Dashboards for Credit Unions

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Business intelligence tools will thrive wherever there is available data that is reliable and accessible. When it comes to BI tools, these work not only by recording and reporting gains, losses, or delinquencies but also aid its users in finding potential opportunities in their industry.

Performance dashboards and other BI tools are increasing in popularity especially for credit unions. This is because these tools help organizations to assess risks aligned with loan portfolios. These also aid them in making informed strategic decisions.

credit union dashboard does more than help the organization manage gains, losses, or delinquencies. It provides more data other than your standard operational reports. They also help measure potential investment opportunities, a rather popular banking KPI.

But for the banking KPI to be of use to the credit union, data should be available to all personnel from the bottom-line employees to the CEOs. And when it comes to data collection, although credit unions have working protocols in place, there are still several challenges that come with the territory.

If the BI tools that they are utilizing don’t have the ability to store long data histories then it would not be easy for these tools to provide its users with historic trends. As such, they’ll require the services of third party agencies, which may provide them with the reports that they need but not in formats that they’ll find usable.

There is also more than one banking KPI that credit unions need to focus on. With the help of a reliable credit union dashboard, they can manage all of these with ease. From updated credit scores to collateral values, credit unions will be able to leverage these pieces of information.

When working with a credit union dashboard, it is important for the organization to consider which particular key performance indicators should be included in their dashboards. This ensures that they will be able to assess relevant data whenever doing so is necessary.

In order to determine the right metrics to focus on, they should discuss their plans, strategies, and goals that they wish to achieve. If credit unions are fully aware of what they want to gain from their investments, they can customize their dashboards to help them make informed decisions from the get go.

Jul
7

KPI Reporting and Dashboards for Project Management

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KPIs enable managers to easily get an insight on how well a project has been handled. Although results are usually taken into account, the use of performance indicators considers all aspects of project management, which often makes KPI reporting more comprehensive as opposed to simple data analysis.

At the end of the day, KPIs provide a way for managers to improve how they handle projects and supervise their own team members. Its contribution to any organization makes it an important business strategy. Here’s a look at what KPI is, what a project management dashboard is, and how the automation of the two can improve project management efforts.

What is a KPI?

A KPI, or a key performance indicator, is a set of numerical representation of an organization’s success as a business. It is also used to measure how a business activity in which an organization has participated in has performed.

To allow businesses to evaluate their performance and success, indicators are defined for each area, division, branch, section, or department of a company. These indicators are then used to create a report that would enumerate in detail the quality of work and results that each section or department has produced.

Choosing the right indicators readily determines the level of improvement that an organization has to go through. This means that wherever a company needs to improve on, it has to be of utmost importance to be included as an indicator in a KPI report.

 

Read more at http://www.infocaptor.com/dashboard/kpi-reporting-and-dashboards-for-project-management

Jul
7

KPI Dashboards for Retail Industry

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The retail industry is highly competitive. It is one of the fastest growing industries worldwide.

Based on the 2015 Global Powers of Retailing Report, the US has

seventy-six of the world’s largest retailing companies. With the growing number of retailers, staying on top will be a tough job.

Retailers who want to rise above their competitors must know all the details about their company. This is where a Key Performance Indicator (KPI) comes to place.

KPIs are helpful in evaluating and monitoring a company’s performance in achieving certain targets or goals. KPIcan also help retailers come up with right business decisions.

Having a KPI dashboard which contains the right data at the right time can help improve the productivity and performance of your company.

While there are many KPIs that a retailer can keep track of, we have compiled ten of the most helpful KPIs for any retail business.

Read more at http://www.infocaptor.com/dashboard/kpi-dashboards-for-retail-industry

Jul
7

Important Metrics for Food and Beverage Industry

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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

Jun
6

Data Visualization Software and KPI For Human Resources

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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

Jun
6

Benefits of Dashboards for Healthcare

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Data backing is extremely important; measurable, accurate metrics more so. In industries, such as healthcare, metrics allow for better strategy formulation and implementation.

Although it is not as easy to convert users of so-called tried and tested management methods, there is a chance of effecting change when increasing costs and decreasing revenues enter the picture.

These days, data is not as difficult to obtain. And when you are running a healthcare business, this is not something you can just turn your back on.

Health costs are always on the rise, leading to the entry of service providers offering to provide healthcare services at a fraction of the price. This then, makes the competition for consumers fiercer every day.

Thus, it is essential to have measurable data for everything from patient spending, operational costs, profits and losses, and the like. These are what KPI performance dashboards for healthcare aim to provide.

Apr
4