Many organizations are not sure whether they should deploy dashboards or scorecards to aid corporate performance management initiatives. If you are not a digital marketer then you might not even know what an SEM dashboard or scorecard is, let alone how they can help you manage your website’s performance. In this blog post we will: define what dashboards and scorecards are and show you how to use them effectively to track web metrics and KPIs.
A dashboard is a metric reporting mechanism that collects and displays metrics and key performance indicators (KPIs) enabling users to quickly monitor and track performance.
A scorecard is a tool that helps organizations measure and align the strategic and tactical aspects of their businesses and processes via goals and targets. Scorecards require a more structured approach and framework than a dashboard making use of a methodology such as Balanced Scorecard (BSC), European Foundation for Quality Management (EFQM) or Six Sigma.
The best-known scorecard methodology is the Kaplan and Norton “balanced scorecard” which is based on the premise that an organization needs to “balance” the financial perspectives of performance with non-financial perspectives.
When are dashboards and scorecards typically used?
Dashboards and scorecards are useful deployment tools that can deliver key summarized information to large user communities. Choosing to deploy a dashboard or a scorecard is really a question of degree of effort, the specific business need and also the level of maturity of the approach to performance management.
For example, if you decide to design and implement a dashboard, it is likely to cost less and can be implemented more quickly than a scorecard. However, the dashboard will not provide the same insight and therefore will provide less business benefit.
Often considered the poor relation to a scorecard, a dashboard will offer value if care is taken to choose the right metrics and effort is expended to ensure the right information is available in terms of quality and consistency. Because dashboards do not follow a strict methodology, they are more flexible, quicker and easier to deploy.
The implementation of a (balanced) scorecard is a more significant undertaking. To benefit fully from a scorecard implementation, the organization needs to identify those KPIs that have a real impact. Further, it is imperative to link KPIs to their strategic objectives.
A scorecard requires an organization to come to a common agreement on the definition and representation of many significant measures and align them with business processes. Scorecards are a valuable method of communicating strategic plans and linking these overall objectives.
Bottom line: Tracking Web Metrics & KPIs is Important!
In order to always be improving your marketing strategy you must come up with ways to measure your website’s performance, regardless of whether you decide to use either a dashboard or scorecard or both!
Do you need help deciding between scorecard or dashboard or identifying the right metrics and KPIs for your business? Give us a call at 866-871-5464 or drop as an email at email@example.com today.