Digital dashboards are business management tools that visually give the position or status of the business using the core indicators of that same business. They display data from various business departments to give the bests decisions that the business venture should follow. There are three types available in the markets; stand alone software applications, web-browser based applications, and desktop widgets. They are responsible for tracking business functions e.g. hiring, sales, security, technology, among others. Management cockpits are places where business management makes decisions and offers solutions for effective management of the business.
They link strategy and objectives to operations and execution. The capabilities of digital dashboards is that they help in visualizing the performance of the business, they help managers identify and give solutions to negative trends, they measure efficiency and inefficiencies of the business and generate reports which are detailed on business trends. In addition, the management is able to offer informed decisions, they help in saving precious time in going through volumes of reports, and they help to get a visual representation with a glance.
Management cockpits are helpful in that they help the company to have a well detailed set of performance measures from the strategy and vision of the business, give a new business model which helps in executing the strategy, help businesses focus on faster and better decisions, it give warnings and consequences, give a better understanding of the business and facilitate transparency and high performance.
Global information systems (GIS) and global positioning systems (GPS) are used to expand the information tool kit available to managers so that the information is transmitted to the whole world and hence making the management of many branches possible. This helps the business establish in less dominated markets and have view of the areas that business is making progress. The information is important in making decisions regarding the company’s progress.