By 2025, the global last mile delivery market is estimated to reach $61,573 million, up from $31,198 million in 2018, according to a press release by MarketWatch. An increase in the demand for efficient delivery, along with rapid growth in the logistics industry, is the key factor behind these figures. Last mile delivery aims at customer satisfaction, without raising costs significantly for the courier company.
A few challenges faced by courier companies today are high costs, delayed deliveries and inability to provide real time updates. To gain a cutting edge over the competition, it is crucial to have efficient tools, such as an analytics dashboard.
What is an Analytics Dashboard?
An analytic dashboard lets you keep track of the overall performance of your business. In fact, 41% organizations say that they believe a visual representation of the data is the right approach to understanding the huge volumes of information. It also eases the process of separating useful data from outdated ones. An analytics dashboard helps to bring down humongous data into manageable formats, such as tables, graphs and charts, so that users can get a quick look at all the necessary information in one place.
How Useful is the Analytics Dashboard?
This dashboard can tell you if traffic is normal, whether sales have increased and if your new marketing campaign is working, according to experts at Mixpanel. It also helps to keep you updated on real time information, like processing, receiving and delivery reports. This is important, since a delay of few hours can render information useless. The company is able to act immediately when an issue is detected, before it spirals into something larger.
Apart from this, a dashboard helps manage large scale data, including shipments, returns, dispatches and contact details of customers. Coming from different sources, it is often impossible to manage so much data. This incredible amount of data is organized professionally, leading to smoother business operations.
Actionable information is crucial for business success. An analytics dashboard can help provide relevant information for prompt decision making.