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A dashboard is the graphical representation of the data generated by a report (or multiple reports) at certain point in time. So it's a snapshot of data, to obtain the latest data you need to refresh them either manually or in a scheduled manner.
Please refer the below links:
https://help.salesforce.com/apex/HTViewHelpDoc?id=dashboards_create.htm
https://resources.docs.salesforce.com/sfdc/pdf/workbook_analytics.pdf
You can check the trailhead modules to get more understanding on Dashboards:
https://developer.salesforce.com/trailhead/en/module/reports_dashboards
Hope this helps you!
Best Regards,
Deepthi