In any business decision, it's essential to have the most up-to-date information on hand to ensure that managers are making the right choice for the advancement of the organization. In order to drive this effort, many companies have picked up big data initiatives, but are finding the trend more complicated than they originally thought. With the massive amount of data that enterprises collect on a daily basis, it can be difficult to parse through it all and pick out the important parts that will innovate operations. Reporting tools can help substantially streamline this process by automatically sorting through the statistics and pulling relevant results based on user queries.
As data becomes more integral to advancing organization functionality, it will be necessary to present it in a way that viewers will be able to understand. Having a sheet full of numbers can distract individuals away from what is important. However, by using a report designer, the metrics can be grouped in charts and images that demonstrate how various aspects of the business are faring without losing the focus on the data itself. Visualization is becoming a popular way for companies to present their statistics and ensure that viewers readily grasp the concept. Whether its showing how call numbers are changing, revenue reports or other essential elements, displaying data through a picture will help identify areas the need improvement and drive for better overall service.
Visualizing integral data for improvements
As more organizations adopt big data initiatives, they must consider what they are going to use all of their information for and how to gain insight from the metrics to meet their goals. For these needs, many companies have turned to business intelligence programs. However, Forbes contributor Brad Peters noted that while visualization is a powerful tool, it's not enough by itself to reap the maximum amount of competitive benefits. Reporting and dashboarding tools should be used in conjunction with visualization to help the firm succeed in its endeavors and realize all of its goals. Reporting tools enable users to automate data processes while dashboarding is leveraged to track how this information is utilized. When paired with visualization, organizations will be able to experiment with various predictive analyses and draw insights from the data.
"The truth is that the prioritization is what will set apart the companies that succeed and those that are constantly playing catch-up," Peters wrote. "The crucial need in any enterprise is the effective dissemination of useful data to the people in the organization making important daily, even hourly, decisions about the near-term health of the company."
Drawing the most value from data processes
With the amount of data being generated on a daily basis, sorting through it is a considerable and taxing challenge, leaving many enterprises to miss out on substantial opportunities if they do not have the appropriate tools. The Washington Post noted that business will have to not only accept big data processes, but also understand that all information has some value. In order to get the most out of these statistics, users will have to go farther than just collecting metrics from mobile device use. Incorporated information from customer interactions, revenue developments, inventory counts and other essential enterprise aspects will help businesses identify how their services are being used and what areas can be improved on.
"How much should you carry, when should you liquidate, when should you stock up — they are all questions small business owners are finding it easier to answer with the right data analytics," Wasp Barcode Technologies director of marketing Brian Sutter said.