Enterprises all over the world are looking for ways to make operations more efficient. While there are many ways to approach this, increasing the speed of decision-making is one of the most obvious routes.
Here’s how to gain faster insights with reporting analytics.
Democratize Data Analytics and Reporting
When it comes to gaining faster insights with reporting analytics, it’s essential to consider the role business intelligence plays within an organization as a whole. Of course, you’re going to have dedicated data analysts for dealing with complex problems. But what about the everyday kind of questions that need to be answered?
It’s far too slow and inefficient to send all data queries through the analytics department. Not only does this create bottlenecks, leading to longer wait times for everyone, it keeps analysts from working on higher level data problems. Democratizing data analytics with modern business intelligence technologies is an ideal way for enterprises to get results in less time.
Data democratization is the concept of spreading data usage throughout an organization. Instead of everyone having to send data queries to a dedicated team, they can address lower-level problems on their own. Not only does this upskill employees in all departments, it leads to better business decisions.
Spread Embedded Analytics
Enterprises concerned about the speed at which they can derive actionable insights should consider the benefits of embedded analytics. This is a newer breed of business intelligence technologies that allows for applications to be dropped wherever they’re most convenient. There are a few ways embedded analytics can be used within an organization to facilitate faster decision-making.
There’s an inherent issue with forcing employees to switch between multiple separate business intelligence technologies throughout the day. Even though increasing data democratization can lead to better business outcomes, expecting workers to be constantly rotating through different platforms and applications can be confusing and tedious. Above all, it’s not efficient.
Embedded analytics allows for enterprises to build workflows and business intelligence around the exact needs of their employees, as opposed to telling employees to change the way they work to compensate for their tools. Clearly, there’s an advantage to being able to consolidate all workflows as much as possible.
Think about this in terms of reporting. If your enterprise is using a few different business intelligence technologies, workers will have to be constantly switching between them in order to access necessary reports. Embedded analytics allow for all essential workflow reporting and analytics tools to be centralized in one customizable dashboard. Not only is this more convenient for workers, it will allow them to spend more time drilling down to solve problems than switching between screens.
Empower Ad Hoc Analytics
In terms of making faster data-driven decisions, few business intelligence technologies do more on this front than ad hoc analytics. As already mentioned, it’s not the best use of anyone’s time to have all analytics queries processed by the dedicated analytics department. Furthermore, it’s not always reasonable to do this, especially if information is needed in a tight turnaround window.
Ad hoc analytics is a solution for these problems. By empowering employees to find answers in data as they need to, the whole internal enterprise analytics system becomes lighter and more agile. For instance, if a salesperson needs to get updated numbers right before walking into a presentation, they can do that by running ad hoc analysis. Thanks to cloud-based business intelligence technologies, this can be done anywhere with a connection to the internet.
Not only is this incredibly convenient, it can vastly improve decision-making in terms of speed and accuracy. Organizations looking to streamline operations through busines intelligence technologies should seriously consider the benefits of adopting ad hoc analytics.
Clearly, there are strong motivations for speeding up the analytics process. Time is money in the business world. The more efficiently you use it, the more robust the bottom line. Think about deploying some of these ways of gaining faster insights through analytics.