Organizations rely more on their information than ever in order to make educated decisions and ensure that they are on the right path for growth. As a result, analytics and reporting tools are essential to presenting the data in a way that's easy to understand and provides the viewer with the relevant knowledge they need. While many businesses still look at these processes as being a challenge, they can gain significant benefits from using the features effectively and generating actionable insights.
Some companies are leveraging big data for their presentations and to demonstrate important trends within their operations. According to recent research by Gartner, analytics treat information as an asset, and is where the magic is happening within businesses to improve budgeting processes and marketing strategies, ZDNet reported. As consumers begin to care more about how these metrics will improve their experiences, by 2015, big data will be seen as a regular part of operations. In order to prepare for this development, decision-makers will need to provide the best tools to get the job done, and ensure that users understand how to use them effectively. With a report designer and cloud-based functions, employees will be able to leverage more friendly solutions - however, they must still know how to work with the system.
"It's not easy; let's face it, we're not all very good at calculating the value of data," Gartner vice president Frank Buytendijk said. "Easy-to-use tools does not mean it leads to better decisions; if you don't know what you're doing, it can lead to spectacular failure."
Making value from analytics processes
With big data, there is a wide range of trends that can be identified and a massive amount of information that can be collected. However, Midsize Insider contributor Doug Bonderud noted that some managers are still unsure how to handle challenges with the technology and don't have the resources to work with the data influx. This in turn leaves underused information and prevents organizations from creating true value from their system. In order to maximize benefits and drive positive changes, organizations must ensure that they're providing solutions that are accessible to a variety of skill sets and are scalable to the amount of data being collected. By appealing to the workers that will be utilizing the program, executives will be able to ensure that they meet user demands, rather than solely focusing on the goals of the business. After all, if the solution is clunky to navigate and difficult to comprehend, the company will not be as productive or efficient as it needs to be.
"Analytics efficiency helps turn midmarket players into leaders by creating a foundation of data-driven decisions," according to the source. "There is no need to strive for total domination. The right qualitative tools give context to seemingly unrelated quantitative data sets and help to drive holistic, agile understanding."
As big data becomes more influential in business processes, decision-makers will need reporting tools that will support these functions. Choosing a solution based on user requirements will ensure that businesses maximize their benefits and spur positive changes.