The effective date filter is used to change the date on your story. The date filter can be applied at the global or the local chart level.The date filter is uniquely linked to specific dates for each metric. Therefore, when you filter on effective date, it will filter each of the metrics with their respective dates.Example: if you have Time to Hire and Time to Fill on a story and filter the effective date to the last 3 months - the time to hire will filter on the time to hire end date, and time to fill will filter on the time to fill end date.Each of those dates will be standard unless you’ve requested to change them for your company.
If you add a local date filter on a chart it will override any global date filter that is applied. See Global vs Local Filters for more information on the interaction.