Technological advances in India, along with the rest of the business world, allow availability of factual data at the right time to initiate essential business decisions, to stay ahead of the competition and to keep up with current trends. With the ever-changing business winds, it is essential to have top class applications that make workdays a lot easier and letting business ventures sail safely through rough waters.
Business Intelligence is a tool that facilitates in the collection of a large amount of data, identification of new opportunities and provision of realistic solutions to achieve growth in a market along with providing stability. Add to this the innovative ways of Mobile, and the business world has a tool that is a winner in every way.
At the turn of the century, when mobile phone technologies in the country began to surge, analysts and development teams were quick to realize the potential in building a business development structure that can be monitored via a mobile device. Usability and performance rapidly increased with the introduction of smart phones and set the stage for developers to start developing Mobile BI applications that made a resounding impact. Recent years have seen significant changes in trends of Mobile BI.
Mobile BI tools offer several systems to monitor the performance of business operations. One of the most relevant among them, especially in today’s on-the-go business environment, is the mobile dashboard.
These 7 factors make mobile dashboards a favorable bet for the future.
1. As does the dashboard of a car in relation to a vehicle’s performance and key information, a mobile dashboard displays relevant and precise information on various metrics related to a company’s performance.
2. Working differently than a desktop-based BI, a mobile-based BI’s primary concern is to provide Key Performance Indicators (KPI) around the clock, almost anywhere and everywhere. Mobile dashboards are developed in such a way that they provide all the necessary information at the touch of a button.
3. Analytical data is extremely important in the current business scenario and to have reports at fingertips is an asset that helps in staying ahead of the competition. Offering quick and easy usage, operational performance is the highest concern for mobile dashboards.
4. Though there is a limitation in interface and functionality, the information is made relevant and is streamlined by only displaying the KPIs on the mobile screen.
5. Accessing critical information beyond the borders of the office, and when on the move, helps in making timely and well-informed business decisions. Furthermore, it provides appropriate statistical data for the workforce too, for example, when teams like those of sales representatives are constantly on the move.
6. From business alerts to other important information based on stocks, fluctuations in the business market and more, mobile dashboards are enabled with online analytical processing capabilities too.
7. From strategic dashboards that are referred to by managers for quicker decisions to analytical dashboards that are used for percolation of information through all strata of the workplace, critical data is constantly streamed in through mobile dashboards.
Key Performance Indicators (KPIs), measureable values that demonstrates the effectiveness of different facets of a business operation are surely an asset. The SMART factor fits in perfectly with KPIs as they are;
Specific – zeroing in on a specific area of the business structure
Measurable – with calculated business metrics
Assignable – to the relevant teams or departments
Realistic – in sync with the actual working of a business or market
Timely – where the metrics are in real time or related to specified time intervals
KPIs designed for mobile need to be actionable and simplify the decision-making process. Flexibility is a key factor too.
As BI in India grows, mobile BI is doing great too, simply because of the fact that almost all the key players in a business have access to a technologically advanced device today. Current trends foretell that this tool will continue to reign as a favorite business tool for most enterprises.
At Conneqt Business Solutions, our BI – Analytics and Research wing is a great partner for monitoring KPIs and keeping track of critical business metrics on the go. We help businesses gain valuable insights that help increase strategic advantages, realizing growth and stability goals.