To achieve their departmental goals and plan strategically, managers require tools and procedures for accurately tracking performance.
Many managers now employ dashboards and scorecards for aligning operations with goals.
Yet, confusion often exists as to the proper function of each.
What are the functions of operational dashboards?
Dashboards monitor and report operational metrics. They track specific numbers regarding granular tasks, giving managers an overview of departmental performance.
Dashboards consolidate and report metrics and numbers.
Very often, dashboards focus on very specific roles and provide data targeted to a single point-of-view or department.
What are the functions of operational scorecards?
Scorecards, on the other hand, look at the bigger picture. Rather than examining a single department or function, scorecards provide comprehensive reporting for numerous departments, allowing management to track progress toward strategic goals and business objectives.
Scorecards monitor and report strategic progress towards goals and objectives. Often, scorecards reflect specific managerial methodologies such as presenting data regarding finances or market share.
Scorecards include multiple points-of-view and departments
Scorecards often apply a management methodology
Although often expensive to implement and requiring significant time to roll out and optimize, dashboards and scorecards provide powerful, context-sensitive data at a glance to managers, allowing them to make well-informed decisions regarding their operations and business strategies.
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