? Reporting & Analytics ?
Reporting takes factual data and presents it. There’s no judgement or insight added. It extracts raw data from various data sources, allows comparison, and makes the information easier to understand by summarizing the data in tables, charts and dashboards.
In the business world you’ll see reporting a lot more because it’s easier to do than analytics. An example of this is a chart showing how many calls and emails top sale reps execute versus low performing reps.
Reporting is valuable. But it stops short from analytics.
When it comes to down to analytics, they present the numbers that drive decisions by questioning and interpreting the data with a distinct purpose in mind. If you ask any good data analyst, they will tell you that analytics without a business purpose, intelligence, and expertise can be very dangerous, often leading to very bad findings.
Analytics provides the answer to the question posed by using the data collected during the reporting process. Analysis provides much needed answers to the burning questions reporting can’t figure out.
Implementing Reporting and Analytics
Once the information is gathered from the reporting side and reviewed from the analytic side, we can start to put data to good use. Business owners can take the report analysis and apply it to the decision making process. This can help drive marketing initiatives up and the key performance indicators (KPIs) can then help adjust products to market and path to purchase strategies accordingly.
At Savage Global Marketing, we know that reporting and analysis are crucial components for any business. They gather insight information necessary to make recommendations, adjust strategic initiatives, and better capture revenue. Our team knows that data alone is useless, and action without data is baseless. So we make the most out of the information to design you the best path for your business.