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Clicking on the date range, you can choose the global time range that your viewlets all will adhere to (if their individual date range is also set to global). Select one of the pre-set dates to the right, or when set to "Custom" pick a date range on the provided calendar.
Selecting the clock icon will open up the animated timeline which you can play and see the changes as they happened over a set period of time.
The timeline settings offer more control over the playback speed and timeline range:
Selecting the plus button will open up the "Add Viewlet" window. Here you'll find descriptions of each viewlet that can be added to the dashboard view.
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This will allow for further customization of how you desire the dashboard to look, including options such as margins, colors, and styles. This can be useful if you're setting up a view for a specific display such as a kiosk, and it needs to look perfect.