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The Usefulness of Dashboards in Market Research

By April 15, 2021No Comments

The Usefulness of Dashboards in Market Research

 

  15/04/2021

The Usefulness of Dashboards in Market Research

15/04/2021

Dashboards are expected to improve decision making by amplifying cognition and exploiting human perceptual capabilities. Business environments and organisations generate more data day by day, increasing the demand for solutions and data driven decisions. That being said, a dashboard’s value is inextricably linked to a company’s performance when well developed.

As a data driven decision support system, dashboards consist of effortlessly studying your data thanks to smart visualisations and skilful design. All the variables thoroughly interact in order to guide the user with a narrative which assigns a strategic cue, identifying relevant information and business opportunities.

John Michael,
Data Science Intern
Fact: I have a passion for Science

ABOUT ONEST  

John Michael,
Data Science Intern
Fact: I have a passion for Science

ABOUT ONEST  

Dashboards are expected to improve decision making by amplifying cognition and exploiting human perceptual capabilities. Business environments and organisations generate more data day by day, increasing the demand for solutions and data driven decisions. That being said, a dashboard’s value is inextricably linked to a company’s performance when well developed.

As a data driven decision support system, dashboards consist of effortlessly studying your data thanks to smart visualizations and skillful design. All the variables thoroughly interact in order to guide the user with a narrative which assigns a strategic cue, identifying relevant information and business opportunities.

Dashboard Functional Fit

Market research is a field overflowed with questions, surveys and the clunk of data that comes along with it. This makes it long and complex to analyze when displayed on static platforms. Market research dashboards are a big asset that companies can take advantage of. It permits the visualisation of multiple questions at once, the parallelisation of surveys, the comparison of results, and filtering or drilling-down in the data. 

Depending on their intended use, dashboard designs can vary considerably. However, the overall objectives of dashboards incorporates the following;

  1. A common set of goals and objectives that can be defined across all business strategies; 
  2. Providing a holistic view of performance against program goals, and all roll up into consolidated dashboards which can be used for CEO and different departments; 
  3. Users and stakeholders can better manage their programs from a priority and resource perspective in a real-time, on an ongoing basis, and make any needed adjustments in time; 
  4. Senior management reporting provides clear, tangible evidence of the overall business impact; 
  5. Strengthening of different area alignment.

Dashboard Functional Fit

Market research is a field overflowed with questions, surveys and the clunk of data that comes along with it. This makes it long and complex to analyze when displayed on static platforms. Market research dashboards are a big asset that companies can take advantage of. It permits the visualisation of multiple questions at once, the parallelisation of surveys, the comparison of results, and filtering or drilling-down in the data. 

Depending on their intended use, dashboard designs can vary considerably. However, the overall objectives of dashboards incorporates the following;

  1. A common set of goals and objectives that can be defined across all business strategies; 
  2. Providing a holistic view of performance against program goals, and all roll up into consolidated dashboards which can be used for CEO and different departments; 
  3. Users and stakeholders can better manage their programs from a priority and resource perspective in a real-time, on an ongoing basis, and make any needed adjustments in time; 
  4. Senior management reporting provides clear, tangible evidence of the overall business impact; 
  5. Strengthening of different area alignment.

 

Questions such as ‘Who is the audience?’ (demographic data), ‘What do they buy?’ (consumer behaviour) or better, ‘What do they need?’ (statistical model) have helped organisations to increasingly use data mining techniques and predictive analytics to discover previously unknown relationships, predictions and clusters, which empower new challenges and opportunities in terms of being ahead of competitors.

As an essential support system, dashboards are viewed as the driver of data driven effectiveness, providing real-time performance data to keep the business on track and ahead.

Questions such as ‘Who is the audience?’ (demographic data), ‘What do they buy?’ (consumer behaviour) or better, ‘What do they need?’ (statistical model) have helped organisations to increasingly use data mining techniques and predictive analytics to discover previously unknown relationships, predictions and clusters, which empower new challenges and opportunities in terms of being ahead of competitors.

As an essential support system, dashboards are viewed as the driver of data driven effectiveness, providing real-time performance data to keep the business on track and ahead.

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