You can schedule a saved search, then use this saved search to populate graphs/tables in your dashboard.
The dashboard will render the last results of the scheduled saved search rather than executing the search each time the dashboard loads.
You'll need to run a saved search as often as you want the cached result to be valid. For example, if you want a 5-minute expire on a search, you'll need to run it every five minutes.
And just to add ,if Scheduled Saved Searches aren't going to be a feasible option for you, then you may also want to look at performance tuning your search with techniques like Summary Indexing , http://docs.splunk.com/Documentation/Splunk/latest/Knowledge/Usesummaryindexing
Is it possible to do something like this on splunk storm? I don't think I can schedule searches, but if I run one, then could the dashboard display the cached results, rather than running the search again?