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 allows management to successfully evaluate progress compared to expectations.
What is a Dashboard?
Dashboards are made up of multiple report types, allowing users to easily compare and contrast different reports or access diverse datasets within one business intelligence environment. 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 ACV, velocity, new item sales, 52-week profit analysis, and exception reports. Dashboards can be customizable allowing the same data set to be used by multiple stakeholders across departments. Ideally, the data should 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. Energizer understood this and utilized RW3’s BI Suite to create their own dashboards and scorecards.
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