Module 2D Dashboards Flashcards
What is a Data Dashboard?
A data visualization tool that displays multiple outputs and may update in real-time, used to monitor various key performance indicators (KPIs).
What should an effective data dashboard accomplish?
It should present all related KPIs on a single screen, avoid the need for scrolling, convey information quickly and clearly, and adhere to principles of effective data visualization.
What types of information might an Investment Dashboard provide?
Current price, recent rate of return, relative risk of the portfolio, and key financial data for invested companies.
What are the differences between Static and Dynamic Dashboards?
Static dashboards are manually updated and are less expensive to develop, suitable for infrequent updates. Dynamic dashboards automatically update with new data, requiring more effort to develop but are useful when KPIs change rapidly.
Describe the purpose of an Interactive Dashboard.
Allows users to customize the display using features like drill-downs for detailed information, hierarchical filtering, time interval widgets, and customization tools for variable display.
What are some key considerations in dashboard display design?
The dashboard should use appropriate chart types, effective color usage, a practical layout for easy information retrieval, and avoid overcrowding or complexity.
How do Operational and Strategic Dashboards differ?
Operational dashboards are updated more frequently and help lower-level managers monitor critical conditions, while Strategic dashboards are updated less frequently and enable executives to monitor overarching organizational objectives.
What are common mistakes in Data Dashboard design?
Common mistakes include not aligning with organizational needs, mispositioning charts, using ineffective graph types, and neglecting design principles, which can lead to cluttered or sparse dashboards.
