Whereas a dashboard informs users what they are doing, a scorecard tells them how well they are doing. In other words, a dashboard records performance while a scorecard charts progress. In short, a dashboard is a performance monitoring system, whereas a scorecard is a performance management system.
Scorecards offer organizations a snapshot of their current performance when compared to their goals. They are useful tools for organizations which need to manage performance and make strategic decisions better based on the distance between current performance and the goal. As such, scorecards present a more static view of an organization at a point in time rather than a dynamic hub to monitor success.
Scorecards are most commonly used to track KPIs, as they focus on both the current status of the metric being tracked and the target value. However, scorecards aren’t live, so data is not updated in real-time. Instead, scorecards serve to monitor strategic goals relative to KPIs and to make decisions on a larger scale.
- one level above dashboards
- align operational execution with business strategy
- align and compare against goals
- scorecard displays information at the highest level of decision making
- scorecard measure against goals
- maintaining alignment to corporate objectives
- review with less frequently, usually monthly
- monitor and communicating strategy
- align with mission, vision, and values
- Proactive and analytical
Balanced Scorecard Perspective
- Financial – revenue
- Learning and Growth – organization to keep on improving, future success
- Customer – how it is viewed by customers
- Internal Business Processes – internal operations goals