How to Create a User-Friendly Excel Dashboard

Introduction

Excel dashboards are a powerful and efficient way to gain insights into the performance of your business. They enable you to display data from multiple sources, in one centralized place, helping you to quickly make decisions, track key performance indicators (KPIs) and monitor trends.

An Excel dashboard typically consists of a data model constructed with formulas, charts, slicers, and other visualization tools. As a result, they allow managers to analyze and review data in real-time without having to crunch numbers or creating lengthy reports. The use of excellent dashboards can help you gain a clear understanding of your business and improve operations.

Benefits of Implementing a Dashboard

• Easy to use: With Excel dashboards, the data and key performance indicators (KPIs) you need are readily available in one place.
• Detailed and comprehensive: You have all the information you need in one place, allowing you to quickly make decisions and identify potential problems or opportunities.
• Real-time insights: Excel dashboards show you the current state of your business as well as any future trends.
• Customizable: You can customize your dashboard to fit your specific needs, allowing you to track the KPIs that are most important for your business.

Selecting the Data Source

When setting up a Excel dashboard to monitor your business, you will need to decide what type of data you will be using. This is perhaps the most important step in the process, so it’s essential to give some thought to the categories and sources of data that you wish to leverage.

Deciding What Information is Important

When deciding on the data you wish to use, start by thinking about what will be most useful in providing insights into the performance of your business. This should be tailored to the specific goals of your business, as well as the type of data that can be realistically collected. Common sources of data for Excel dashboards might include sales data, customer service interactions, operational performance, project management updates, or financial reports.

Ways to Gather That Data

Once you have identified the types of data to use, you will need to access it. There are many potential sources of data - some more accurate than others. Generally speaking, the most reliable sources are those that are automated and generate data in real time, such as CRM systems. Manual sourcing of data is also possible, but should be avoided unless absolutely necessary.

• Automated Data Sources: CRM systems, operational systems, project management tools
• Manual Data Sources: Excel sheets, surveys, reports

Creating the Dashboard

Once you have identified which information will be included in your dashboard, it’s time to begin building the actual dashboard. During this design process, you’ll need to focus on how you want the information to be structured and how it will be presented. There are many Excel features that you should consider when creating an effective dashboard.

Begin the Design Process

When starting to design your dashboard, you should determine how you want to display the data. This includes deciding what objects should be used and which colors will be most effective. You also need to decide which information will be visible at all times and which information will be accessible by clicking a button or link. Knowing what you want the dashboard to look like will help make the building process easier and faster.

Excel Features to Use

Excel offers many features that can be used to create powerful and useful dashboards. One of the most useful features is the ability to link data within the workbook or with external sources. You can also create charts and tables to help visualize the data, and you can customize how the dashboard looks with special formatting. Excel also offers powerful functions that can be used to analyze the data.

Visual Features to Consider

In addition to analyzing the data from a technical perspective, you also want to ensure that the dashboard is visually appealing. One way to do this is to use colors that are aesthetically pleasing and easy to read. You can also use icons or images to help draw attention to key elements in the dashboard. Finally, you should consider how the dashboard will be displayed. The dashboard should be optimized for whatever type of device it will be viewed on, such as a laptop, tablet, or smartphone.

By taking the time to design an effective Excel dashboard, you can easily monitor your business and make better decisions as a result.

Configuring the Dashboard

Creating and customizing a dashboard in Excel is the key to any successful business monitoring. Dashboards ensure that all key performance indicators (KPIs) are easy to access and read. To ensure that your dashboard is accurate and efficient, configuring it the right way is a must.

Tailor the Visual Features for a Seamless Look

The first step to creating an effective dashboard is customizing the visual elements. You can customize these elements in several ways, such as colors, fonts, and various graphical elements. By doing this, your dashboard will have a clean and organized look. This ensures that your viewers will be able to immediately focus on the most relevant data.

Set Up the Data Source

In order to give your dashboard a consistent look and accurate data, it is important to set up the data sources correctly. This can be done by manually entering data or importing data from a variety of external sources, such as Salesforce, Marketo, Google Sheets, and more. This allows you to display the most recent data and update your dashboard regularly.

