Understanding the Difference: Scorecards vs Dashboards
What is the difference between a scorecard and a dashboard? Often times, organizations are utilizing both, but use the terms so interchangeably that it can be difficult to differentiate between the two. In a few short sentences, I’ll quickly explain the difference.
What is a Scorecard?
A scorecard is a type of report that measures and compares your performance against your projections and goals. It evaluates the success and failure of your efforts, based on key performance indicators (KPIs). These KPI’s must be determined early which will allow management to successfully evaluate progress.
What is a Dashboard?
Dashboards are made up of multiple reports, allowing you to easily compare and contrast different reports or access diverse datasets in one place. Scorecards can be included and viewed on a dashboard with other types of reports as well. Some of the most common reports used on a dashboard are new item trends, 52-week profit analysis, and exception reports. Dashboards can be customizable and present different views from the CIO to a field rep. Ideally, you want the data all to be pulled from a single data repository to ensure accuracy within your reports.
Where’s the Value?
Scorecards provide serious value to an organization if done correctly. With scorecards, businesses can evaluate their goals and direction, determine if they are on track, assess trends and patterns and utilize resources in the most efficient way possible.
Not Sure If a Scorecard is Worth the Investment?
Check out our post here, The Three Truths: Why Every Organization Needs A Scorecard
To learn more about the current state of the CPG industry you can download the 2017 CGT Analytics Study – Building an Insight-Driven Organization.
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