Good reporting should prepare and communicate information in a way that makes entrepreneurial decisions possible. The quality of these decisions depends on how well reporting performs this task. It is important to present the decision-makers with the information they need at the right time. The basis for this is the quality of the data that underlies this information and the way in which it is processed.
Companies today have a lot of data at their disposal. In addition to company-internal key figures, external information can also be included in the evaluations. The influence of social developments, for example, can be included in corporate management. The digitization of many areas of life continues to increase the amount of data sources available and potentially important information. For reporting, the challenge now is to work with very large amounts of information. Classic reporting methods, which are mainly based on Excel, are, therefore, increasingly reaching their limits.
Benefits of business intelligence for your reporting
Reporting – supported by Business Intelligence
The alternative to Excel analysis and reporting methods is a business intelligence solution. BI tools can handle large amounts of data from various internal and external sources. With little manual effort, you can use them to create analyses and reports for better business decisions. A big advantage of BI solutions is that they take into account the cause-and-effect chains that exist within a company. Using drill-down functions, KPIs can be examined down to the most detailed level. This will help you better understand the causes of certain developments. The whole company becomes more transparent. Analyses are more efficient and less prone to errors. Working with uniformly defined key figures throughout the company is no longer a problem.
A quick overview – dashboarding for management
For reporting, business intelligence tools offer various visualization options to help communicate analysis results in a way that is quickly and easily understood. Dashboards or management cockpits play a special role in this regard. They are designed to display all crucial information at a glance, often using traffic light colours or similar forms of visualization to highlight critical developments of certain key figures. Ideally, a good dashboard is based on real-time data. With a powerful BI system as the basis, this is not a problem. It is also important that the dashboards can be used with mobile devices so that users can find out about the latest developments at any time and any place.
Better reports for all departments of your company
However, BI-supported reporting does not only benefit management. At any business level, business intelligence improves reporting quality. In this way, every decision maker receives the information that is important to her or him in a clear and memorable form. Regular reports keep employees up to date, with the content, level of detail and time interval precisely tailored to the individual information needs. In addition, business intelligence tools allow for ad hoc reports. These are unscheduled reports that provide customised information in specific situations. These ad hoc queries are no longer a problem with a BI tool. Business intelligence enables better reporting and thus higher decision quality at every company level.
better reporting with bdg
We will support you in setting up a business intelligence system. We use suitable tools, for example from Jedox, BOARD or Qlik. We adapt these to the specific needs of your company and train you in their application. On the basis of our competencies and experiences, analysis and reporting possibilities are created that sustainably improve business decisions and your company’s success.