Configure the Display Settings

The last step in setting up your dashboard is to configure the display settings. This includes setting the size for the dashboard, selecting the preferred chart types, and other visual elements. By doing this, you can ensure that the dashboard looks exactly the way you want it to. You can also customize the dashboard further by using the various options available in Excel, such as adding titles and descriptions to the dashboard.

• Tailor the visual features for a seamless look
• Set up the data source
• Configure the display settings

Generating Reports

Generating reports from the dashboard data is a critical step in analyzing performance, identifying trends and taking action on the insights that the dashboard provides. At the same time, generating reports can be time consuming and tedious.

Automating Report Generation

One way to minimize the time and effort required to generate reports from a dashboard is to utilize automation. There are a number of automation options available, including Excel macros. Automating the report generation process can help streamline the reporting process, reduce errors and save time. Additionally, automating the report generation process can help ensure consistency in the reports.

Design Meaningful Reports

Once the reports have been generated, it is important to make sure they are meaningful and useful to the intended audience. This means designing the reports in a way that is easy to read and understand, using visuals where appropriate and ensuring they provide useful information. Additionally, it is important to make sure the reports are relevant to the dashboard data and provide meaningful insights.

For example, if the dashboard is designed to monitor customer sentiment, then the reports should be designed to provide information about how customer sentiment is trending over time, as well as potential drivers of that sentiment.

By automating the report generation process and designing meaningful reports, it is possible to maximize the value of the dashboard data and ensure it is effectively utilized to drive business performance.

Troubleshooting

Unfortunately, sometimes Excel Dashboards run into problems. The good news is that these problems can generally be resolved relatively easily. This section will provide an overview of how to troubleshoot any bugs or errors in an Excel dashboard.

Fixing any Bugs or Errors

The first step in troubleshooting any issues with an Excel dashboard is to review the syntax or formula that was used to create the dashboard. It is essential to ensure that the syntax is correct. If there are any errors present in the syntax, the dashboard will not work as intended. Once any errors in the syntax have been identified and corrected, the dashboard can be tested to ensure that it is working correctly.

Best Practices for Error Resolution

It is important to use best practices for resolving errors in an Excel dashboard. It is recommended to start at the source of the problem and work from there. For example, if a particular formula is causing an error, it is best to review the syntax of the formula to identify any mistakes before attempting to fix the issue. It can also be helpful to verify that all of the data being used in the dashboard is accurate.

It is also important to take the time to document any errors and their resolution. This will make it easier to identify and resolve any issues in the future. Finally, it is essential to test the dashboard after any changes are made to ensure that the errors have been resolved.

Conclusion

Monitoring your business through Excel dashboards is a wise and effective way to save time and money, and keep track of your business’s performance. It allows you to track and analyze key performance indicators, get timely information, and draw better conclusions that would otherwise be impossible to derive. Excel dashboards also make it much easier to share and discuss critical data, enabling stakeholders to make decisions that are better informed.

Benefits of Having an Excel Dashboard

The advantages of having an Excel dashboard greatly outweigh any potential drawbacks, as it allows businesses to stay on top of their finances by quickly identifying potential issues and taking corrective measures. Not only that, they can also improve the accuracy of their budgeting and forecasting activities. As a result, the insights presented by an Excel dashboard provide a valuable source of input for developing plans, strategies, and even cost-reduction initiatives.

Summary of How to Implement this System

Implementing an Excel Dashboard into your business may sound like a daunting task, but it’s easier than one may think. You must first gather the needed data, creating both a data source and a template from which to work. Once these are created, the data can be imported into the Excel dashboard, where it can be manipulated, analyzed, and presented in meaningful ways. With Excel’s impressive graphical capabilities, the data can be displayed in a way that is both user friendly and visually appealing.

In conclusion, Excel dashboards are an invaluable tool for monitoring the performance of your business. Utilizing the power of Excel, you can create robust, informative, and graphical dashboards for a fraction of the cost of other reporting systems. With an Excel dashboard, businesses can make data-driven decisions that are sure to benefit the bottom line.