Dashboards, Data, and…Donuts?
Graphic designed by Hannah Wirth
Data dashboards consolidate information into “at a glance” views on a computer screen, leading to data-driven decision-making. Dashboards can be designed specifically to address a business’s unique needs.
Imagine the scenario of waiting in line at a local coffee shop on Friday morning. Customers placing their orders are told that the chocolate glazed donuts are already sold out for the day. How disappointing is that? Although plain donuts are still available, most customers choose to only purchase their usual latte.
In this scenario, a dashboard can provide data insights for the coffee shop such as:
Demand Analysis: By analyzing historical sales data, a dashboard can calculate the average number of chocolate glazed donuts sold on Friday. Anticipating daily demand allows the coffee shop to increase production when necessary.
Sales Insights: Using simple calculation metrics, a dashboard can display the disparity in sales between chocolate glazed and plain donuts. Determining which products are more popular identifies opportunities for improved resource allocation.
Profit Margin: By combining sales and costs of production data, a dashboard can automatically calculate the profit margins associated with selling chocolate glazed donuts. Instant profit calculations offer insights into the revenue-generating potential of particular products.
By using the data insights generated by a dashboard, the coffee shop can make data-driven decisions that result in:
Increased Revenue: Understanding the sales patterns of chocolate glazed donuts allows the coffee shop to anticipate demand surges and capitalize on revenue-generating opportunities.
Improved Customer Satisfaction: Ensuring consistent availability of customers’ favorite products develops a loyal and satisfied customer base.
In summary, a tailored dashboard helps businesses make data-driven decisions that develop valuable revenue streams and improve customer satisfaction. Lattes and donuts for all!
Written by Hannah Wirth
Edited by Laura Wirth