Podcast
125 - Dashboard with Feliks
Designing dashboards have different criterias and it's different for companies or freelancers, whether they have 25 people or 1000 people. What is important is focusing on the metrics or KPIs that will drive actionable items for decision making.
This episode of SEOLeverage provides a whole new perspective into dashboards with the conversation between Gert and Feliks Golengko on the significance of actionable dashboards and reports in providing data over performance, potential areas for improvement and deeper analysis and optimization.
This is a must listen episode, especially for those who find it a challenge to use Google Analytics and other tools.
Podcast Highlights:
00:00 Prologue
00:48 Podcast INTRO
00:58 Introduction to the podcast episode topic and the guest
02:29 Feliks Golengko's journey into becoming a dashboard and data analysis specialist.
04:25 Data collection and analysis for decision-making in business (...Two components of data preparation)
06:31 Why is it important to check into dashboards? (...The importance of KPIs in business decisions and monitoring of performance.)
09:52 What does it look like to look into KPIs potential on business performance? (...How do we choose the KPIs that need to be monitored?)
13:35 How can we say that a dashboard is well-designed? (...What is the primary focus of the design process?)
17:11 Dashboards and reports are tools for decision making and monitoring to motivate on improving the business.
21:16 What is a data story? (...The two basic design principles of a dashboard.)
24:33 When should a freelancer or a company consider having a dashboard? (...What are the criteria to consider?)
27:27 The challenges with relying mostly on Google Analytics, but not really choosing the right metrics or KPIs.
35:08 Felik's three major steps for businesses regardless of size when looking into dashboards and hiring an expert.
38:15 Felik's offer for free dashboard design sessions per month for SMEs, in exchange for case studies.
39:27 End
Connect with Feliks Golenko:
Website - MultiBase GmbH - https://multibase.de/eng/
LinkedIn - https://www.linkedin.com/in/feliks-golenko/
Connect with Gert Mellak:
Website: https://seoleverage.com/
Email: [email protected]
Dashboard with Feliks Golenko
A well-designed dashboard provides transparency over performance and highlights areas requiring attention. This enables users to take appropriate action.
In this episode, Feliks Golenko shares his expertise in creating effective dashboards to help data-driven business decision-making. Understanding the usage and development of dashboards allows businesses to maximize their data.
With practical tips, you'll learn to transform raw data into actionable insights.
Table of Contents
How to Create a Data Warehouse
Businesses contend with a growing problem: managing data scattered across many online platforms. This includes familiar tools like Google Analytics and Search Console, as well as e-commerce platforms like CRM systems. Golenko agrees that even more complex Enterprise Resource Planning (ERP) systems can add to the data sprawl.
To address this challenge, Golenko proposes creating a data warehouse. He outlines the two main components required when setting up a data warehouse. These are data storage and ETL (extraction, transformation, loading) processes.
Here’s the process:
- First, choose the appropriate data storage solution. It ensures secure storage of large volumes of historical data.
- Second, executing ETL processes. These involve extracting necessary data from original sources and converting it into usable formats.
- Finally, it is loaded into the desired database structure.
Once completed, reporting tools can access this centralized data to generate informative visualizations. These resources help companies make more educated decisions by leveraging combined insights.
Why Dashboard Matters?
Dashboards and reports are important for businesses managing data from many sources. While some might rely on checking individual platforms, it’s still best to have a consolidated view for data-driven decisions.
For Golenko, spreadsheets can be used anytime in business. But, well-designed dashboards are superior for presenting key performance indicators (KPIs) and metrics. It is in a way that facilitates faster and better decision-making.
KPIs are actionable because they allow you to track performance and identify areas for improvement. This focus on analytics can lead to a significant return on investment (ROI). However, if your company lacks proper data analysis, it may lose significant money.
How Dashboards Can Contextualize KPI Performance
In business, selecting the appropriate KPIs to track business performance is important. Financial metrics like revenue and profit are crucial, but they reflect what's already happened.
