A dashboard is a single screen of information that shows a quick picture of your company's operations. You can use an excel dashboard to track your key business statistics like cash flow, sales trends, milestones and many others. The dashboard converts raw, isolated data into actionable information by converting the reports and spreadsheets into charts and graphs.
What Is an Excel Dashboard?
Excel provides the best tool for creating any form of executive reporting. It is fast, flexible and a cost effective implementation or prototyping. The excel dashboard works as the perfect excel learning tool. Its flexibility allows you to design any dashboard exactly the way you want.
Instead of sending physical documents or bulky slide shows via e-mails, you can send a streamlined version of your dashboard to your client or investor. It will impress them in more than one ways. The dashboards are critical to the company because they can provide the reader with insight quicklier than any other reporting method.
Points to Remember
Before you begin designing your own dashboard, it is important to go over three major areas that are vital for the final product.
- how to get the data into the spreadsheets
- how to manage the data and link it to the otherdashboard objects like charts and tables
- How to design the dashboard report
Benefits of Using the Excel Dashboard
- Faster and in-depth insight: It is easier to comprehend what you can see. The charts are faster to understand than the numbers. Using the excel dashboards, you can see the entire pattern of performance in one or two figures, making it easier to understand and remember for longer. It is a major time saver. The excel dashboards help do away with all the problems of reports and analyses by creating reports that are more comprehensive and context-rich. It is easier to find a pattern by comparing charts.
- Report data from any source: The large companies may have expensive systems to support their data warehouses, but they have their limitations. With the help of excel dashboards, you can get any data into your spreadsheet from any source, as long as it is available electronically.
- Faster mobility and lower reporting costs: The time consuming process of collating data from different sources and then processing them in the context required can be done away with, with the help of the dashboards. Also, the expenditure on purchase, maintenance, learning and using the expensive commercial business reporting software can be drastically cut down since the excel reporting and analysis is free.
The excel dashboard allows you to compare different measures of the same entity and the same measures for different entities, helping you learn significantly about the relative performance of those entities. And, you can get more insight more quickly without going through columns of numbers.