Dashboard reports are essential for organizing and visualizing data. A dashboard report provides an overview of key performance indicators (KPIs) and other important metrics in a way that is easy to understand and acts as an at-a-glance resource for decision makers.
Creating an effective dashboard report requires an understanding of the data and how to present it in an engaging and informative way. There are numerous ways to create an effective report, such as using visuals like graphs and charts, adding annotations and drilldowns, and creating filters and slicers.
In this blog post, we will explore some examples of high quality Excel dashboard reports and discuss the strategies used to build them.
Examples of Quality Excel Dashboard Reports
Excel dashboards are incredibly useful for analyzing large quantities of data to identify trends and anomalies. Here are four examples of quality Excel dashboard reports that should give you an idea of the types of insight that can be gained from such a report.
Financial Earnings, Expense Analysis & Balance Sheet
This type of Excel report can help businesses keep track of their financial health. With a concise overview of the company's financial standings, leaders are able to identify and correct any imbalances quicker. This type of report will include a breakdown of earnings, expense analysis, and a balance sheet to provide insight into the company's overall financial position.
Human Resources Data
By using an Excel dashboard report, Human Resources departments are able to gain a better understanding of personnel performance, hiring, and retention. This type of report will provide a comprehensive breakup of departments, employees, and how they are performing against any stipulated metrics. From this, HR professionals can make more informed decisions in order to reach optimal performance.
Sales and Marketing Dashboard
For businesses who are involved in sales and marketing, an excel dashboard is invaluable. A sales and marketing report can track metrics such as sales and marketing performance, customer satisfaction, and lead generation. All of these metrics can be monitored and adjusted in order to reach the best outcome for the company.
Efficient inventory management is essential for businesses to remain profitable. An Excel dashboard report can be used to give owners a comprehensive view of their business inventory. This includes metrics such as the number of goods in stock, the costs of goods, current trends, and any potential bottlenecks that may be limiting inventory turnover.
The Excel reports mentioned above can provide valuable insight into a range of issues and allow businesses to make more informed decisions. No matter the industry, Excel reports provide a concise and comprehensive way to approach data analysis.
Advantages of Quality Excel Dashboard Reports
Excel dashboard reports offer a variety of advantages that make them an invaluable resource for monitoring key performance indicators and trends. This type of reporting allows for a quick visual overview of the data, easy to read information with interactive features, and the ability to easily identify key trends.
Quick Visual Overview of Key Performance Indicators
Excel dashboard reports are great for quickly providing a visual overview of the organization’s key performance indicators. A dashboard report can present multiple indicators in a single glance such as overall trends, customer satisfaction levels, or company growth. This helps to easily assess the goals that are currently being met or not met and track progress over time.
Easy to Read Data with Interactive Features
In addition to providing a quick visual overview of the data, Excel dashboard reports also make it easier to understand the numbers. Interactive features such as drill-down menus, sorting and filtering options, and custom formatting help to quickly get the information needed without having to manually go through large spreadsheets. These interactive features help to make Excel dashboard reports both efficient and user-friendly.
Identify Key Trends
The information presented in Excel dashboard reports can also help to identify key trends and make predictions about future behavior. For example, if an organization is tracking customer satisfaction over time they can use a dashboard to view changes in customer sentiment and make decisions based on their findings. By quickly analyzing trends, organizations can make decisions that are informed and actionable.
Creating an Excel Dashboard
In order to create a quality Excel dashboard report, the following should be taken into consideration:
Selecting the Data Relevant to the Desired Report
The data that should be included in your dashboard report should be directly related to the purpose of the report. You should determine which data points are required to effectively illustrate your key objectives. Additionally, it is essential to ensure that you review the data quality and consistency to make sure that the desired results are accurately captured in the report.
