The age of Big Data has gained momentum with more and more businesses understanding the importance of data analysis and visualisation. With more companies getting on the data bandwagon and trying to make data-based decisions; it is crucial that the latest tools are used to analyse, visualise and share information.
Gone are the days when only the management team was interested in company’s performance and growth strategies. These days’ employees prefer to be notified about the business’s performance. In fact a survey indicates 25% of employee attrition is a result of not being privy to the company performance details. In addition; being aware of an organisation’s performance has significantly positive impact on employee productivity.
Factors to Consider While Evaluating Enterprise Reporting Systems.
A global survey has reported 20% of modern companies still use outdated reporting tools such as spreadsheets to communicate with internal teams. Spreadsheets are amazing tools and provide users with many interesting options to analyse data; however it does not offer any business intelligence related statistics. Due to the clear limitations of spreadsheets enterprises should consider investing in a business intelligence tool for data analysis and visualisation.
To cater to modern day businesses an efficient enterprise reporting tool MUST offer the following key functions among others.
Simple and easy to use and share
As soon as a new technology is introduced the question about ease of operating the software often precedes its price. Although the analysis software is more often simple to use for the data analyst; it may not be the same for the management team who need to make strategic decisions or for employees wishing to access the company’s progress chart.
As a result, an effective enterprise reporting software should allow end users to access and analyse information from all data sources with the click of a button without having to worry about formulas and filters.
As decisions are to be made based on data analysis, it is fair that organisations expect the data to be analysed on real-time basis. The business intelligence platform should be able to extract data from different platforms such as excel spreadsheets, cloud services, on-premises database and/or live streaming data sources for real-time analysis.
Ability to focus on relevant data
An efficient analytics platform should provide the capability of organising the data in different ways transforming them to interesting visuals allowing decision makers to focus on the key factors that matter without the need to contact the analyst team for additional reports. It should also be able to offer the business intelligence required to spot vital trends enabling effective strategic decision making.
Maintain historical data trail
While it is important to understand and analyse the current happenings, it is crucial to maintain historical data trail. Instead of maintaining reports in excel spreadsheets or other corruptible databases; enterprise should look for a secure platform that maintains historical records and provides easy access to information.
Why Power BI is the Perfect Enterprise Reporting Tool
Data should empower professionals to discover trends and make critical decisions. A business intelligence and data analytics platform such as Power BI provides organisations; the ability to extract information from multiple sources, visualise data and generate charts, graphs and visual dashboards that is easily shared with internal and external teams.
With Gartner ranking Microsoft Power BI as ‘Leader’ for the 9th consecutive year; more and more companies are choosing Power BI as their reporting tool. Also, Microsoft Power BI is available free for eligible Office 365 users. Check out our recent article about how Power BI is combines with Office 365 for Reporting.
With Power BI businesses are able to capture all their on-premises and cloud data in a centralised location providing easy access at all times. Microsoft Power BI is the ‘New Normal of Enterprise Reporting’. Power BI offers data analysts a free-form canvas where they can create stunning visualisations and interactive dashboards.
Gone are the age old days of sharing reports via email or shared networks. Microsoft Power BI allows users to securely share reports and dashboards with internal and external teams. Any changes to the base data generates user notifications enabling teams to take immediate/appropriate action as required. Businesses interested in bragging about their fantastic customer service trends or high-product sales; can now quickly embed their data visualisations on their corporate website with Microsoft Power BI.
Why stick with outdated reporting tools; when you can experience the benefits of the leading business intelligence and analytics platform for free! Contact Empower IT for more information on how Power BI can change the way you generate reports and make decisions.