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1. Yes. You create the worksheets to get the visualization you want and then place each worksheet into a pane in the dashboard.
2. Can be done as easily as creating two worksheets, one with the chart and one with the text. You would then drop them into a dashboard sheet. That's an easy way.
The tool is pretty flexible and I'm sure there are other ways but I like to keep things simple since I won't always be around to maintain the reports.
Thanks Toby for the answer. I was aware of the above method of doing it. Just to find whether we have any other way to do it.