KPI tools are business reporting solutions companies use to monitor and extract actionable insights from their key performance indicators. In doing so, they can monitor and optimize their objectives to achieve sustainable business development and, ultimately, profit.
In today’s cutthroat environment, it is crucial to utilize every possible resource a company can obtain, and KPI reporting tools are at the top of the list. By utilizing a professional KPI dashboard, the selected performance indicators will always stay up to date, ensuring the company’s health stays on course. Get here inspired by over 350 KPI examples for different industries, business functions as well as platforms and explore how your tracking could look like.
Furthermore, modern KPI tools provide a business with numerous features and benefits that are invaluable when it comes to keeping the company on track to meet its goals:
Visualize and interact with data: With the help of KPI reporting software, you can visualize each KPI on customized charts and make interacting with data a pleasure. After you have connected your data sources with a few clicks, you are empowered to perform data analysis and visualization entirely on your own. You can monitor and measure key performance indicators to assess if your operations deliver the expected results. Keep track of the correlation between business operations and performance to identify your weak points and act quickly to erase them.
Master complex analysis: A modern online reporting tool is designed to help you perform complex analysis of your data sources, be that a flat-file, marketing data, CRM- or ERP data, or the most common SQL databases, such as MySQL, PostgreSQL, Oracle, and MS SQL. The KPI tools allow you to store all your data in one place and perform complex analyses on multiple sources effortlessly. You can create customized charts with just a few clicks and track variable performance indicators related to your particular department – like sales, finance, or marketing. No prior SQL knowledge or IT support is needed to operate our comprehensive SQL reporting tools.
View your KPIs from multiple angles: A perfect online dashboard contains various indicators that are important to your business and includes data from several periods of time. However, for some organizations, measuring KPIs seems to be an exercise in futility – they miss out on analyzing the causes of some failed business decisions or tend to watch data in isolation from their business goals. Make viewing data from multiple angles an important part of your business strategy and elevate your company above the competition.
Benefit from professional dashboards: A professional KPI management tool gives you the possibility to measure the performance of your business goals through interactive key performance indicators. But they also take you one step further by letting you combine all your most relevant KPIs together into one interactive business intelligence dashboard. By combining all these performance indicators, you can extract advanced insights and find correlations between varied factors in your performance in an interactive way. For instance, datapine’s interactive dashboard templates can let you understand how much of your sales are coming from your marketing campaigns and plan your strategies in an informed way.
Share your reports anytime, anywhere: Another distinctive benefit and feature of professional KPI reporting tools is the ability to share your reports from any device, anywhere; the only requirement is an Internet connection. Whether you quickly need to send a sharing link, automate your reports based on specific time intervals, assign a viewer with specified filters that enable them to explore data on their own, or send via PDF, CSV, XLS, or PNG file, modern KPI reporting tools provide numerous options you can choose to effectively schedule and share your reports in the safest and efficient way.
Compare performance against targets: As mentioned before, key performance indicators are measurements that help businesses of all sizes monitor the development of their strategies toward achieving company goals. A modern KPI tool allows you to analyze your historical and real-time data to set realistic and attainable targets to measure the performance of your KPIs. This is an invaluable benefit, as setting the wrong targets can lead your business to spend more resources and frustrate your employees by setting high expectations.
Utilize predictive analytics and AI: Busy managers need to track countless KPIs and monitor the performance of whole companies and/or departments. Smart solutions such as intelligent alarms based on artificial intelligence and predictive analytics models will enable you to peek at your future performance so that each person can take advantage of modern technologies that can increase productivity, as a fast and accurate decision-making process is the backbone of operational and strategic goals.
Customize your reports: As mentioned previously, involving every employee in the reporting process is of utmost importance for success. That said, not everyone feels comfortable dealing with KPIs, therefore, ensuring your KPI report is intuitive and friendly for everyone is key. In that sense, modern solutions provide you with a white-label feature that allows you to customize the charts in which you will visualize your KPIs to meet your company’s branding in aspects such as colors, fonts, and logos. That way, you’ll provide a familiar dashboarding environment for your employees.
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It is no secret that the human brain processes visual information way faster and clearer than numbers or texts. For this reason, interactively visualizing your KPIs with a professional KPI tool will open the door to a sea of business insights and improvement opportunities that will empower everyone in your organization to rely on data analysis for their decision-making process.
The importance of KPI tools lies not just within the ease of implementation into your own operations and already established procedures but also in ensuring a collaborative environment as well as multiple additional features that are crucial for succeeding in today’s cutthroat business environment. Some of these features include:
Feature immediate performance snapshots: KPI reporting tools provide an immediate snapshot of the overall performance of the company. They succinctly offer feedback on performance, drawing attention to areas that need to be improved as well as recognizing the things that are being done well. Your business will have access to real-time data that will keep the health of your business on track; you will have the necessary functionalities to make the right business decisions and measure the company’s progress toward achieving its goals. By visualizing all your metrics on interactive charts, you will have a clear understanding of your progress, and no spreadsheet or PowerPoint will ever be able to surpass this notion.
Flexible visualization of KPIs: After you’ve selected the metrics you’ll use to measure your goals, you need to visualize them to be able to monitor and evaluate performance successfully. To do so, you can pick from a wide range of charts and graphs such as columns, bars, lines, and area charts, among many others, to bring your KPIs to life and tell a compelling story with them. Having many options to visualize your metrics is fundamental, as each type of chart has a different purpose and gives you the flexibility to represent your data in a way that suits your analysis process.
