How to Update Data Sources for Excel Dashboards

Introduction

The ability to effectively utilize data sources and create an Excel Dashboard can be an incredibly powerful tool for any business. In this blog post, we will learn about data sources and their various uses, as well as how to update them within an Excel Dashboard. We will cover topics such as the definition of data sources, the value of Excel Dashboards, and how to successfully manage data sources in your dashboard. By the end of this post, you will be able to confidently update your data sources within Excel Dashboards.

What are Data Sources?

A data source is a collection of data used to generate an analysis of the data included. Data sources can range from physical records such as invoices and sales orders, to digital records such as web searches, emails, and social media posts. Data sources can be used to gain insights about customer behavior, trends across industries, and other useful information that can be used to inform decision-making.

The Value of Excel Dashboards

An Excel Dashboard is a visual representation of various data sources used to gain insights into various areas of an organization or business. Dashboards are commonly used to provide an overview of performance and are used for reporting purposes. Dashboards are useful for identifying trends and gaining a better overall understanding of the data included. Dashboards are also helpful when it comes to setting specific goals and making informed decisions based on the data.

What is a Data Source?

A data source is the location of where a program, such as Microsoft Excel, retrieves the data that is used for the creation of spreadsheets, reports and dashboards. Common types of data sources used by companies include databases, flat files and other tables. Variants of the same data source may also be used, such as CSV files, XML files, and web APIs.

A. Types of Data Sources

There are four main types of data sources used to obtain data for spreadsheet applications:

• Databases: Databases are a type of structured data. This type of data source has been popular in the corporate environment for over two decades, and include Oracle and Microsoft SQL Server. Having this type of data source helps to ensure that data is always consistent and all data points are captured.
• Flat files: Flat files are a form of structured data set, but unlike databases, they are not connected through a database table. Common examples of flat files include excel spreadsheets, text files, and comma separated value (CSV) files.
• Other tables: Tables from other sources can be used as data sources. This includes tables from the web, such as HTML tables and JSON objects. Additionally, these tables can come from other applications and programs such as Google Sheets and Salesforce.
• Variants: Variants of flat files and other data sources are also available. This includes CSV files and XML files as well as web APIs.

B. Benefits of Having a Data Source

Having a data source is extremely beneficial as it allows Excel dashboard creators to easily and quickly obtain the data that is necessary for their dashboard. Additionally, having a data source makes it easy for the creator to store and view data, as well as update data points and visualize changes in the data. Furthermore, having a data source provides the creator with a centralized location where the data is stored, and thus the creator can access the same set of data points and visualizations across multiple projects.

Connecting Data Sources to Microsoft Excel Dashboards

Creating a dashboard in Microsoft Excel requires your data to be connected to the workbook. While Excel dashboards can use different data sources such as web services, databases, and local files, many of these sources require a suitable connector before they can be accessed in Excel. Step by step instructions on how to connect data sources to Microsoft Excel Dashboards are provided below.

Step 1: Choose a Compatible Connector

The first step when connecting data sources to Microsoft Excel Dashboards is to choose a compatible connector. There are a variety of different connectors available, including Microsoft Query, Power Query, and Access Database Engine. Each connector has a different offer of source server and database connection options, so be sure to consult Microsoft’s documentation for information on which connector will best suit your needs.

Step 2: Configure the Connection

Once your compatible connector has been chosen, the next step is to configure the connection. Configuring the connection involves providing the appropriate connection parameters and test connecting to the data source. Once connected, it is also important to check the connection properties to ensure that the connection parameters are correct.

Step 3: View the Data Source in Excel

The final step in connecting data sources to Microsoft Excel Dashboards is to view the data source in Excel. This is typically done by connecting to the data source in the power query editor and then inserting the data into Excel using the appropriate worksheet. It is important to note that the data source in the power query editor and the worksheet in Excel are linked, so any changes made to the data source in the power query editor will also be reflected in the worksheet in Excel.

Refreshing Data Sources

Updating data sources in Excel dashboards is a critical part of the dashboard process. Refreshing your data source ensures that changes that have occurred in the data source since the dashboard was first created are visible in the dashboard itself. Keeping an up-to-date dashboard can be essential to business as it informs critical business decisions and strategies. Data sources should always be refreshed after the dashboard is first created and then regularly for maximum utility.

Why it’s important to refresh a data source

Refreshing data sources is important to keeping the content of the dashboard up-to-date and reliable. Data sources are usually drawn from multiple sources, such as databases or cloud applications, and the data can change rapidly. By not refreshing the data sources, the dashboard can become outdated and inaccurate. Moreover, covering decisions based on inaccurate data can lead to costly and counterproductive business decisions. Thus, regular refreshing of data sources is critical.

