Curious about the new dynamic gauge dashboard component in Winter '22? @Anne Crawford figured out how to use it! Here's her advice, using a Program Management Module example: 

Dynamic Gauge charts now give you the flexibility to view your measure and target in real time 

In this example, you see a dashboard measuring our year to date service deliveries as a percentage against our annual delivery goals for two of the services we offer. So on the left, we see that we’ve delivered 23 Coaching Skills classes, which is 46% of our annual goal. And on the right, we see that we’ve delivered 96 Master Classes which is 48% of our annual goal. 

The magic of the dynamic dashboard gauge is that if I  update the annual goal on the Service record my dashboard gauge will automatically calibrate to my new goal! 

To set this up I had to do a few things:

• First enable the Dynamic Dashboards (Beta) in Report and Dashboard Settings in Setup
• Then create your filtered reports. For this dashboard I created two reports -- one filtering on my Coaching Skills service  and the other filtering on my Master Class service. You need to have at least one grouping in the report. I grouped my report by Program, Service, and then summarized the quantity field. 
• Next add the Gauge component to a new or existing dashboard and select the Dynamic option
• Then choose your chart metric -- in this case the number of classes, which comes from the Quantity field in our report. 
• Then choose the target object to set your metric against -- in this case Service
• Next select the record that holds the target field-- in this case the Coaching Skills program
• Finally choose the target field to measure again -- in this case it’s a custom field that I created to capture the annual goal for each service we offer. It’s on the service page layout. 
• When you set the breakpoints, you set them to percentages rather than fixed numeric values. I set mine to 25%, 50% and 100%

The great thing is that if I update my annual goal for a particular service, I don’t have to remember to update my dashboard component. That will happen automatically! So if I change my Coaching Skills class goal from 50 to 75 in the future my dashboard will automatically update according to the percentages I set in the gauge component. 

Release Notes: https://help.salesforce.com/s/articleView?id=release-notes.rn_rd_dashboards_dynamic_gauge_charts.htm&type=5&release=234