Filter unnecessary noise: A KPI report should be focused on indicators that are particularly important for your company. They allow you to cut through the noise of other metrics that may be irrelevant to the business issue at hand and drill down to the metrics that are really meaningful and manageable. This is fundamental as many businesses fail in their analytical efforts because they measure too much of everything, making their analysis overcrowded and confusing. This can be avoided by making the most out of these KPI tracking tools. Your monitored metrics will ensure you obtain sustainable development by focusing only on what matters when it matters.
Promote collaboration: KPI reporting promotes teamwork and mutual learning within a company. You can improve teamwork by alerting your colleagues immediately about problematic areas. Professional KPI reporting software gives them the freedom to access dashboards via web browsers on their personal devices and take action on the spot. By sharing data (and visualizations), you empower your employees to understand the whole background behind a business decision and open up for innovative solutions. Data generated from measuring KPIs foster critical conversations between team members, who can exchange knowledge and jointly make strategic decisions to improve their company’s results.
Interactive analysis features: As we mentioned before, by investing in a modern KPI reporting tool, you will make sure that every important stakeholder is involved in the reporting process. But, besides fostering collaboration, a tool like this can also make the analysis process faster and more efficient thanks to interactive filtering options, enabling you to carry the entire analysis process on one screen. Like this, you leave infinite PowerPoint presentations and static Excel sheets in the past and present your most relevant KPIs in an interactive business dashboard that everyone can access and filter upon need.
Automate the reporting process: As the use of data in a business context continues to grow, so does the time organizations need to spend managing that information in the most efficient way possible. Modern KPI measuring tools offer the possibility to automate the report generation process to ensure you can analyze the data and inform your strategies instead of manually generating a report. All you need to do is tell the tool the KPIs you want to display, and in a matter of minutes, you’ll have a visually stunning report ready to be used and shared across departments.
Offer speed and accuracy: Reports must include industry-specific indicators that allow for benchmarking of competitors and highlight the company’s performance compared to industry standards. With modern software, you will be able to act on emerging business trends faster as well as easily grasp shifts in customer behaviors and market conditions across multiple data sets. And not just that, the speed and accuracy of these KPI tools will provide a safety net whenever updated information is needed, whether during an ad hoc meeting, weekly reporting, or yearly strategic development of a company or department.
Provide real-time data: Today, it’s important to have data at your fingertips, without endless digging through numerous files, notes, spreadsheets, or presentations. The possibility to have real-time, rich data where you don’t have to worry about updating your reports manually, makes these solutions a crucial part of a successful business. This foundation offers incredible opportunities to make a business more efficient, and, thus, decrease costs.
As we have expounded, KPI reporting solutions not just upscale the company’s performance, but also provide a solid foundation for making decisions based solely on data, and ensure you create a firm path to substantial business success. The possibility to interact with the reports you create, eliminating tedious manual tasks and endless checks of created reports, not to mention the likelihood of losing them in all the piles of information you need to handle, makes your data story much easier to manage and follow. KPI monitoring tools create a steady environment – coupled with powerful aspects of modern technology and artificial intelligence, you will know all about your KPIs from a single point of access.
datapine is built on the notions of a safe, stable, and budget-friendly software that provides an easy to track and monitor your individual KPIs on customized charts, tables, and interactive dashboards with a professional dashboard builder. Sit back and watch as the data on your dashboards update automatically. As mentioned, our software returns the hours you would otherwise spend manually inputting updated data into every report. You can then report interesting KPI insights to selected recipients. Choose which dashboards you want to send as a report in PDF, XLS or PNG formats. Schedule a date you want to send out reports once or set up fixed intervals on which they will be distributed. You can also share dashboards by sending a URL to selected viewers and help them better understand the data.
Versatility is one of the key benefits of datapine’s KPI measurement tool. We offer you a wide range of graph and chart types so you can visualize your most relevant KPIs in the most efficient way. Choosing the wrong type of chart to visualize your data can significantly damage your reporting process and the way others perceive the data. With datapine your possibilities are endless, choosing from a wide range of visualizations and personalizing your graphs, charts, and dashboards according to the color scheme of your brand for an extra professional look.
datapine gives you the freedom to access KPI reports online anywhere you are without the nuisance of carrying them around on a portable data storage device and without the stress that your laptop with valuable reports will be lost or stolen. With KPI reporting software, you can view your updated data via any web browser, and any device, whether mobile, tablet, or desktop. Thanks to a state-of-the-art security layer, you can log in from any location with your username and password, knowing that your data is safe and secure. You just need an Internet connection, and your data is there: on a safe cloud, providing you with endless possibilities to tackle your KPIs, drill down into your reports, and create powerful dashboards that will present your departments or company’s data story.
Learn why datapine stands out among competitors and what makes it indispensable for your business. Try our smart KPI reporting software for 14 days for free. Get started now by signing up online for a free trial and creating dashboards with only a few clicks.
We were amazed how easy it was to use datapine and get the first KPIs within a couple of minutes. datapine is definitively a game changer for us as now all decision makers have quick, easy access to ad hoc analysis, KPI dashboards and reports.Sebastian Diemer, Founder at KreditechGO TO PRODUCT OVERVIEW
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