Dashboards are trending in market research.
Market research dashboards provide a simplified summary of data. The goal of a market research dashboard is to present important data that is easy for the reader to understand.
There are several tools available to create a market research dashboard. Common tools are PowerPoint, graphic design applications (i.e., InDesign, Canva, etc.), and services provided by survey software companies.
Depending on the type of study and needs of the client, different tools may be used. Whether the dashboard is complex or simple, the goal of the the market research dashboard stays the same.
Wondering how to create a market research dashboard? We've got you covered.
How to set up a market research dashboard?
When setting up a market research dashboard, the goal is to let the reader know what metrics have been measured, what data has been collected, and what the key changes are.
In the example pictured above, key performance indicators (KPIs) are listed to the left, data from yearly studies are summarized in the middle, and changes from the latest data to the prior year's data is listed to the right. Every dashboard is adjusted to meet the needs of each client.
Here's an example of an interactive dashboard. This dashboard allows the viewer to segment and filter data as needed. Also, since the dashboard is hosted online, data can be easily updated as more is collected.
The look and feel this second dashboard example is similar to an infographic rather than a chart like the first example. For some clients, a more complex dashboard needed while others will find a simple dashboard the best fit.
What metrics to track in a market research dashboard?
Metrics to include in a market research dashboard depend on the study and objectives of the research. Market research dashboards may include KPIs tracked over time like the example pictured above or other important data that has been collected.
A few KPIs to consider featuring on a market research dashboard include awareness, customer satisfaction, net promoter score (NPS), customer effort score, likelihood to switch, and perception score.
Wondering what KPIs your business should be measuring? Here are 6 KPIs every business should measure.
What comparison columns should be included in a market research dashboard?
Many market research dashboards include comparison columns. The featured columns will depend on the objectives of the research, however it may include prior survey results, results for key competitors tested in the research, and key differences in the results.
In the example pictured above, the comparison columns include yearly KPI survey results and the change in scores from the current year and the year prior. This lets the reader quickly identify areas of success and opportunity.
What are the benefits of a market research dashboard?
Rather than explaining the results of market research through an executive summary or several data charts, a dashboard is a graphical way for the reader to understand highlights of a market research study.
The goal of a market research dashboard is to make the data gathered as easy to understand as possible. A market research report typically includes an executive summary and data charts to provide in-depth results and findings. Unlike these two pieces, a market research dashboard can be viewed and understood at a glance.
A market research dashboard is also great for clients who want to share highlights of a market research report without sending colleagues the full report. Oftentimes, sharing an entire research report is too cumbersome and confusing to share.
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