Market research is crucial for businesses to understand consumer behavior, market trends, and make data-driven decisions. The Market Research KPI Dashboard in Google Sheets is designed to streamline the analysis and tracking of various key performance indicators (KPIs) for market research purposes. This dashboard includes multiple worksheets and metrics to help you monitor performance, set targets, and make comparisons.
In this article, we will explain the features of the Market Research KPI Dashboard in Google Sheets, including the KPIs, formulas, and how it can be used to assess business performance.
Key Features of the Market Research KPI Dashboard
This ready-to-use Market Research KPI Dashboard in Google Sheets is an essential tool for tracking and analyzing key metrics. Below are the key components of the dashboard:
1. Dashboard Sheet Tab: Main Overview
The Dashboard Sheet is the main hub for all key metrics. Here, you’ll see the performance of various KPIs, and you can select the month from the drop-down (Range D3) to see updated data for that period. Key features include:
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MTD Actual: Displays the actual numbers for the current month to date.
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MTD Target: Shows the target values for the current month.
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PY MTD: Shows the previous year’s data for the same period.
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YTD Actual: Displays the actual numbers for the year to date.
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YTD Target: Shows the target values for the year to date.
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Conditional Formatting: Arrows (▲/▼) show the performance against the target, with color coding to indicate success or underperformance.
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2. KPI Trend Sheet Tab: Detailed Analysis
In the KPI Trend Sheet, you can:
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Select any KPI from a drop-down menu (Range C3).
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See the KPI Group (category of KPI), Unit of measurement, and whether the KPI is Lower the Better or Upper the Better.
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View the Formula used to calculate the KPI and its Definition, providing clarity on how the data is aggregated.
This sheet allows you to track the performance of individual KPIs over time.
3. Actual Number Sheet Tab: Input Your Data
The Actual Number Sheet is where you input your data:
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Enter the MTD (Month to Date) and YTD (Year to Date) values for each KPI.
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Change the month by adjusting the date in Range E1.
This sheet allows you to update the actual data for your market research KPIs, which will automatically update the dashboard.
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4. Target Sheet Tab: Enter Target Data
The Target Sheet is where you can input the target numbers for each KPI:
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Enter the MTD and YTD targets for each KPI.
This allows you to compare actual performance against predefined goals.
5. Previous Year Data Sheet Tab: Compare with Last Year
The Previous Year Data Sheet allows you to enter data from the previous year for comparison:
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Input the MTD and YTD data for the same KPIs, which will be compared against the current year in the dashboard.
This comparison helps track improvements or declines in performance over time.
Click to buy Market Research KPI Dashboard in Google Sheets
6. KPI Definition Sheet Tab: Clear Understanding of KPIs
The KPI Definition Sheet provides definitions for each KPI:
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Input the KPI Name, KPI Group, Unit, Formula, and Definition for each KPI.
This ensures that everyone using the dashboard understands what each KPI represents and how it is calculated.
How to Use the Market Research KPI Dashboard
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Input Data: Enter your actual data for the selected month in the Actual Number Sheet and Target Sheet.
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Track Progress: Use the KPI Trend Sheet to visualize how each KPI is trending compared to its target.
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Analyze Trends: Review the Market Research Dashboard to identify performance gaps, areas of improvement, and success metrics.
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Compare with Last Year: Use the Previous Year Data Sheet to see how current data compares with the previous year’s data.
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Monitor Continuously: Regularly update the data and track the KPIs to make informed, data-driven decisions.
Conclusion
Click to buy Market Research KPI Dashboard in Google Sheets
The Market Research KPI Dashboard in Google Sheets is an essential tool for businesses that want to track and analyze their market research KPIs. By providing a comprehensive overview of key performance indicators, the dashboard helps businesses stay on top of their goals, identify trends, and adjust strategies accordingly.
With its user-friendly interface and flexibility, this dashboard allows businesses to make informed decisions, boost performance, and stay competitive in the market.
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