The following is a presentation prepared for NASFAA’s 2006 Conference in Seattle, WA July 5-8, 2006
Using a Digital Dashboard to Track your Key Performance Indicators Leonard Gude,  Director, Financial Aid  University of S...
What is a Digital Dashboard? <ul><li>A dashboard style display of office metrics and key performance indicators (KPIs) </l...
Designing your Dashboard <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metrics and Key Pe...
Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metric...
Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metric...
Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metric...
Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Others?????? </l...
Designing your Dashboard (continued) <ul><li>Step 2 – How often does the data need to be updated? </li></ul><ul><ul><li>In...
Designing your Dashboard (continued) <ul><li>Step 3 – Where is the data coming from? </li></ul><ul><ul><li>URL on the inte...
Designing your Dashboard (continued) <ul><li>Step 4 – How do I update it? </li></ul><ul><ul><li>Live interface (RSS, XML, ...
Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed?  Example: Excel   www.usf.edu/excellen...
Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed?  Example: Crystal Xcelcius </li></ul>
Designing your Dashboard (continued) Step 5 – How should they be displayed?  Example: Fusion Charts
Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed? </li></ul><ul><li>Source: New Mexico S...
Choosing Dashboard Software <ul><li>Check to see what your institution is using </li></ul><ul><li>Products to consider:  <...
Display the Right Data
Display the Right Data <ul><li>What is important? </li></ul><ul><ul><li>Brainstorm </li></ul></ul><ul><ul><li>Keep “must k...
Start Small <ul><li>Initially develop with Excel </li></ul><ul><li>Link to (or use) what your institution has </li></ul><u...
Questions?
 
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Using a Digital Dashboard to Track Your Key Performance ...

  1. 1. The following is a presentation prepared for NASFAA’s 2006 Conference in Seattle, WA July 5-8, 2006
  2. 2. Using a Digital Dashboard to Track your Key Performance Indicators Leonard Gude, Director, Financial Aid University of South Florida Doug Levy Associate Director, Financial Aid University of Michigan
  3. 3. What is a Digital Dashboard? <ul><li>A dashboard style display of office metrics and key performance indicators (KPIs) </li></ul>
  4. 4. Designing your Dashboard <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metrics and Key Performance Indicators (KPIs) </li></ul><ul><li>Processing </li></ul><ul><ul><li>FASFAA’s received </li></ul></ul><ul><ul><li>Students evaluated </li></ul></ul><ul><ul><li>Students packaged </li></ul></ul><ul><ul><li>Students selected for verification </li></ul></ul><ul><ul><li>Students verified </li></ul></ul><ul><ul><li>Loan requests received </li></ul></ul><ul><ul><li>Loan requests processed </li></ul></ul><ul><ul><li>Summer applications received </li></ul></ul><ul><ul><li>Summer applications processed </li></ul></ul><ul><ul><li>Documents received </li></ul></ul><ul><ul><li>Communications sent (e-mail, paper) </li></ul></ul><ul><ul><li>Calls received/ average wait time </li></ul></ul><ul><ul><li>Counter visits/ average wait time </li></ul></ul><ul><ul><li>Walk-in appointments/ average wait time </li></ul></ul><ul><ul><li>Scheduled appointments/ average wait time </li></ul></ul>
  5. 5. Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metrics and Key Performance Indicators (KPIs) </li></ul><ul><li>Funds Management </li></ul><ul><li>Current Year (Offered/Budgeted/Disbursed) </li></ul><ul><ul><li>Federal Pell Grant </li></ul></ul><ul><ul><li>FSEOG </li></ul></ul><ul><ul><li>State Grant </li></ul></ul><ul><ul><li>Institutional grant </li></ul></ul><ul><ul><li>Federal Stafford/Direct Loan </li></ul></ul><ul><ul><li>Federal Perkins Loan </li></ul></ul><ul><ul><li>Institutional Loan </li></ul></ul><ul><ul><li>Federal PLUS Loan </li></ul></ul><ul><ul><li>Other loans </li></ul></ul><ul><ul><li>Federal Work-Study </li></ul></ul><ul><ul><li>Major state and institutional scholarship programs </li></ul></ul><ul><li>Prior Years comparisons (Historical) </li></ul><ul><ul><li>Federal </li></ul></ul><ul><ul><li>State </li></ul></ul><ul><ul><li>Institutional </li></ul></ul><ul><ul><li>Endowed </li></ul></ul><ul><ul><li>Other </li></ul></ul><ul><ul><li>Percent of all funds need-based </li></ul></ul><ul><ul><li>Percent of institutional funds need-based </li></ul></ul><ul><ul><li>Disbursements by month (chart) </li></ul></ul>
