Scorecards are similar to Dashboards in a way that it provides easy-to-understand, summarized, at-a-glance data for the managers and top officials to tell them about their company’s present and past performance. Scorecards thus help to monitor the Key Performance Indicators accurately and to communicate the goals and strategies across the organization in an efficient and elegant manner. In a Business Intelligence environment, Scorecards allows managers to set metrics or targets and monitor them to see their impact on every department.
A methodology created by Dr. Robert S. Kaplan and David P. Norton in 1992, is a management concept which helps managers at all levels monitor results in their key areas, including financial performance, customer knowledge, internal business processes and learning. It has been implemented in thousands of corporations, organizations and government agencies worldwide.