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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?
    •