In today’s highly competitive, digital market, any company requires updated data and a thorough analysis that will lead the way to actionable items. Business intelligence reports use services and software that turn data into actionable insights that your company can use for both its tactical and strategic decisions. A thorough business intelligence report will provide stakeholders and managers the key information and analysis around these findings in the form of graphs, charts, summaries, reports, and dashboards.
To create a smart intelligence report, your business can utilize a variety of tools that yield said data and the proper formats to present the analysis. Note that the information and analysis gathered doesn’t necessarily recommend to managers what they should do. Instead, it provides relevant individuals an opportunity to take a closer look at the data, observe the latest trends, and see what insights are useful to make the best decisions for their business. This information can show how customers perceive the brand through marketing analytics, how sales are contributing to business profit, or how executive-level strategies are influencing day to day activities.
Are you a business leader that needs more customized and high-level data analyses? Here are three genius ways to create intelligence reports.
1. Select the Best Business Intelligence Tool to Fit Your Needs
There are several business intelligence tools in the market, from web-based platforms to in-memory technology-based systems. All these can be accessed online and come at an affordable rate compared to a self-made system that a hired hand will still have to start and sustain.
Are you a startup seeking insights on probabilities or what-if scenarios for your future strategies? iDashboards present your data visually such that you can easily monitor and analyze data, and at the same time enable “what if” scenarios to include in your strategic planning. It utilizes multiple data sources that are updated by the minute, so the strategies developed come from the latest information.
Acquiring data from different departments means accessing information from various platforms or tools. Marketing might be using CRM while finance is using another type of business intelligence tool. Accumulating all this information manually can take time. Save yourself the hassle with Atlassian’s Confluence. It is a highly recommended tool for companies that deal with a lot of documents and manage several projects with multiple team collaborations. With Confluence, you can pull data sources and formats from each group without having to refer to outside sources. Dashboards can be created such that it shows the tables, charts, and graphs on one page. The insights you need are ready as long as everyone is set up on this platform.
2. Individualize Your Intelligence Reports
A comprehensive business intelligence report need not overwhelm the writer and its receivers. You can delegate the reports according to their scope, breaking it down according to department (e.g. sales, finance, and marketing). This way, your report also targets a specific department and its goals. You can find the specific data needed from the platform your company uses. Utilize the dashboard of your chosen software so that a complete overview is presented according to the department’s objectives and how these have been achieved within the given time frame.
3. Use Big Data from Your Customer Experience Team
At the end of the day, your company will always prioritize the ones who provide continuous revenue and opportunities for growth: the customers. Their perception of the brand, its product and/or services, and how they perceive their experience can be drawn from different sources, such as your company’s Net Promoter Score, direct interaction via chat or email, social media data, and other means of communicating with customers. Look into how customers are being engaged and how they respond to this engagement to better understand your market. This information gives you a holistic overview of customers, allowing you to analyze the data accordingly and see what insights are useful for improving their experience.
Bonus: Build a Team to Create Business Intelligence Reports
Don’t have the capacity to gather data thoroughly and provide the necessary analysis for a productive and useful report? Outsourcing your research and data teams to a reliable research & data solutions partner saves you time, money, and effort, while also letting you focus on business growth and day-to-day operations. A globally trusted partner goes beyond the usual metric and hires a dedicated team to convert the data into valuable information, which enables better business decisions on your end.
Infinit-O is a trusted research & data solutions partner that can help you build and hire a dedicated team of research professionals of every level including data scientists designed specifically for your unique needs, with cost savings of up to 70%. We can help you meet your goals, whether they be growth, better productivity or simply bottom line cost savings. With access to excellent talent who use cutting-edge technology, we provide some of the best strategic solutions for your business. We are ISO-certified and GDPR-compliant, so your company and client data are safe with us.