What is the Difference Between Dashboard and Scorecard?

Dashboards and scorecards are both performance monitoring tools used in business intelligence, but they serve different purposes and have distinct characteristics. Here are the main differences between the two:

Dashboards:

• Focus on real-time performance monitoring and operational decisions.
• Provide a broad way to track strategic goals and measure a company's overall efficiency.
• Typically used by low and middle-level management for everyday decisions.
• Offer intelligent alarm systems that track data in real-time.
• Main measurement tool is the included metrics.

Scorecards:

• Focus on performance management and aligning strategy with objectives.
• Provide a concise view of specific areas, such as marketing KPIs or a specific team's tasks.
• Typically used by top-level management for strategic planning.
• Update data occasionally (daily, weekly, or monthly).
• Combine both metrics and target values as the main measurement tool.

In summary, dashboards are better suited for monitoring performance in real-time and supporting operational decisions, while scorecards excel at managing performance over a specific time frame and aligning strategy with objectives. It is possible to use both tools together to get a comprehensive view of day-to-day activities and align tactical decisions with long-term goals.

Comparative Table: Dashboard vs Scorecard

Here is a table comparing the differences between dashboards and scorecards:

Dashboards and scorecards both track performance, but they serve different purposes and have distinct characteristics. Dashboards excel at monitoring performance in real-time, while scorecards serve as goal management tools and measure progress towards predefined targets. Combining both methods can help organizations view day-to-day activities and align tactical decisions with strategic goals.