Data Analysis vs. Data Reporting
There is a saying “sometimes you win, sometimes you learn.” The analogy refers to taking a really big hit when it says “sometimes you learn.”
Data reporting is the process of compiling the information from different processes of a company. Accounting, sales, expenses, inventory are all metrics that need to be measured and understood.
Inaccurate data reporting can lead to making wrong decisions based on inconclusive evidence. This can lead to a hard lesson learned.
The difference between visualizing and reporting.
An analyst or statistician in the business intelligence department will typically take all of your company metrics and turn it into a report. Once the report has been created, you have a visual representation of accounting, sales, expenses, inventory, etc.
After the report is created, it can be further analyzed for forecasts of the future, trimming costs, allocating spend elsewhere, etc. This is data analysis.
So, if an analyst is compiling all of the data and giving you a conclusive summary with suggestions for the future, why should you visualize your data?
A sales executive once said, “Your company pitch should be so simple, that a 3rd grader could understand it.”
The same is true with your data, everyone in the company should be able to understand it.
What do you gain when your company understands the data?
Higher performance comes from understanding. When your team understands that the company is not breaking even on debt to income, fear may jump in when contemplating their next paycheck. When the team understands how the company moves in a forward direction, their process will have clarity.
What if you don’t have a business intelligence team?
PlenaData has the experience to compile your data sets into readable reports for any vertical within your company. They take all of your data (and go deeper than most reporting tools) and create easy to read reports so you can make the right decisions at the right time.
Learn from the mistakes of others, not from your own.
Start visualizing your data today for better decisions. Send us an email at email@example.com to get a free consultation.
Data Visualization, The Health of Your Company
You are in a company meeting where team leaders are rendering an account of quarterly stats. The team leader currently speaking is explaining the stats, numbers, or data using a spreadsheet. These meetings can be ineffective and feel as if they last a lifetime.
“A picture is worth ten thousand words”
In movies with a hospital scene, we’ve seen someone in the hospital who’s heart monitor has flat-lined. You see a line graph that was showing a pulse go flat and you hear a constant beeping sound. You know, within seconds, that the person has passed away.
The heart monitor measures pulse in the form of a graph. Graphs show the relation between variable quantities. It is much easier to read a graph than a list of numbers categorized by time and rate.
While it may take you hours to read a thousand words, you can conceptualize a series of events that took place, in a matter of seconds by reading a graph.
Read graphs not words.
Understanding your company health is essential to your peace of mind and to the decision-making process when projecting how you will move forward.
From employee turn around to job material expenses, Plena Data can create a report that will help you understand any metric you have in mind.
KNOW YOUR COMPANY HEALTH.
- How often are you hiring?
- How much did you spend to complete your last project?
- How often are you running out of inventory?
- How much did closing that sale cost you?
Get real-time metrics today by contacting one of our PlenaData Reps.