Excel Management Dashboard Templates: Types of management dashboards in Microsoft Excel and more important the way to make your excel dashboard both efficient and effective
Management dashboards are effective business tools allowing managers to examine, evaluate and track business performance on a single page updated daily or even in some cases in real-time. By using efficient user interface, management is able to interpret data by using graphical indicators – charts, arrows, dials, efficient tables, graphs, etc.
The main KPIs must be monitored in 1. efficient and 2. effective way:
1. Management dashboards efficiency
1.1 Save time
Efficient management dashboard will save users time because the interface allows looking at the information without a need for clicking additional links or opening various files and documents offline or online.
1.2 Easy to understand
Additionally, managers, executives and decision makers in business should be able to easily get the idea about the business performance in one snapshot.
1.3 Easy to communicate and share
It is absolutely important for managers to be capable of easily sharing the key information with the team , coworkers and any stakeholder. This is an efficient KPI management process.
2. Management dashboards effectiveness
2.1 Focus on what really matters
Not only management should be efficient but it also should be focused on what matters to the business in terms of achieving the goals and objectives.
2.2 Actionable information
Think about all metrics, benchmarks and key performance indicators that are too vague, general or just “nice to know info”. Those are typically numbers that cause an information overload without really helping us improve the business. Make sure you concentrate on actionable info and present it on your dashboard.
2.3 Target KPIs and metrics
Unfortunately many excel dashboard users ask the question “What should I track?”. This makes the idea of the dashboard meaningless. Because the dashboard is just visual and simple yet effective way to monitor what is important. Focus on the main key performance indicators and simplify your dashboard reporting as much as possible so there is no information overload…