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Using a Digital Dashboard to Track Your Key Performance ... Using a Digital Dashboard to Track Your Key Performance ... Presentation Transcript

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