Data reports are documents or presentations that organize and summarize information collected to provide insights, track performance, and/or support decision-making. Businesses everywhere rely on monitoring key performance indicators (KPIs) and trends of their products, sales, and customers to determine how they can continually improve processes, customer experiences and satisfaction, and overall strategy and success. Data reports are essential to accomplishing all of this.
Different types of data reports
In order to succeed, businesses must make data-driven decisions; they have to understand what’s working, what isn’t, and why. This is where data reporting comes in.
There are several types of data reports your business can use. The two most common types are static and interactive/dynamic reports.
Static reporting can be set up to generate reports on the same information parameters hourly, weekly, monthly, quarterly—whatever duration you choose.
Interactive reports, also called dynamic reports, allow you to work with real-time data to understand what is currently happening.
There are also subtypes of static and interactive/dynamic reports that are extremely helpful for your business to utilize. Click here to read more about these subtypes.
What should the data reporting process look like?
In order to fully utilize data reports, you need to come up with a plan.
Here are a few considerations to make before implementing a data reporting process:
- Decide what information parameters you need to include.
- Decide which types of reports you need to be implemented.
- Decide who will set up, create, and report who needs to know the information being reported on.
- Decide which data reporting tool you will use and make sure it is capable of creating the reports you need.
Ready to learn more?
Data reports can significantly improve your team’s knowledge of your business. From understanding past performance to predicting what the future may hold, data reports support data-driven decision-making, improve insights among teams, and optimize sales, marketing, and customer service efforts.
In our next blog post, we will cover what you need to know when choosing a data report more extensively.
To learn how Popdock, eOne’s data automation software and virtual integration platform, can help your team create the reports your team needs, contact our sales team at sales@eonesolutions.com or 888-319-3663 ext. 1.
