How Bi Reporting Is Superior To Traditional Reporting Practices

By Author: Bappaditta Jana
Total Articles: 79
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In comparison to traditional reporting techniques, BI reporting tools offer a number of benefits, including the capacity to analyze data effectively, make wiser decisions, and increase productivity.

In the past, businesses frequently used conventional techniques for their reporting requirements. However, when dealing with vast amounts of data, adopting these methods is frequently time-consuming and ineffective. By offering a variety of benefits, BI reporting solutions can assist in overcoming these difficulties.

Let us learn about these benefits.

1. BI reporting provides a single source of data.

Businesses frequently store data in a variety of places, including third-party, ERP, and CRM systems. In the past, data had to be manually merged into a single source, usually a spreadsheet.

While spreadsheets have their uses, they are not a viable solution for reporting because they are infamously error-prone. The entire report will be invalidated by a mistake in a single cell.

Additionally, a spreadsheet is frequently shared by several managers.
It's difficult to ensure ...
... that everyone is using the most recent version of a document when numerous versions are produced.

However, BI reporting combines information about a company from various sources so that customers always have access to the same reliable source. Data cannot be unintentionally deleted or changed since heterogeneous data has been consolidated into a single, distinct repository.
Additionally, data is shown in real-time on a BI dashboard so that everyone works with the most up-to-date information.

2. BI reporting provides detailed information.

Traditional reports are static and only give a generalized overview of the data. This means that you cannot look into the fundamental causes of what you are observing.

Additionally, static reports only supply the data you ask for.
You are only getting half the narrative because you can't probe for the information you aren't aware is there.

A lack of information might result in several opportunities being lost.
On the other hand, dynamic BI reporting enables users to choose a measure and go deeper into the underlying data.

Users are given the authority to query the data in this manner and follow their line of reasoning to find the solutions. For example, overall sales numbers might be on track. Drilling down, however, will show sales data broken down by area, product category, and product type.

This thorough study may show that one product is outperforming others, concealing the other product's dropping sales. The sales staff can try to increase sales of the failing product to raise overall sales revenue with the use of this level of granular data.

3. Data visualization via BI reporting.

BI reporting displays data as visualizations to help make difficult information easier to understand. It is simpler to understand, remember, and recall information when it is presented graphically. Maps, pie charts, and simple bar charts are a few examples of visualizations.

Alternatively, depending on your demands, they might be more intricate models like waterfalls, funnels, or gauges. Your team will be able to view every element influencing performance in either scenario. It is simpler to spot patterns, trends, and fresh opportunities when they are visualized.

To help your team respond in ways that increase sales and help you stay one step ahead of the competition, they give you the capacity to see changes in client behavior.

If you aim to transform your business and achieve unprecedented results, you can do so by replacing traditional methods with more advanced BI tools.

Bappaditta Jana is a blogger who loves to spend his free time engaging in sports or gardening. Based in Kolkata, he is currently working with EasyReports an IT firm that has developed a BI reporting tool that can easily integrate with Tally ERP and many other applications.