Executive Performance Dashboards Best Practice from insightfocus.com.au

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Presentation on Corporate Executive Performance Dashboards and Tips on Achieving Best Practice Standard in Creating and implementing Performance Dashboards.

Some key points on Executive Performance Dashboard best practice include:
• The Dashboard’s purpose is to increase actionable strategic insight into your company’s performance.
• Strategically selecting and aligned metrics to achieve a powerful tool within your Dashboard and a high return on investment.
• Dashboards should allow you to report, analyse, plan and monitor your lead and lag indicators.
• Unfortunately Dashboards are implemented with limited planning, analysis and design, knowledge and expertise specific to Dashboard methodologies.
• Executive Performance Dashboards that are not strategically designed and are not actionable in nature result in reduced financial performance and the weakening of an organisation’s competitive advantage.

To achieve Dashboards that are useful to your Executives, the Dashboard need to be:
• Driven by the business.
• Outcome focus to have the capability to achieve a call to action.
• Not driven by technology or individuals’ personal agendas.

The results of implementing and enhancing your existing Executive Performance Dashboards to best practice standards will help you to:
• Achieve greater insight into your company’s performance.
• Shorter time frames in taking actions to improve financial performance.
• Align your Executives focus to the organisation’s corporate strategy.
• Help to increase your company’s financial performance.

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Executive Performance Dashboards Best Practice from insightfocus.com.au

  1. 1. Report Charts Best Practice Standards Tips Date: January 2014 Website: Email: http://www.insightfocus.com.au info@insightfocus.com.au Do not forget to click on the ‘Follow’ button to ensure you do not miss out on future presentations Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  2. 2. Charts Best Practice Standards Introduction Charts and graphs are used widely throughout organisations globally to communicate information and insight in a powerful and effective manner. The above point is especially true with the global penetration and market share of Microsoft Excel. When producing and using charts always consider the story you are trying to tell and how you are telling it to. Additionally you need to ask yourself is the information you are charting valuable and relevant to the reader? Is the reader in a position to make decisions and more importantly take actions on the information being charted and provided to them? Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  3. 3. Charts Best Practice Standards Introduction Unfortunately the majority of reports used in organisations are poorly designed and formatted resulting in the information being communicated ineffectively to the consumer of the report. The above point is unfortunately reinforced by the majority of organisations not following best practice standards in using MS Excel. This applies where no internal standards exist and if they do exist enforcing personnel to adhere to them. The end effect is the negative impact these have on the organisation’s reporting governance framework policies and procedures. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  4. 4. Charts Best Practice Standards Tips Below and on the following slides are some suggested guidelines in you being able to achieve best practice standards specific to the formatting and presentation of charts within your organisation. These best practice guidelines are specific to charting in MS Excel and are also applicable to other charting applications • Charts need to communicate information in an effective manner so avoid using and animations in your charts. • Use charts when you want to communicate the comparative nature and interrelationships of the data being presented. • Avoid using charts when you want to review the actual values of the results and needing to compare this data and information in a precise manner. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  5. 5. Charts Best Practice Standards Tips (continued) • Keep the chart colour palette simple to communicate the information effectively without distraction. • Ensure that the information that is being presented and communicating in the chart is more visible and emphasised than any other details contained in the chart. • Remove or reduce the emphasis of any objects, details or formatting in your chart that are not absolutely necessary in achieving your objective of effectively communicating the information contained in the chart. An example would be the removal of chart borders and gridlines, unless they are absolutely required. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  6. 6. Charts Best Practice Standards Tips (continued) • 3-D charts are a poor presentation layer for charts as they create clutter and can be difficult to read. • Try and avoid including too many data series in your chart. Generally try to keep your data series to less than nine. • On your axis avoid using minor ticks and odd interval ticks as they detract from the communication of the message. • The use of your major ticks should only be on the value/quantitative axis and not on the category description axis of your chart. • Use major ticks on the outside of the axis. Have one tick for each quantitative value displayed on an axis. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  7. 7. Charts Best Practice Standards Tips (continued) • Consider using horizontal bar charts when you are graphing the descending order of a data series. Additionally consider using a horizontal bar chart when the category labels of the bars are not able to fit side by side. • Avoid using overlapping your bars within your bar charts. • The colour coding of your bars in bar charts need to be clearly distinct. • Avoid using pattern backgrounds in your bar charts as it detracts from the concise message you are trying to communicate to the report consumer. • Avoid using different coloured borders on your bars unless you are aiming to highlight a particular bar to the end user. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  8. 8. Charts Best Practice Standards Tips (continued) • In your line and scatter graphs that contain multiple data series format your data points as this will allow you communicating the information more effectively. • Should your line and scatter graphs data points over lap then proceed to use different sized data points, use a clear fill on the data points, use a different styled data points and increase the chart size if possible. Also take into consideration the sequencing of your data series and the way it impacts the presentation of the chart’s data points when they overlap. • Avoid using pie charts due to the issue of when comparing the different slices. It can be difficult for the report consumer to differentiate the different sized angle when comparing angles. • Where possible reference the data source that has used to populated your charts. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  9. 9. Thank You Contact us to discuss how we can help you achieve an effective and actionable reports and increase efficiencies and automation in their production to adhere to best practice standards. Do not forget to click on the ‘Follow’ button to ensure you do not miss out on future presentations. Website: http://www.insightfocus.com.au Email: info@insightfocus.com.au Copyright © 2014 InsightFocus.com.au • All Rights Reserved

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