When should a data source be refreshed?

Data sources should be refreshed after the dashboard is first created and then on a regular basis. Depending on the specific needs of the dashboard, the frequency of the data refreshes can vary. Data refreshes should occur following any major changes to the data source, such as adding or editing records, or during regularly scheduled intervals.

How to refresh data sources with Microsoft Excel

Microsoft Excel provides several methods for refreshing data sources. The easiest and quickest way to refresh data sources is to open the dashboard and click on the “Refresh Data Sources” button. However, if the dashboard and its data sources are very large and complex, manual refreshing can be time consuming. Microsoft Excel also provides features that allow data sources to be refreshed automatically when the dashboard is opened, at specific intervals, or when changes are made in the data source.

• Open the dashboard and click on the “Refresh Data Sources” button.
• Use the “Automatic Refresh” options to set regular refresh frequencies.
• Set “On Change” refresh parameters to ensure data sources refresh when changes are made to the data source.

Automating Data Refresh

When it comes to customizing and updating Excel dashboards, it is important to keep the data sources up to date. Automating data refresh can help streamline this process and keep the Excel dashboards running smoothly. Automating data refresh involves connecting the data source to Power Query, automatically refreshing data sources, and configuring a refresh schedule.

Connecting the Data Source to Power Query

The first step to automating data refresh is connecting the data source to Power Query. Power Query is a powerful Microsoft Excel add-on that allows users to quickly connect to data sources and manipulate them. With Power Query, users can easily transform the data into useable and meaningful insights. To connect the data source to Power Query, click on “Data” in the ribbon, then click “Get Data” in the drop-down menu. Select the data source type and follow the prompts to connect the data source to Power Query.

Automatically Refreshing Data Sources

Once the data source is connected to Power Query, the next step is to set up the data source to automatically refresh. This can be done by setting the data source to refresh each time the spreadsheet is opened. To do this, go to “Data” in the ribbon, then click “Refresh All” in the drop-down menu. Make sure the “Refresh when opening file” box is checked. This will ensure that the data is automatically refreshed each time the spreadsheet is opened.

Configuring a Refresh Schedule

The final step in automating data refresh is to configure a refresh schedule. This can be done by selecting the “Refresh Schedule” option in the “Data” tab, then selecting “Customize”. Here, users can configure the refresh frequency and specific times that the data should be refreshed. Additionally, users can also configure email notifications for failed refreshes. Follow the on-screen instructions to configure the refresh schedule.

Updating Your Dashboard

A successful Excel dashboard relies on data that is both accurate and up-to-date. A well-constructed dashboard should provide users with meaningful information quickly and effectively. To ensure that your dashboard is working optimally, you must maintain an up-to-date data source.

How to Update the Dashboard Visualization

Updating your Excel dashboard should include a review of the data and visualization. First, ensure that your data sources have been updated and are current. This might involve cross-referencing information from different sources or checking for any data inconsistencies. Once you have verified that your data is accurate, take the time to evaluate your dashboard visuals. Are the charts and graphs clearly communicating their purpose? Are the colors, fonts, and styling helping your dashboard to be visually appealing? Making sure that your dashboard is free of any errors and is aesthetically pleasing will help to provide the right information to your audience.

Managing Multiple Data Sources and Maintaining Accuracy

Organizing and managing multiple data sources can be a tedious process. It is important to maintain an organized system of data inputs to ensure accuracy in your dashboard. Instead of relying on manual update processes, consider automating the data input process. Making use of data consolidation or pivot tables can help to rapidly aggregate, update, and transform your data.

Organizations may also consider adopting a policy for periodically reviewing the dashboard data to make sure it is still accurate and relevant to the original objectives. To help maintain accuracy, consider creating specific guidelines for data sources, updating frequency, and review processes.

Conclusion

Updating data sources for Excel dashboards can be a tedious task, but it is an integral one when it comes to keeping your dashboard up-to-date with the latest information. This blog post has discussed some of the ways to optimize this process, including creating an automated process and taking advantage of Excel functions. In doing so, you can minimize manual labor and save time while ensuring that your dashboard is as current and as useful as possible.

Summary of Topics Discussed

• Importing Data from External Sources
• Using Excel Formulas
• Automating Data Updates

Benefits of Updating Data Sources for Excel Dashboards

Updating data sources for your Excel Dashboard offers a number of benefits, both short-term and long-term. It reduces the amount of time spent manually entering data into the dashboard, saving you hours of work. It also ensures that the data presented in your dashboards is current and up-to-date, which in turn contributes to a more accurate depiction of the situation. The information presented in your dashboards will be more reliable and useful to users, making the dashboard one of the most important tools in your organization.