited the dashboard for being able to make them see better the implications of data and act on them appropriately.

One example cited by the government is how a dashboard helped them see the status of their investments, particular in pursuing the advance of technology.

The claim from the administration of Obama was that they were able to make better decisions using the data presented by the dashboard. According to them, this led to billions of dollars in savings and cutting delivery time for technological projects.

The US Congress has communicated a positive sentiment on the matter of using a government dashboard for federal decision-making and operations. It expressed interest in increasing the use of transparency tools, such as dashboards, across federal spending programs.

It is expected that more efforts will be exerted towards this goal and the use of dashboards may even be continued to be implemented after Obama relinquishes his office.

Other governments

Read more at http://www.infocaptor.com/dashboard/dashboard-reporting-for-government-and-how-it-can-benefit-government-operations

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Data Visualization Software and KPI For Human Resources

For business analysts focused on talent acquisition, data visualization is an important tool that provides a quick and easy way of presenting valuable information. For everybody else, it’s a better way of understanding data. It makes looking at reports easier with visually stimulating images. Slight adjustments to such images can even render different concepts and scenarios – perfect for business intelligence and analyzing trends in human resources.

In general, data visualization helps business analysts to present sales volume forecast, understand product placements, determine factors that affect consumer behavior, and identify areas of improvement. Given these capabilities, what can it do to improve KPI reports and dashboards especially for the human resources industry or departments in organizations and companies? More importantly, what is the role of data visualization softwarein the increasing trend of using KPI dashboards for human resources? Let’s find out.

What is Data Visualization?

Data visualization communicates information efficiently and clearly using information graphics, plots, and statistical charts. Bars, lines, or dots represent quantitative messages and numerical data. The human brain is wired to process information more easily by looking at what the eyes can see. The use of images, graphs, and charts therefore, requires no effort when visualizing large quantities of complex information as compared to analyzing reports and spreadsheets.

Because of this observation, data visualization is considered one of the modern versions of visual communication, the study and creation of visual data representation. According to Michael Friendly, a renowned pioneer in information and data visualization, information that uses schematic forms, variables, and attributes, to convey more information is considered a form of communication.

Read more at http://www.infocaptor.com/dashboard/data-visualization-software-and-kpi-metrics-for-human-resources

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Importance of BI tools for Pharmaceutical Industry

The pharmaceutical industry has been focusing much of its energy on producing the next chartbusting drugs.

However, the industry is also facing challenges in terms of the changing regulations, increasing number of declines on drug approvals and the continuing need to develop high value biologics. Refocusing efforts is imperative.

There are existing processes, systems and practices that need to be immediately addressed. Key performance indicators (KPI) using BI tools help corporations identify areas that need continuous development and highlight successes already achieved. This helps pharmaceutical companies grasp their management operations better.

What is KPI?

Simply put, KPI is a measurement of something that is vital in a business’s operations. In the pharmaceutical industry, measurements on drug cost overall trend for a certain drug are examples of KPIs.

What KPIs to Include

Before using dashboard software to view KPIs, it is important that useful KPIs be identified first. Some KPIs are not useful to a certain organization, depending on the operations and the needs of that organization. It is therefore important to have long discussions first before operating a KPI dashboard. Discussions should tackle on:

  • Assessing the organization’s strategies.
  • Determining the business drives that have an impact on the execution of strategies.
  • Identification of long-term and short-term goals.

Determining useful KPIs is one the most important tasks of managers. KPIs based on the organization’s objectives are essential components of an effective and helpful dashboard. What you will see on the dashboard will largely depend on how you specify your KPIs.

Read more at http://www.infocaptor.com/dashboard/dashboard-bi-tools-for-pharmaceutical-industry

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How Can Metrics, Analytics, and Dashboards Help a Struggling Entrepreneur

Startups or even a small business should take advantage of business intelligence tools. Especially for entrepreneurs who are considering themselves to be struggling in making ends meet, leveraging data can be their ticket to better operations, boosted sales, and overall business success.

When we talk about business intelligence, there is no specific reference to just one piece of software but a collection of programs that exist to help people collect and assess good data.

Aside from multiple programs, BI tools also include elements that can help improve business practices, maximize infrastructural investments, optimize performance, and enhance decision-making processes.

Business intelligence tools like metrics, analytics, dashboards, and key performance indicators can help small business owners to pull together a wide variety of details not only from external sources but more importantly from the different parts of the business itself.

