Company leadership relies heavily on reports from several team players in order to make educated business decisions. Often, the go-to method for pulling these reports together requires your team members to manually extract data from any number of analytics tools, transfer the data into an Excel spreadsheet, and then deliver the results to company leaders in the form of a report.
While it’s true that Excel is a sophisticated analytics and reporting tool with many excellent features and benefits, in this day and age, relying solely on Excel can actually be a huge hassle for everyone on your team. Thankfully, recent software developments, specifically marketing analytics and reporting dashboards, make the number crunching and reporting process so much easier for everyone.
This article will give you a few of the top reasons why company leadership prefers marketing dashboards over simply Excel as a way of more effectively tackling data analytics and marketing reporting.
1. You Can See All Your Data Together In One Place
Company leaders use intuition, experience, and mostly data from reports to make sound decisions. When team members sporadically present leaders with an old-school spreadsheet email attachment as a report, it’s easy for executives to miss timely information and for those reports to even get lost in an inbox.
With so many advancements in data technology, it’s a shame for any company leader to have to deal with scattered reports.
That’s why executives—especially CEOs—love marketing dashboards. Marketing dashboards bring all the important metrics together into one single and personalized location that anyone on the team can access at any time. When organizational leaders can see all data points in one centralized location, data analysis and reporting is easy.
2. Helps You Create Stunning Visualizations
Every marketing agency is big on data, but not every marketer is big on interpreting raw data. In fact, if you had the right amount of perfect raw data telling you exactly what you needed to know about how to make each of your marketing campaigns successful, but no one knew how to interpret and present the data, all that spot on information would get nowhere. This is a problem that may sound all too familiar to you.
Enter marketing dashboards to save the day.
While not many people know the ins and outs of reading raw data, they do know how to read a chart, graph, or how to understand a strong visual representation of the data. Company leaders love marketing dashboards, because it’s easy to create beautiful visualizations of the data in a way that is clear to everyone on the team.
3. Allows You To Combine Multiple Data Sources
Leaders also tout marketing dashboards for their ability to combine all important data sources. With a marketing dashboard, you can combine your Excel data with hundreds of other data sources like Google Analytics, Facebook Insights, Buffer, Constant Contact, and more. Additionally, you can mix and match your data with direct connections, and even upload raw data and combine your raw data with data that already exists in your dashboard. There is little you can not do in a marketing dashboard when it comes to harnessing all of your data sources
4. Taps Into The Cloud
It’s true that spreadsheets have many helpful functions when it comes to data analytics and reporting. One area where spreadsheets lack, however, is that they don’t provide real-time data. Marketing dashboards utilize the cloud, making it possible for everyone at your agency, as well as your clients, to access data instantly. This is important for the following reasons:
- Real-time data let’s leadership know instantly if and when there is a problem, either operationally or strategically. This allows leaders to address problems immediately.
- Real-time data also helps you to keep a close eye on your competitors, allowing you to stay one step ahead of the game.
- Being able to see the data immediately sharpens the decision making processes. This often results in an increase in sales, more efficient fulfilment, and all around improved customer service.
- When you don’t have to wait for insights about customers and campaigns, you can provide insights faster. This saves organizations time and money.
- When everyone can access the same data at the same time, it helps keep everyone on the same page.
Spreadsheets may be handy tools, but when it comes to running marketing campaigns effectively, it’s hard to beat real-time data.
5. Makes Sharing Easy
Decision making, by nature, is difficult and often emotional, especially when decisions need to be approved by a string of high-level, talented, and opinionated executives. Dashboards make it possible for leaders to share data with a simple click of a button making the decision making process easier.
Being able to access shared insights takes the messiness out of the process. How? Shared data helps everyone on the leadership quickly understand and reference the data that is guiding a particular marketing decision.
6. Allows for Automated Reporting
Just think about how much time your organization spends each week on reporting. This includes collecting and analyzing data, formating, writing reports, sending reports, and reading reports. It’s probably safe to say that if you are not using an automated reporting tool, your employees collectively spend hundreds of hours on this weekly. And, it’s with good cause. After all, without reports, it’s difficult to understand how your campaigns are performing.
While reports are an essential part of the business, executives know that the less time you can actually spend on reporting, the more time you can spend on carrying out tasks that make your company more money.
Organizational leaders love marketing dashboards because they free up hundreds of hours a week through smart automated reporting features. All you have to do is set your reports up, choose your metrics, select to whom and when you want your reports to be sent, and then never worry about it again. Automation saves time, and time is money.
7. Allows Teams to Work Faster Together
Not only do marketing dashboards save time through automated reporting, but they also allow teams to work faster together in general.
When everyone on the team is able to center on one source of truth, team members can make informed decisions together that are grounded in data. This access to the same data in one centralized locations helps quickly show opportunities and identify areas where correction is needed.
As you can see, company leadership has many good reasons to prefer dashboards. Ultimately, dashboards help increase accountability, visibility, and transparency, which results in increased motivation, accuracy, and time and cost savings.