In this article, we’ll discuss what you need to know in terms of feature and functionality offerings in today’s business user friendly retail dashboard solutions for your Microsoft Dynamics NAV experience.
It shouldn’t be surprising to you that dashboards are #1 in the Business Intelligence (BI) marketplace today. Gartner’s 2013 study on Financial Executive International CFO technology returned results which concluded that dashboards, scorecards, and performance management solutions are at the top of the list of technology priorities for executives today. The retail business world is moving fasting than ever and dashboards offer professionals easy-to-understand and quickly accessible analyses. More specifically, dashboards are charts, graphs, and scorecards that demonstrate the successes, challenges, and trajectories using your data and key performance indicators (KPIs), whether you are zooming in on a store, region, product, division or the entire organization.
Much like the vehicular dashboards we are use to looking at in our daily lives, company decision-makers can analyze transactional and operational data trends by reviewing a data visualization. The main differentiation between a dashboard you find in a car and one you can design for your retail business is that BI data visualizations are made for interaction, so you can adjust and interpret for specific information that can aid in directional decision-making. You can rely on drill-to and drill-down features to make sure that you understand what makes up your visualizations – and how that affects the future for your company. I could go on and on, but I think we’ve established the power of data visualizations as prevalent and powerful software, so let’s move on to how you can leverage the technology for your retail company, specifically in terms of improving your Microsoft Dynamics NAV experience.
First of all, you can pull information from diverse sources with today’s data visualizations. You can create real-time dashboards with a direct integration from Microsoft Dynamics NAV, a Point of Sale (POS) system, and other data sources. This translates to very up-to-date analytics, which is important to those who rely on live data – and/or smaller organizations that just need basic accounting system dashboards, without the resources to maintain a BI database, like an online analytical processing (OLAP) cube or a data warehouse. However, larger corporations usually require more stability and a high performance than a BI data store can provide data visualizations.
An OLAP cube or a data warehouse integration allows bigger companies to craft dashboards without slowing down the accounting system (or other data source) server because of significant and/or simultaneous data queries. You are avoiding a sluggish Dynamics NAV server, but you do have to make the additional investment in your cube or warehouse, and you’ll be replicating your data to the BI data store first. There are also some data visualization tools that offer you the hybridity of deciding between a live integration for more urgent deadlines requiring real-time information like Point of Purchase – and querying your data from a BI data store for more regular dashboards, like Customer Retention. And this flexibility won’t break the bank either. And there’s plenty more to think about when looking for the best tool to meet your retail analytical goals.
To continue learning more retail dashboards for Microsoft Dynamics NAV customers, read the rest of this article here.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.