These tools then collate raw data and they churn out reports, charts, graphs, and assessments that are easy to understand. Basically, the tools perform all the analyzing and what startups are left with are details that they can immediately use to take action.

The time it takes to collect the data and produce usable insights is significantly reduced. This saves the struggling entrepreneur valuable time that can be used to take proactive actions towards improving the business.

The great thing about business intelligence tools like key performance indicators for example is that they can be used by startups to look at all aspects of their business.

It can provide valuable information showcasing sales performance and strategy effectiveness. Even things like staff performance and costing can be assessed in no time.

When a small business starts to experience problems, often it is because of things like excessive wastage, non-optimized inventory levels, inefficient costing, and undeveloped business protocols.

Business intelligence tools can help address all these issues, if not more, and help a company understand where they are making mistakes and where they need to invest more effort and control.

For a small business, there are several key performance indicators that should be focused on

Read more at http://www.infocaptor.com/dashboard/can-metrics-analytics-and-dashboards-help-a-struggling-entrepreneur

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Business Intelligence for the Finance Industry

The banking and finance industry is experiencing continuous changes brought about by advances in technology. The changes are welcome – however not without the accompanying challenges.

As a result, the kind of market we now have is dynamic and Wall Street is making the necessary adjustments, not to dampen vibrancy in the market, but to improve strategies in line with the changing technology. That requires developing new tools and implementing them correctly.

Business Intelligence (BI) Tools for Financial Institutions

There are a lot of tools that have been developed and ones that are worth discussing about are business intelligence tools that help managers identify better management practices and make smarter business decisions. A finance management dashboard is one of these tools.

Here’s a quick look on how this kind of instruments can help in those areas and in other areas such as profitability, reduction of risks and creating competitive advantage.

  • Operational Efficiencies

Improving efficiency is a key to winning in the competition. BI tools can analyze how efficient are the operational processes leading to maximization of resources and expertise and to reduction of operational cost.

How good are you at customer experience? A dashboard can help you improve this at the point where your employees and customers come face to face.

  • Products and Services

BI tools do not only allow managers to track which products and services are performing well but also give them insights on the needs and experience of their customers.

  • Marketing

Do you want to know the best market segment to target? A simple dashboard is all you need to have a good picture of it. The tool can also show you which customer profile gives you the highest revenue and the one that should be put lowest in the list of priorities.

  • Customer Retention

There are customers who are loyal to you. You need to know the reasons why they are staying with your business, but you also need to identify why others are leaving.

Business analytic tools can help you determine the reasons why and lead you to taking steps to improve your retention rates.

  • Risk Reduction

This is an ever-changing world where nothing is 100% certain. How would you keep track of your customers and internal organizations so that you can early detect possibilities of fraud?

You can use BI tools for this. There are also lots of benefits from knowing your clients’ financial capacities, which a dashboard can provide you 24/7.

  • Investment

At some points, managers run out of invest ideas and strategies. The good thing about BI tools is that they can bring in “new” results from real-time data.

New results mean new things that can be explored further for better decision making and development of new approaches to investing. That’s the kind of data and analysis only a dashboard can bring to your organization.

As an example, the number of cars on a shopping mall’s parking lot can be useful in triangulating consumer research. Recently, images from satellites are used to gather data of the global supply of fuel.

These and more examples clearly show how indispensable BI tools can be in the conduct of modern business.

Read more at http://www.infocaptor.com/dashboard/business-intelligence-for-the-finance-industry

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Benefits and Use of Analytics for Insurance

The world in which we live is a volatile world, a fact that doesn’t bode well for the insurance industry whose greatest ally is “certainty”. Analytics, however, can somehow fill the gap. In this regard, BI reporting tools such as data visualization software are extremely useful.

Advanced analytics for insurance allows all stakeholders in the industry to identify new growth opportunities and risk factors as soon as they take shape. Insurance companies such as yours can benefit from analytics in two ways.

  • Protect your enterprise.
  • Optimize your business’s growth.

Three important things to remember

Read more at http://www.infocaptor.com/dashboard/benefits-and-use-of-analytics-for-insurance

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List of Visualizations and Chart Engines

The internet is quickly filling up with wonderful visualizations and this is because of greater awareness that "Visuals are better than spreadsheets" for conveying the story.

This couldn't be possible without the innumerable Charting engines made available by the dedication of open source developers.

Checkout the wonderful and interesting list of charts and engines that were submitted to Hacker News

Read more at http://www.infocaptor.com/dashboard/big-list-of-visualizations-and-chart-engines

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