Which Dashboard should you use?
In the world of data and statistics, we have a framework called "Bite, Snack, Meal". The idea is that you only want to provide the end user with the amount of data that they can easily digest.
- The Bite is a the smallest piece of information or highlight, like the median price metric for a single month.
- The Snack adds more detailed information, like a 13 month trend line.
- The Meal is the whole shebang.
When you're trying to decide which dashboard to use, there are a couple of things to think about.
- Consider your client or end user, and how much information you think they need and can handle. For example, my mother would only care about the median price in her neighborhood last month, and maybe if that was up or down from the prior month. My husband, on the other hand, would want all the charts and tables of numbers that you could provide and then some.
- Consider your comfort level in using and explaining the dashboards. For example, if you don't understand Absorption Rate well enough to explain it to your client, you probably shouldn't show a chart of that to your client. Pick a dashboard or charts that you're comfortable with, and then take a note to spend time learning the other dashboards for next time :-)
Here's a quick chart to help you decide which dashboard to use if you still aren't sure. Remember, all dashboards can be printed to paper/PDF and then shared as needed.
| | | | |
•Bite
•High-level
one month summary
•Made for sharing / Public
| •Snack
•13
month trends
•Made for sharing / Public
| •Snack
•Quickly
identify current trend
•Drill-through to listing data
•Use
with Caution since weekly data is more volatile & subject to change than monthly data. | •Meal
•Most
flexible
•Most
customizable
•Most metrics and charts
•Longest history
•Drill-through to listing data
| •Meal
•Supports
pricing a listing
•Use
with buyers & sellers
|
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