There’s a lot of talk these days about how to drive deeper engagement between finance and business teams. One way to do so is with financial dashboards.
Visual analytics open the door for a more collaborative environment in which easy-to-interpret data is more readily shared and can be accessed by anyone with permission to view the dashboard. This is an essential benefit, considering the challenges CFOs and their finance teams face now and in the near future.
Keeping data in silos is one of the biggest financial mistakes organizations can make. And it’s not going to get any better when you consider the sheer amount of data that today’s businesses must manage. “Over the last two years alone 90 percent of the data in the world was generated,” Forbes reported last year.
The simple clarity of reports, graphics, dashboards, and the accompanying analytics can shatter silos and manage increasing data loads to reveal hidden opportunities and insights that likely would have been missed in more traditional analysis and sharing of data.
Here are five ways dashboards can serve as a catalyst to identifying valuable insights that may have been overlooked in the past.