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The Fundamentals On The Banking Dashboard

May 10, 2008
In any bank or financial institution, it is very important to implement the banking dashboard. This is indeed a tool that no bank should be without. This is because the banking dashboard has a very important role to play, which is geared towards the overall performance and progress of the banking enterprise itself.

When it comes to the banking dashboard, it is important to note down that there are actually a number of templates that you can check online. Amongst the different models that you can use as templates, there will surely be a number of similarities and differences. IT team experts, data visualization experts, and executive management staff should bear in mind these similarities and differences, to find the aspects that you would need to incorporate in your own banking dashboard. What is important here is to include aspects that will be relevant for your industry, not to mention, the very operations of your own bank or financial institution.

Expectedly, there are a number of things to keep in mind when developing the banking dashboard. In any model you choose for your enterprise, these are the common things you still have to ask yourself. First of all, you have to pose the question: Who will be the audience of the banking dashboard? By knowing who will be looking at your banking dashboard, you can then weed out more specifically which particular designs would be appropriate for your selected audience. Place yourself in the audience for a moment, and imagine just what you would want to see from the banking dashboard. What aspects would you find most helpful when using the dashboard? What color combination would be better to use, to encourage more attention? It is actually recommended to come up with a list of people who will be viewing the dashboard.

Secondly, you also have to ask yourself what kind of information the banking dashboard is expected to represent. It is a must to define all aspects of information in full depth here. The typical banking dashboard would just contain the relevant KPIs or key performance indicators that provide quantifiable measures for the bank's overall performance. If you have had background on the balanced scorecard and the pertinent role it plays, then you would not have any problem understanding this particular aspect of the banking dashboard anymore. However, you still have to pay attention to component selection, since this is a large part towards the proper representation of your data. Thus, you need to choose these components very well, to make sure these represent your data appropriately.

Lastly, you also have to consider how the banking dashboard would present the final results of the whole project to its expected audience. For instance, if your results would be presented via a web page, then you should consider the size and the dimension of the web page itself. The font face, the font size, the colors, all these and more have to be considered, to ensure that the final presentation would be what it should be.

These are just some of the aspects banks and other financial institutions have to bear in mind when developing the banking dashboard. With these tips, banks can then develop a more efficient dashboard for their own use.
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