Here is a good definition a friend sent to me.
Dashboards Monitor and Measure Processes. The common industry perception is that a dashboard is more real-time in nature, like an automobile dashboard that lets drivers check their current speed, fuel level, and engine temperature at a glance. It follows that a dashboard is linked directly to systems that capture events as they happen and it warns users through alerts or exception notifications when performance against any number of metrics deviates from the norm.
Scorecards Chart Progress Toward Objectives. The common perception of a scorecard, on the other hand, is that it displays periodic snapshots of performance associated with an organization’s strategic objectives and plans. It measures business activity at a summary level against predefined targets to see if performance is within acceptable ranges. Its selection of key performance indicators helps executives communicate strategy and focuses users on the highest priority tasks required to execute plans.
Whereas a dashboard informs users what they are doing, a scorecard tells them how well they are doing. In other words, a dashboard records performance while a scorecard charts progress. In short, a dashboard is a performance monitoring system, whereas a scorecard is a performance management system.
With the launch of Atlas Insights, we created a MOBILEFIRST experience for managing the performance of your business utilizing scorecard concepts and indicators. Now you can move your business forward with data instead of looking at it in the past.
Here’s the deal, ask ANY leader in your company which metrics are important to them and I bet they may say about 7 to 10 metrics and they are known metrics that have been around for years. Yep, that is it. Why? Because that is the heartbeat of the business that is important to them and their department. Also, the best thing about defining and labeling your KPIs is that your business logic is contained in that metric that everyone can now trust the source. Try to do that with some random bar chart someone created in a self-serve analytic tool.
Visit http://www.AtlasBI.com, download our app and try our app for FREE with a 3 month subscription just for signing up.