Feliks offers three ways to make KPIs more insightful:
- Track trends over time. See if the KPI is improving, staying the same, or declining.
- Compare to targets. See if the KPI is meeting goals or exceeding expectations.
- Identify correlations. Look for relationships between different KPIs to understand how changes in one area might affect another.
With these factors, businesses can choose the most relevant KPIs to track and make informed improvements.
Essential Elements of an Action-Oriented Dashboard Design
Feliks says that well-designed dashboards should be tailored to the specific needs of the decision-maker and the situation.
First, you need to understand what kind of decisions are being made and how often. Daily decisions require different information than monthly reviews. Then, you can design a dashboard that answers the specific questions that arise in those situations.
Gert describes an internal dashboard they use to track client SEO progress. This dashboard includes KPIs like conversions, traffic, and implementation. SEOLeverage uses a color coding system (red, yellow, green) to highlight areas that need attention. Moreover, strategists use this dashboard to discuss client progress and make informed decisions.
Feliks agrees that dashboards should be used for decision-making, not magic solutions. He mentions that dashboards can also be used to monitor the impact of decisions that have already been made. This allows you to see if your decisions are working and to course-correct if necessary.
Lastly, it’s also important to consider the need for comparison over time. Feliks mentions a client who was proud of a 124% metric but failed to consider the declining trend from previous weeks. He emphasizes that isolated numbers provide limited insights, and comparisons across a timeline are essential.
What is a Data Story?
Data stories consist of sequenced dashboards and reports presenting vital KPIs and metrics. Here's the breakdown:
- Overview Dashboard. This initial dashboard displays 5-7 key metrics (KPIs) over a specific timeframe (monthly or quarterly). It is designed to identify potential issues.
- Drill-Down. Users can explore that specific KPI in more detail through additional reports or dashboards if a red flag appears in the overview.
This step-by-step approach creates a data story that leads users to actionable decisions. Gert Mellak confirms this aligns with their current practices. They use a similar method where they investigate conversion drops by diving deeper into specific pages and traffic sources.
Additionally, Feliks emphasizes two key design principles:
- Not One Dashboard for Everyone
- Not Everything on One Dashboard
By following these principles, data stories can be tailored to specific user needs. It allows them to find the information they need to make informed decisions efficiently.
Should You Determine Company Size for Adopting Dashboards?
Feliks argues that company size isn't the deciding factor. Instead, the need for dashboards arises when dealing with "many" - many customers, products, data sources, etc. Good reporting and dashboards can benefit you if "many" applies to any aspect of your business.
He added that it's not for big companies. There’s a client with only 25 people but managing hundreds of products across many countries. Spreadsheets wouldn't suffice for them to track everything.
Additionally, collecting data isn't enough. It’s important to transform data into actionable insights. Platforms like Google Analytics are great at collecting data, but their reporting is often. These platforms might offer basic reports, but they often fall short of providing clear insights that lead to concrete actions.
Gert mentions clients who could see what gets traffic but not what doesn't. Dashboards can be designed to reveal areas needing improvement, like hidden underperforming pages.
Why Collaborate With Dashboard Experts
Having good data dashboards and reports can improve business decision-making. Feliks explains the general process his company uses, which involves three main steps:
- Designing dashboards and reports
- Preparing and collecting data from various sources
- Developing visualizations using a BI tool
The return on investment (ROI) is crucial when considering cost. So, it’s best to consider whether implementing such tools could improve your business operations.
Feliks shares that his company will launch a campaign offering a free design session for one dashboard or report. This allows them to gain valuable insights while providing examples of dashboards used in the SME space.
To be eligible, business owners need to share background information with the company for a consultation. This is a chance to get a professional design and improve an existing dashboard/report. In exchange for the free design, the company will use the project as a case study in exchange for the free design.
Final Thoughts
Dashboards can help businesses use data to make better decisions. Additionally, data warehouses can be used to store and organize data from multiple sources.Well-designed dashboards should be tailored to the specific needs. Moreover, if you want a free design session for one dashboard/report for SMEs, consider MultiBase.