Formatting the Data Correctly
Once the data relevant to the report is identified, it is essential to make sure that the data is formatted correctly. This includes setting the right column widths, selecting the most appropriate number formats, sorting the data in a meaningful way, and creating dynamic ranges. All these adjustments will ensure that the dashboard report is easy to read and comprehend.
Deciding on the Most Useful Layout
In order to create a useful dashboard report, it is essential to decide on the most efficient layout. This includes defining what charts and visuals should be used to present the data in the best format. Additionally, you can use clustered column charts to compare items across different categories and add page breaks to separate the different visualizations within the report.
Additional Filters and Color Scheme
By adding filters to the report, you can enable users to customize the data in the report. Filters can be used to facilitate the comparison of different data sets and allow users to drill down into the report. Additionally, using an appropriate color scheme can enhance the overall visual appeal of the dashboard report and help users differentiate between the different data sets.
Early Warning System for Employees
An Excel dashboard report can be used to create an early warning system for employees and analyze their performance. This type of report provides essential information and key metrics to track progress and spot potential learning opportunities.
Create a Dashboard that Provides an Early Warning System
The dashboard can provide an overview of employee performance including their attendance, internal meetings and feedback from managers. With an early warning system, the dashboard can actually identify poor performance and alert management before a bigger issue arises. It can also set benchmarks and thresholds such as expected deadline adherence and efficiency levels.
Analyze Employee Performance
The dashboard report can create a visual representation of employee performance metrics that can be used to assess how well an employee is performing. This helps management quickly analyze how well each employee is meeting the expectations of the organization.
Spot Potential Learning Opportunities
The Excel dashboard can also be used to spot potential learning opportunities for employees. For example, if there are any areas that are lacking, the dashboard will provide insight into which areas need to be addressed. This will help the company identify any potential issues and provide the necessary training and resources to ensure that employees succeed.
Cloud-Based Tracking Systems
Cloud-based tracking systems provide several advantages over on-premise systems when it comes to creating quality Excel dashboards. Some of the advantages of using cloud-based tracking systems for Excel dashboards include:
Cloud-based tracking systems provide increased visibility for Excel dashboards. With cloud-based systems, users can monitor and view dashboards in real-time from any location, anytime. This kind of visibility helps to ensure data integrity, accuracy, and consistency.
Easier Sharing and Collaboration
Cloud-based systems also make it easier to share and collaborate on Excel dashboards. With cloud-based systems, users can quickly and easily share dashboards with others on their team. This helps to make sure everyone is on the same page with the information being presented in the dashboards and can help to ensure that decisions are made quickly.
More Powerful Features
Finally, cloud-based tracking systems offer more powerful features than on-premise systems. For example, cloud-based systems can often provide more customization options and analytics capabilities, allowing users to get more out of their data. Additionally, cloud-based systems often offer improved security and scalability, which can help to ensure the accuracy and integrity of the dashboard.
- Increased visibility
- Easier sharing and collaboration
- More powerful features
Excel dashboards offer efficient and effective ways to access and present data, allowing organisations to make well-informed decisions quickly. They are easy to use and provide clear insights into data sets. Besides, they can be easily customized to meet individual requirements and preferences.
Benefits of Excel Dashboard Reports
- Create better visualisation of data.
- Easy to use.
- Collate data for easier analysis.
- Ability to produce tailored reports.
- Save time in data interpretation and analysis.
Cloud-based Reports Offer Additional Features
Organisations can also improve their dashboard reporting systems by moving their data operations and analysis to the cloud. Cloud-based applications offer additional features such as automated data aggregation, enhanced visualisation, and real-time insights. In addition, cloud-based applications allow for more timely data analysis, providing businesses with more insight into how their organisation is performing.
Driving Informed Decision-Making
Given the improvements to data visualisation, accessibility, and analysis, Excel dashboards provide organisations with an effective means of making decisions based on an understanding of their data. Such insights empower organisations to make better decisions, become more efficient, and compete with greater confidence. With Excel dashboards, organisations have the right tools to make the right decisions, at the right time.