Experts predict that by 2025, around 175 Zettabytes of data will be generated annually, according to research from Seagate. Moreover, within just five years, the number of smart connected devices in the world will amount to more than 22 billion – all of which will produce colossal sets of collectible, curatable, and analyzable data, claimed IoT Analytics in their industry report.

What does this mean? Essentially, it means that we are living in a world rich with data, and for businesses looking to streamline their processes, monitor various areas of performance, and understand their customer base on a deeper, more personal level, collecting, analyzing, and leveraging this wealth of insights is critical for success.

But with so much data available from an ever-growing range of sources, how do you make sense of this information – and how do you extract value from it? One of the most effective means of doing this is by utilizing KPI reporting tools.

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The rise of innovative, interactive, data-driven dashboard tools has made creating effective dashboards – like the one featured above – swift, simple, and accessible to today’s forward-thinking businesses.

In the digital age, there’s little need for a department of IT technicians, plus a qualified graphic designer, to create a dazzling data dashboard. However, if you want to enjoy optimal success, gaining a firm grasp of logical judgment and strategic thinking is essential – especially regarding dashboard design principles.

Dashboard design should be the cherry on top of your business intelligence (BI) project.

At this point, you have already tackled the biggest chunk of the work – collecting data, cleaning it, consolidating different data sources, and creating a mix of useful metrics. Now, it’s time for the fun part.

Here, you can get carried away by your creativity and design a pretty, dazzling, colorful dashboard.

Unfortunately, you can’t play around with it like the next Picasso. There are certain dashboard design best practices you should follow to display your data in the best way, making it easy to analyze and actionable.

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In a hyper-connected digital world driven by data, there has never been a better time for businesses to gather meaningful insights on their target prospects, in addition to measuring ongoing levels of commercial growth and performance.

The modern consumer, or digital native, craves a significant level of value from the brands in which they’re looking to invest – and as such, to gain consumer loyalty, businesses must reach out and talk to their customers on a personal level. Social platforms provide some of the most powerful, as well as sustainable, mediums on which to do so.

In fact, LinkedIn boasts over 530 million user profiles to date. According to research conducted by the Pew Research Center, 75% of male internet users actively use Facebook, as well as 83% of female internet users. And that’s just the tip of the social media iceberg.

The take-home here is that social platforms are widely used and are one of the most powerful mediums for sparking up personal, meaningful, and enduring human dialogues with your target audience. But how do you squeeze the most value from your various efforts? With social media KPIs, of course.

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“The only safe ship in a storm is leadership.” – Faye Wattleton

For any business to succeed, it needs purpose, direction, and the resources to grow as well as adapt to the landscape surrounding it – which is why strong leadership is essential.

As a CEO, you’re responsible for overseeing every aspect of your business, from the people and the internal culture all the way through to key sales, marketing, and financial strategies. While your organization is no doubt brimming with the kind of talent that can drive every aspect of your organization forward, ultimately, the success of the company rests on your shoulders.

Compassion and people skills aside, every strong business leader needs the vision to be the best they can be. And to gain greater vision, you need to embrace the power of digital data.

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Regardless of your sector or industry, it’s likely that your financial department is the beating heart of your entire operation. Without financial fluency, it’s difficult for an organization to thrive, which means that keeping your monetary affairs in order is essential.

As a business, you need the reliability of frequent financial reports to gain a better grasp of your financial status, both current and future. In addition to empowering you to take a proactive approach concerning the management of your company’s finances, financial reports help assist in increasing long-term profitability through short-term financial statements.

A robust finance report communicates crucial financial information that covers a specified period through daily, weekly, and monthly financial reports. These are powerful tools that you can apply to increase internal business performance. A data-driven finance report is also an effective means of remaining updated with any significant progress or changes in the status of your finances, and help you measure your financial results, cash flow, and financial position.

Here, we will look at these kinds of reports in greater detail, delving into daily and weekly reports, but focusing mainly on monthly financial reports and examples you can use for creating your own statements and reports, which we will present and explain later in the article alongside their relevance in today’s fast-paced, hyper-connected business world.

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