  6. 6. Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metrics and Key Performance Indicators (KPIs) </li></ul><ul><li>Outcomes (last two years) </li></ul><ul><li>Enrollment </li></ul><ul><ul><li>Undergraduate enrollment </li></ul></ul><ul><ul><li>Percentage receiving aid </li></ul></ul><ul><ul><li>Percentage receiving Federal Pell Grants </li></ul></ul><ul><ul><li>Percentage receiving state merit awards </li></ul></ul><ul><li>Graduate Enrollment </li></ul><ul><ul><li>Percentage receiving aid </li></ul></ul><ul><ul><li>Percentage receiving assistantships </li></ul></ul><ul><li>New Freshmen </li></ul><ul><ul><li>Percentage receiving need-based aid </li></ul></ul><ul><ul><li>Average need-based award </li></ul></ul><ul><ul><li>Average merit-based award </li></ul></ul><ul><ul><li>Aid applicant yield vs. yield on non-applicants </li></ul></ul><ul><ul><li>Institutional discount rate </li></ul></ul>
  7. 7. Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Suggested Metrics and Key Performance Indicators (KPIs) </li></ul><ul><li>Default Management </li></ul><ul><ul><li>Federal Stafford/Direct Loan default rate </li></ul></ul><ul><ul><li>Federal Perkins Loan default rate </li></ul></ul><ul><ul><li>Average indebtedness </li></ul></ul><ul><ul><li>Number of federal audit findings and dollar amount </li></ul></ul><ul><ul><li>Number of state audit findings and dollar amount </li></ul></ul><ul><li>Administration </li></ul><ul><ul><li>Applicants per staff member </li></ul></ul><ul><ul><li>Students per staff member </li></ul></ul><ul><ul><li>Cost per recipient </li></ul></ul><ul><ul><li>Cost as a percentage of dollars administered </li></ul></ul><ul><ul><li>Staff turnover </li></ul></ul><ul><ul><li>Counselor turnover </li></ul></ul><ul><li>Customer Service </li></ul><ul><ul><li>Overall rating </li></ul></ul><ul><ul><li>Rating compared to other administrative offices </li></ul></ul>
  8. 8. Designing your Dashboard (continued) <ul><li>Step 1 - What data elements are important? </li></ul><ul><li>Others?????? </li></ul>
  9. 9. Designing your Dashboard (continued) <ul><li>Step 2 – How often does the data need to be updated? </li></ul><ul><ul><li>Instantly? </li></ul></ul><ul><ul><li>Hourly? </li></ul></ul><ul><ul><li>Daily? </li></ul></ul><ul><ul><li>Weekly? </li></ul></ul><ul><ul><li>Monthly? </li></ul></ul><ul><ul><li>Annually? </li></ul></ul>
  10. 10. Designing your Dashboard (continued) <ul><li>Step 3 – Where is the data coming from? </li></ul><ul><ul><li>URL on the internet? </li></ul></ul><ul><ul><li>Live from Student Information System? </li></ul></ul><ul><ul><li>Data Warehouse? </li></ul></ul><ul><ul><li>Office Server? </li></ul></ul><ul><ul><li>Spreadsheet on Desktop PC? </li></ul></ul><ul><ul><li>Paper Report? </li></ul></ul>
  11. 11. Designing your Dashboard (continued) <ul><li>Step 4 – How do I update it? </li></ul><ul><ul><li>Live interface (RSS, XML, URL)? </li></ul></ul><ul><ul><li>Batch processes? </li></ul></ul><ul><ul><li>Manual data entry? </li></ul></ul>
  12. 12. Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed? Example: Excel www.usf.edu/excellence/dashboard%20concept.htm </li></ul>
  13. 13. Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed? Example: Crystal Xcelcius </li></ul>
  14. 14. Designing your Dashboard (continued) Step 5 – How should they be displayed? Example: Fusion Charts
  15. 15. Designing your Dashboard (continued) <ul><li>Step 5 – How should they be displayed? </li></ul><ul><li>Source: New Mexico State University Office of Financial Aid </li></ul>
  16. 16. Choosing Dashboard Software <ul><li>Check to see what your institution is using </li></ul><ul><li>Products to consider: </li></ul><ul><ul><li>Excel </li></ul></ul><ul><ul><li>Crystal Xcelcius </li></ul></ul><ul><ul><li>Fusion Charts </li></ul></ul><ul><ul><li>Others? (Do a web search on “dashboard”) </li></ul></ul>
  17. 17. Display the Right Data
  18. 18. Display the Right Data <ul><li>What is important? </li></ul><ul><ul><li>Brainstorm </li></ul></ul><ul><ul><li>Keep “must know” items </li></ul></ul><ul><ul><li>Trim out “nice to have” items </li></ul></ul>
  19. 19. Start Small <ul><li>Initially develop with Excel </li></ul><ul><li>Link to (or use) what your institution has </li></ul><ul><li>Add technology as it becomes available </li></ul><ul><li>Expand over time as you discover what you need and what works best for you </li></ul>
  20. 20. Questions?
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