diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6399a119ea..7c19a41a64 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -198,6 +198,9 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 - `LightningCLI` now aborts with a clearer message if config already exists and disables save config during `fast_dev_run`([#7963](https://github.com/PyTorchLightning/pytorch-lightning/pull/7963))
 
 
+- Improve `PyTorchProfiler` chrome traces names ([#8009](https://github.com/PyTorchLightning/pytorch-lightning/pull/8009))
+
+
 - `Trainer(resume_from_checkpoint=...)` now restores the model directly after `LightningModule.setup()`, which is before `LightningModule.configure_sharded_model()` ([#7652](https://github.com/PyTorchLightning/pytorch-lightning/pull/7652))
 
 
diff --git a/pytorch_lightning/profiler/base.py b/pytorch_lightning/profiler/base.py
index d327d34e8d..8b5bf5483d 100644
--- a/pytorch_lightning/profiler/base.py
+++ b/pytorch_lightning/profiler/base.py
@@ -112,14 +112,19 @@ class BaseProfiler(AbstractProfiler):
         if self._local_rank in (None, 0):
             log.info(*args, **kwargs)
 
-    def _prepare_filename(self, extension: str = ".txt") -> str:
-        filename = ""
+    def _prepare_filename(
+        self, action_name: Optional[str] = None, extension: str = ".txt", split_token: str = "-"
+    ) -> str:
+        args = []
         if self._stage is not None:
-            filename += f"{self._stage}-"
-        filename += str(self.filename)
+            args.append(self._stage)
+        if self.filename:
+            args.append(self.filename)
         if self._local_rank is not None:
-            filename += f"-{self._local_rank}"
-        filename += extension
+            args.append(str(self._local_rank))
+        if action_name is not None:
+            args.append(action_name)
+        filename = split_token.join(args) + extension
         return filename
 
     def _prepare_streams(self) -> None:
diff --git a/pytorch_lightning/profiler/pytorch.py b/pytorch_lightning/profiler/pytorch.py
index e04f880063..0c0bde515a 100644
--- a/pytorch_lightning/profiler/pytorch.py
+++ b/pytorch_lightning/profiler/pytorch.py
@@ -427,11 +427,15 @@ class PyTorchProfiler(BaseProfiler):
             def on_trace_ready(profiler):
                 if self.dirpath is not None:
                     if self._export_to_chrome:
-                        handler = tensorboard_trace_handler(self.dirpath, self._prepare_filename(extension=""))
+                        handler = tensorboard_trace_handler(
+                            self.dirpath, self._prepare_filename(action_name=action_name, extension="")
+                        )
                         handler(profiler)
 
                     if self._export_to_flame_graph:
-                        path = os.path.join(self.dirpath, self._prepare_filename(extension=".stack"))
+                        path = os.path.join(
+                            self.dirpath, self._prepare_filename(action_name=action_name, extension=".stack")
+                        )
                         profiler.export_stacks(path, metric=self._metric)
                 else:
                     rank_zero_warn("The PyTorchProfiler failed to export trace as `dirpath` is None")
diff --git a/tests/test_profiler.py b/tests/test_profiler.py
index acc2bac1c4..d940d4426b 100644
--- a/tests/test_profiler.py
+++ b/tests/test_profiler.py
@@ -331,8 +331,8 @@ def test_pytorch_profiler_trainer_ddp(tmpdir, pytorch_profiler):
         files = [file for file in files if file.endswith('.json')]
         assert len(files) == 2, files
         local_rank = trainer.local_rank
-        assert any(f'training_step_{local_rank}' in f for f in files)
-        assert any(f'validation_step_{local_rank}' in f for f in files)
+        assert any(f'{local_rank}-training_step_and_backward' in f for f in files)
+        assert any(f'{local_rank}-validation_step' in f for f in files)
 
 
 def test_pytorch_profiler_trainer_test(tmpdir):