A robust dashboard can be invaluable to a CEO if it’s created with actionable insights in mind.
Big Squid has presented hundreds of dashboard solutions to CEOs from all kinds of organizations, and yes, there is a general unifying theme to their requirements and key questions—growth, profit, period over period deltas, and company culture.
Let’s examine growth; how does a CEO define it? It is a combination of factors—company size, sales and marketing growth in comparison with a previous period, Marginal Profit over time, forecasts, and employee sentiment over time.
Once you understand how a CEO defines growth, it’s not a complicated task to help him or her determine whether or not he or she is winning or losing in terms of these key growth metrics.
Because different verticals measure sales and revenue differently, we’ll focus on two of the most common scenarios today—software and retail—and we’ll showcase key visualizations for both business models, and the questions that can be answered with these visualizations.
Visualization #1: Sales (ACV) and Marketing Growth (Rolling 13 months, this year vs. last year by month)
This helps us understand how marketing correlates to ACV growth—what’s the lag on ACV increases to market spend increases? Is my marketing effort worth growing without a strong correlation to ACV?
Visualization #2: Net Income vs. Cash Balance + Forecast
This option visualizes how month to month or quarter to quarter net income interacts with company cash balances, and basically helps you see how much cash is on hand, how is this case trending, and how will forecasted monthly or quarterly losses impact the cash.
Visualization #3: Customer Retention Rate (Rolling 13 month Year over Year)
In software, customer retention in a SAAS model is critical for company growth. Understanding seasonality of retention as well as a retention trend can drive action in a client services organization.
You can see how customer retention is trending, if there is any form of seasonality to retention, and how you’re performing against your targets.
Visualization #4: Company Size
In growing companies, it can be difficult to keep track of how many employees are on staff, let alone understand what departments are increasing headcount. Using this, you can clearly determine exactly how many employees you have, what departments are growing the fastest, and conversely, what departments are shrinking.
Visualization #5: Employee Sentiment
Increasingly, company cultures are driving company growth. It’s competitive out there, and there’s a race for talent in any marketplace. Without a pulse on company culture and how employees feel about coming to work, an organization is sure to lose the race towards innovation and profitability. You can truly learn how happy your employees really are, in which direction is happiness trending, and if there are any departments that are perhaps struggling in these regards.
Visualization #1: Sales and Marketing Growth (Rolling 13 months, this year vs. last year by month)
This visualization gives us a deeper insight into how marketing spend relates to sales—what’s the lag on sales increases to marketing spend increases? Is your marketing effort growing without a strong correlation to revenue? What is the overall Cost as Percent of Revenue this month, and against your target?
Visualization #2: Top Marketing Channels by Marginal Revenue & ROI
In retail, it takes money to make money. Understanding what marketing spend is the most effective is critical to increasing margins and driving Net Income. You can determine your top performing channel (highest volume of Marginal Revenue), what channels are driving the highest ROI, and where should you consider cutting advertising dollars.
The next few visualizations are identical to those mentioned above in software:
Visualizations #3-5: Net Income vs. Cash Balance + Forecast, Company Size, and Employee Sentiment
Accessing answers to your business questions can be a breeze with the right visual display, and Domo Data Visualizations make that easily achievable. From anywhere in the world with connectivity, CEOs simply open the app, buzz their team, and drive business results without waiting for a monthly or quarterly review.
To learn how you can utilize Domo in your business, please visit us today at Big Squid, and it will be our pleasure to help you get started.