Changing Label Format of a Chart in Dynamics CRM 2011

I got a question today on how to change a chart in CRM 2011 to only display 2 decimal digits for a number field which contains 5 decimal digits. Following is a screenshot of the data field on a CRM form.








Here is a solution on this situation:

1. Export the chart.
2. Modify the downloaded chart XML file to add a LabelFormat property to the Series node. "F2" is the format specifier for a number with 2 decimal digits.
3. Import the updated chart XML file.
4. Publish the customization
5. Following is the new chart