When you hear people talk about data visualization you often hear the terms “dashboard” and “report” used interchangeably — but is this correct? Are they interchangeable terms? The short answer is no. They are actually quite different in how they display information and data: but to put it simply, dashboards offer dynamic information; reports offer static data.
Business data programs can be full of new and confusing terms, especially if you’re just getting started, and often, many of them sound like they could be the same thing. So what is “business data'' and how do you use it to get the most from your efforts in working with data? Not only is it essential to understand data to help you interpret, track, and measure what is most essential to growing your business, but learning how to use it lends itself to greater profitability.
We’ve compiled some of the data terms you’re likely to come across and examined how they can be applied to support your business’s growth goals.
