One of the most important aspects of business intelligence would have to be analytical reporting, and it has inspired companies to adopt a mindset that is more strategic. If you are new to analytical reporting, it is important to delve deeper into it.
First of all, an analytical report can be defined as a kind of business report that will utilize quantitative and qualitative company data so that they can analyze a business strategy and allow employees to make all their decisions as data-driven as possible. Does that sound like a tremendous asset to your business? That’s because it is. However, how do you build one of these reports from the ground up? Here are some steps to consider:
Do Some Digital Dashboards
Of course, you would start by doing digital dashboards. You have to think of the medium in terms of quality, and this would often mean a digital dashboard. Yes, you could use a spreadsheet, whitepaper, or a Word document, but these can be a very disorganized way to do your tasks.
On the other hand, if you use an online dashboard, you will access a whole host of dynamic KPIs and insights in a way that is much more easily digestible and actionable. You won’t have to waste valuable time sifting through a bunch of spreadsheets.
Go With The Right Chart Types
The most important step with a solid analytical report is to go with the right chart type. By choosing the right chart type, you will be able to appropriately represent the information that you want to convey with your data report.
Additionally, you will be able to enhance the productivity of your team and their communication. Common charts to accomplish this purpose would include line charts, bar charts, maps, bubble plots, and area charts.
Don’t Forget About Best Design Practices
When it comes to best design practices, you want to go with a concise and clear layout. If you want your presentation to be powerful and prolific, you need to make sure that all of the answers regarding the performance of your business are there in a clear-cut manner.
Charts and widgets are fine in this regard; just make sure that you don’t place too many in the presentation or it might become a distraction.
Ensure You Are Working With The Right KPI
Picking the right KPI is vital for your business objectives because it will give you a wealth of invaluable facts both from the past and present at your fingertips. Selecting the right KPI template will not only build up your performance and business goals, but it will give you the ability to spot strengths and weaknesses in your business that much easier.
Make Your Reports Accessible
Ideally, you will want your analysis reports to be available on a variety of platforms, including not just laptops, but also cell phones, tablets, and a variety of other mediums.
Have Some Interactive Features
In order to make your presentation solid gold, you would ideally want to make your features as interactive as possible. Such things as clickable graphs and charts, detailed data visualization, the ability to zoom in, and practical information toolkits will help give you the potential for a more healthy return on investment (ROI).
Get Internal Feedback and Keep Improving
What about your data intelligence? This is where you get internal feedback from your stakeholders and also take what they have said to heart. You never stop improving on everything regarding your presentation, including your data intelligence! According to Blackbaud, “In a world steered by data, your organization needs the ability to transform information into insight. The stakes are high when you’re mission-driven. Analytics is the key to working efficiently and effectively to reach your goals.”