Author name: sandrsn2@yahoo.com

Enhancing Business Transparency & Business Results with Actionable Reporting Dashboards

In today’s business landscape, fostering transparency through actionable reporting dashboards (reporting) is crucial for organizations aiming to make informed decisions and drive optimal results. One powerful that facilitates transparency is reporting. By presenting key performance indicators (KPIs) in a comprehensive manner, reporting enable companies to gain valuable insights and enable them to effectively manage their operations. This blog post explores the significance of reporting, highlighting how they should answer the fundamental questions of “what,” “why,” and “what to do about it.” At its core, a well-designed report provides a snapshot of your business’s KPIs, revealing “what” is happening within your organization. By clearly displaying how your business is performing, such as revenue decreasing by 5% to $45M this month compared to the previous one, the report offers a transparent view of your business’s current state. This transparency allows you to grasp the reality and make data-driven decisions accordingly. Moving beyond the “what,” a comprehensive report also addresses the critical question of “why.” By delving into the underlying causes of the observed trends, the report offers insights into the reasons behind specific outcomes. For instance, a 5% decrease in revenue might be attributed to fewer sales from the mobile app. Understanding the “why” empowers businesses to identify areas for improvement and make strategic adjustments to their operations. Equally important, a valuable report goes beyond observation and provides guidance on “what to do about it.” By offering actionable insights, the report acts as a compass for decision-making. For instance, if the report reveals that valuable customers are not engaging with the mobile app, it may suggest allocating more marketing resources to promote the app and drive customer adoption. These actionable recommendations steer businesses towards the necessary steps to address the changes and optimize their performance. In summary, a well-crafted report delivers the essential elements of “what,” “why,” and “what to do about it” to drive business success. And NarraViz helps with these elements instantly. It provides a clear understanding of your business’s performance, illuminates the reasons behind the observed trends, and offers practical recommendations for improvement. By leveraging the power of effective reporting, organizations can optimize their operations, make data-driven decisions, and foster transparency across the board. Harnessing the potential of reporting dashboards is an asset for any company, facilitating productive discussions and enabling informed actions based on key insights. hashtag#businessintelligence hashtag#reporting hashtag#dashboard hashtag#data hashtag#analytics hashtag#business

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What are the most effective techniques for identifying Business Intelligence (BI) problems? (Identifying Data Issues)

There are several effective techniques for identifying BI problems in real time. Good data is one of the most important criterion for any BI solution. Good data builds trust with stakeholders and allows stakeholders to make data-driven decisions. Here are some of the things to do that you can do to ensure your organization identifies issues in real-time. Have well-defined problem(s) and objectives This will allow you to have clarity on your overall goal and what you are trying to accomplish. This will align all stakeholders (business, technology, and analytics) – so that everyone knows what the data is used for, and you have a joint effort to identify BI problems. Identify key metrics After defining the problem, the next step is to identify what success looks like and what metrics to calculate to measure success. Monitor Key Metrics One way of quickly identifying BI problems is to monitor key metrics, over time, as issues will be visible in the trend. For example, if you notice a trend with a key metric has changed when nothing in the business has changed, this could signal a data issue. Send automated alerts for outlying data and anomalies Sending automated alerts when data falls outside the normal is a quick way to catch data issues – especially when data is transferred or processed. This allows for a proactive approach in addressing issues. Have a fail-over technique? For any parts of the data journey, use a fail-over technique when possible. If systems and processes (such as ETL, ELT, data process, API calls, client-application processing, etc.) fail, there should be a standby system that takes over to continue the data processes. If a data process does not complete, it should automatically re-run so that there are no issues with the data. Have an updated & robust data dictionary Having a well-documented data dictionary and data processes further enables a collaborative effort in identifying BI problems The more people know and understand the data the better. Be diligent about data governance and data management Data governance and data management are important components of any data strategy and can help minimize data issues and improve data quality. Identify data owners and communication plan Data owners should be identified from the application data level to the analytics & BI tables. This should include responsibilities, SLAs, and a communication plan. For example, a change in the client application could create a BI problem; therefore, communication cross-functionally is paramount. Create Audit Reports Audit reports and data visualization audit reports should have overall counts, counts over time, missing data counts, and other audit metrics. These types of reports help to visually identify issues. Use Machine Learning to identify potential BI problems and send alerts Machine Learning (ML) can be used to identify anomalies in real time and alerts can be sent to the responsible data owner to check the data. AI agents can also be used to automate tasks. What I have shared above are a few ways to identify BI problems; however, there are other ways to consider. Overall, prioritizing data governance, data quality initiatives, communication, and working to proactively identify data issues reduce BI problems.

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