How can you use data visualization to track grant expenses?

1 Choose the right data

The first step to use data visualization to track grant expenses is to choose the right data. You need to identify the key indicators and metrics that reflect your grant objectives, budget, and performance. For example, you may want to track the total amount spent, the percentage of funds allocated to different categories, the variance between planned and actual expenses, and the impact of your activities on your target outcomes. You also need to ensure that your data is accurate, complete, and consistent, and that you have access to the sources and systems that collect and store your data.

2 Select the appropriate tools

The second step to use data visualization to track grant expenses is to select the appropriate tools. You need to choose the software and platforms that allow you to create, edit, and share your data visualizations. There are many options available, ranging from simple spreadsheet applications to advanced business intelligence and analytics solutions. Some factors to consider when selecting the tools are: the cost, the ease of use, the functionality, the compatibility, and the security. You may also want to consult with your grantor, your team, and your stakeholders to determine their preferences and requirements.

3 Design the visuals

The third step to use data visualization to track grant expenses is to design the visuals. You need to choose the types and formats of data visualizations that best suit your data and your purpose. For example, you may use pie charts to show the proportions of funds spent on different categories, line charts to show the trends and patterns of expenses over time, or maps to show the geographic distribution of your activities and impact. You also need to follow some best practices to make your data visualizations clear, effective, and engaging. For example, you should use colors, labels, legends, and titles to enhance your data visualizations, avoid clutter and distortion, and align your data visualizations with your grant branding and reporting standards.

4 Communicate the insights

The fourth and final step to use data visualization to track grant expenses is to communicate the insights. You need to use your data visualizations to tell a compelling story about your grant progress, achievements, and challenges. You should highlight the key findings, explain the causes and consequences, and provide recommendations and actions. You should also tailor your data visualizations to your audience, context, and medium. For example, you may use different levels of detail, interactivity, and frequency depending on whether you are presenting your data visualizations to your grantor, your team, or your beneficiaries. You should also solicit feedback and input from your audience to improve your data visualizations and your grant performance.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?