Understanding Built-In Dashboards
Dashboards are powerful collections of displays that tell a story around a designated topic. They allow you to view multiple displays at once, facilitate at-a-glance data analysis, and to craft impactful presentations.
The Built-In Dashboard Library
Dashboards are grouped into three topics:
Strengths & Weaknesses: The first section within the dashboards folder focuses on exploring strengths and weaknesses across 9 topics.
Member Value: These displays and dashboards relate to Callahan’s Return of the Member Score, used to measure the economic value that a credit union is providing to its members compared to the other credit unions in your comparison set. Learn more on this proprietary metric: HERE.
Departmental: The last section of dashboards addresses important metrics and areas of concern related to specific verticals within a credit union.
The displays within Peer Suite’s Built-in Dashboards stand out from Peer Suite’s other displays by incorporating three unique features: a ratio definition, performance analysis, and star ranking.
Unique Features of Built-In Dashboards
Peer Pointer!
f(x): Formula breakdowns are available on all Peer Suite displays. Learn more HERE.
Ratio Definitions:
These definitions can serve as educational tools, fostering a deeper understanding of metrics. This is especially true for those new to a credit union or the industry in general. When paired with the performance analysis, they offer a more comprehensive perspective, enabling stakeholders to gain a clearer picture of the displayed data and make more informed decisions.
Performance Analysis:
The aim of performance analysis is to provide context and insights into why a credit union is performing in a particular manner. It is specific to your primary institution’s aggregate performance against all other institutions in your comparison set. It delves into the factors driving performance, offering suggestions and recommendations. When combined with ratio definitions, it not only explains the “what” but also the “why” behind the data, empowering organizations to take targeted actions for improvement.
Peer Pointer!
Keep in mind context is crucial for performance analysis. You will always understand the inner workings of your credit union better than we could.
- For example, you may notice that a credit union’s operating expense ratio is higher than its peers. While a lower ratio might seem better, there are a lot of other factors to consider like the number of branches, the complexity of their business operations, and their geography.
Star-based Rating System:
Our dashboard’s star-based rating system offers an easy way to compare a credit union’s relative performance for a given ratio or metric. Peer assigns a rating by looking at the range of performance across the credit unions in your comparison set.
Star ratings are assigned based on a performance percentile, outlined below:
- 1 star = <10%
- 2 stars = 11-39%
- 3 stars = 40-60 %
- 4 stars = 61-89%
- 5 stars = 90+ %
Peer Pointer!
The star rankings are often, but not always, an indication of performance. This is the case because this rating reflects a percentile ranking. So, a higher number of stars just means that you are in a higher percentile for that ratio.
- For Example: Looking at net worth, some might argue that having too high a net worth ratio could mean a credit union isn’t investing enough back in their membership or the future.
To access these features, open the Built-In Dashboard of your choice onto your canvas. Explore the textual analysis and star ranking by clicking on each features’ designated buttons, located at the bottom of each display.
Please note that ratio definitions, performance analysis, and star ranking are ONLY available on built-in dashboards