Learn how to design a clear and effective financial dashboard that aligns with your objectives, plan, and stakeholders. Follow these tips to simplify your dashboard for better analysis.

1. Identify at least 30 KPIS for your business 2. Talk with industry financial experts, and cut selected list to 10 KPIs to watch (even I prefer 7 only) 3. Set timing for calculating of KPIs e.g. 3rd in month for previous month 4. Compare KPIs with budgeted and with last period 5. Set a benchmarking rules: compare KPIs with peers

How can you simplify your financial dashboard for better analysis?

A financial dashboard is a tool that helps you monitor and communicate the performance and health of your business. However, a cluttered and complex dashboard can be confusing, misleading, and overwhelming. How can you simplify your financial dashboard for better analysis? Here are some tips to help you design a clear and effective dashboard that serves your needs and goals.

1 Identify your key metrics

The first step to simplify your dashboard is to decide what are the most important metrics that you want to track and display. These should be aligned with your strategic objectives, your financial plan, and your stakeholders' expectations. Avoid including too many metrics that are irrelevant, redundant, or distracting. Focus on the ones that provide the most value and insight for your decision-making and reporting.

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Bojan Radojicic

Finance Modeling Coach. Helping Finance Pros Make More Money with Impactful Finance Models & Trainings.
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1. Identify at least 30 KPIS for your business 2. Talk with industry financial experts, and cut selected list to 10 KPIs to watch (even I prefer 7 only) 3. Set timing for calculating of KPIs e.g. 3rd in month for previous month 4. Compare KPIs with budgeted and with last period 5. Set a benchmarking rules: compare KPIs with peers

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2 Choose the right visualization

The second step is to select the best way to visualize your key metrics. Depending on the type and nature of your data, you can use different charts, graphs, tables, or indicators to present your information. For example, you can use a line chart to show trends over time, a bar chart to compare different categories, or a pie chart to show proportions. Choose the visualization that is easy to understand, accurate, and consistent.

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Vinicent Holland II
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Financial dashboards can get pretty messy, fast! Declutter the visuals and make sure you're using relevant data being presented. Group the values by similar categories. You don't always need lengthy number lists when you can opt for a tidy chart instead. It's an upgrade and easier to digest for viewers. Staying up to date on your data is also valuable. Pick a frequency and update your dashboard at the same time before each presentation.📊

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3 Organize your layout

The third step is to arrange your dashboard elements in a logical and intuitive way. You can use a grid system, a hierarchy, or a grouping method to organize your dashboard. For example, you can use a grid system to divide your dashboard into sections based on the level of detail, a hierarchy to prioritize the most important metrics at the top, or a grouping method to cluster related metrics together. Organize your dashboard in a way that guides the user's attention and flow.

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4 Simplify your design

The fourth step is to refine your dashboard design to make it more simple and elegant. You can use some design principles and techniques to enhance your dashboard appearance and readability. For example, you can use colors, fonts, and icons to create contrast, emphasis, and harmony. You can also use labels, titles, and legends to provide context and clarity. Simplify your design by removing any unnecessary or distracting elements.

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5 Test and iterate

The final step is to test and iterate your dashboard to ensure that it meets your needs and goals. You can use some methods and tools to evaluate your dashboard usability and effectiveness. For example, you can use feedback, surveys, or interviews to collect user opinions and suggestions. You can also use analytics, benchmarks, or goals to measure your dashboard performance and impact. Test and iterate your dashboard by making improvements and adjustments based on your findings.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you simplify your financial dashboard for better analysis?

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1 Identify your key metrics

2 Choose the right visualization

3 Organize your layout

4 Simplify your design

5 Test and iterate

6 Here’s what else to consider

Corporate Finance

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