Executive dashboard templates are a managerial tool which executives use to evaluate and examine various performance indicators at one place. It is a reporting tool which is used to observe different indexes either visually or through graphically. The ultimate purpose of using dashboard templates is to conduct short or long term strategic or financial decisions based on data provided. A dashboard represents information not only in different styles but also in formats for instance, charts, bars, graphs, tables and pictures. An executive dashboard template can easily be prepared either in MS Excel, Word or PowerPoint using them as tools. These templates work together with other management information systems by connecting processed data within business segments. It can further connect with website’s analytical stats to monitor traffic and other key elements.
Popular Kinds of Executive Dashboards
Executive dashboards are created as the requirement of business individuals or decision-makers. Nevertheless, there are the most common types of dashboard which are given below for your comfort and ease;
Balanced Scorecard Dashboard
These types of dashboards measure performance in four different areas including research, satisfaction of customers, internal control and finances. Using this dashboard, executives make an idea about how their company is performing in these areas.
Portfolio Dashboard
These dashboards are used to compare status of different projects in one glance. These dashboards feature cost of each project, return on investment (ROI) of each project and nature of projects. Companies which handle multiple projects at the same time can use these dashboards. Mostly investment firms and private equity firms use these types of dashboards. Using these dashboards they easily track their multiple ongoing projects.
Sales Performance Dashboard
Sales performance dashboards are used to display sales related information in form of charts and graphs. Usually information which is displayed with this type of dashboard includes current sales, past sales and percent changes in sales with passage of time. These dashboards expediently sum up this information for sales executives which help them in making their management strategies.
Linkage Dashboard
This type of dashboard is used to link different measurements in different departments or companies, for instance an advertising company can link a TV commercial budget in the production department with national TV ratings.
Creating dashboards that will help in making different strategies are not so easy. It needs special skills and enough time to create these dashboards. One can use executive dashboard template of concerned type and follow it to create their dashboard.
Tips to Create Your Own Executive Dashboards
An executive dashboard is a vital reporting tool for management to make necessary decisions. To derive essential benefits from these dashboards, it is inevitable to understand how to prepare these templates. Underneath are some amazing tips which you can use while preparing your own executive dashboard templates. These are given below;
What You Exactly Looking For
An executive dashboard cannot satisfy your requirements until it is solely made for it. Consequently, a good executive dashboard must prepare which can resolve your genuine issues. But, you will have to highlight your problems which you are facing or forcing you to prepare your own dashboard. You can start understanding your requirements by listing down one by one in a sheet or paper. It can reflect an exact roadmap which is you are looking forward.
What are Your key performance indicators
Once you know your requirements, you can list down desire indicators which you will love to see in your dashboard. These key performance indicators can add to dashboard one by one, by bring together with management information system. You can also hire the assistance of any professional while facing difficulties.
Learn How to Integrate With Local Systems
It is vital to integrate all your key performance indicators with your current business systems either through some remote assistance or through APIs. While integrating you must ensure the accuracy of obtained data which should be true and from relevant source.
Learn How to Design Your Executive Dashboard
Once the integrating process is completed and the framework is uplinked, it is high time to give design your thoughts. You can go for customization of your dashboard look as per your preferences or how you will love to see its appearance. This process can make your dashboard equipped with your specified insights and metrics exactly as per your desires.
Make a Test Run
Before putting your dashboard into practice, you will need to conduct a test run. You can ask for multiple queries at one time to see the results. If these are accurate and integrated with current system, then you can online your dashboard system. However, you can review your settings any time during performance check.