Managing a manufacturing company requires being aware of what is going on around it. Concretely, this means having a global view on a multitude of important aspects within the company. As an executive working in this sector, you are overwhelmed by the multitude of data coming in from all sides.
Data is the lifeblood of a 4.0 manufacturing company, and the ability to understand it or not, and to use it optimally influences the development of dashboards. It is therefore crucial to have a tool that will help you manage and process this influx of information in order to monitor every important aspect of your organization.
Dashboards are an effective way to address this issue. Indeed, you will have a tool that will serve as a central point to visualize key information about your company in order to facilitate its analysis and interpretation for strategic decision-making.
Monitor your data in an automated way with the dashboards
A good dashboard should allow you to have a quick view of the key points of your business, so you will be able to monitor your business data in an automated way, and even more. But first, let’s see what a dashboard is.
What is a dashboard?
Dashboards are the technological weapons of modern companies. It is an information management tool that allows you to visualize your business data by presenting it in an accessible manner and is easy to interpret through simple tables and graphs.
With this tool, you will be able to track and evaluate the relevant KPIs that will allow you to manage your business in an optimal way. The dashboards are designed to automatically track the complex data flows that your company generates in large quantities, in order to extract actionable information that will help you gain an overview of current performance.
The dashboard of a manufacturing company
For a manufacturing company, dashboards will be used mainly to track key KPIs in order to evaluate the performance of the various operational processes in place. A dashboard will need to present different indicators to monitor and optimize production quality. Similarly, you can use a dashboard to have a view on the supply chain in order to identify the parts that are working well and those that need to be improved.
The 8 advantages of having a dashboard for a manufacturing company
For a manufacturing company, the advantages of a good dashboard are multiple, and the main ones are the following:
#1: Global visibility on your company
The first utility of a dashboard is that it allows you to visualize briefly the key KPIs of your company, allowing you to have a global view on the important aspects of your business.
#2: Ease of interpretation thanks to intuitive data presentation
With a well-designed dashboard, you have clear information about your performance and other critical business data from a multitude of complex data that would otherwise be difficult to process.
# 3: Real-time results and availability at all times
Modern dashboards are designed to be available on different terminals (mobiles, tablets, etc.) at any time with the most up-to-date data. No more reports that take time to compile with results that no longer reflect the ever-changing reality.
#4: Ability to identify trends by following historical data
The dashboards draw their results from the different data sources you have available. With your historical data, you can easily identify trends with the right visualization tools.
#5 : Ease of customization: focus on the information that is yours important
The dashboards can be customized according to the users and their needs. It’s up to you to choose the information that is most useful and important to you and integrate it into the results.
#6: Enhanced communication and collaboration
With the use of a dashboard, it becomes easier to share important information between employees so that everyone has the same access to information. An essential point to rally everyone to the achievement of common objectives.
#7: Increasing efficiency through continuous monitoring
The aim of measuring important aspects of your company is especially in the context of continuous improvement of your internal processes. With the right KPIs, you can easily identify the different points that require your attention.
#8: Better decision making
With Business Intelligence, you have the tools to take your business to the next level. Indeed, with BI you have the tools to analyze your business data efficiently and present the information you have taken from your dashboard to make strategic decisions in an intelligent way.
The right dashboard as a competitive advantage
Proper monitoring of your company’s performance at all levels is essential to improve your results. The most important thing is to know how to choose the KPIs to evaluate, and to make the right decisions accordingly. A dashboard is not an end, it is the actions you take behind it that will make the difference for your company.