Why Is Data Reporting Important for Any Business? Data reports can be static or interactive, more or less detailed, and the data can be grouped in different ways: by category, by importance, by objectives, or by department.įinancial data reports are one of the most common types, but, in reality, every department within a company can benefit from reporting software: marketing, sales, HR, and others. You will often find all kinds of illustrations in such reports: tables, pie charts, graphs, timelines, and more. You can create a data report in different formats, but nowadays, reports created via data visualization tools are the most common ones. That said, reporting on data is practically the step that leads to data analysis. If you’re looking for an exact data reporting definition, it comes down to the following:ĭata reporting refers to the process of collecting unprocessed data from different sources that you later organize into meaningful and digestible pieces of information to gain valuable insights into your business performance.Īfter the collected data has been pulled from several sources or tools, organized, and visualized in an easy-to-follow manner, you can perform data analysis to assess the current state in your organization and create an actionable plan or give recommendations about future activities based on this data.

How to Improve Your Data Reporting: 12 Best Practices.

What is the Difference Between Data Reporting and Data Analysis?.

Why Is Data Reporting Important for Any Business?.

Want to learn more about data reporting? This article will walk you through what data reports are, how they can benefit your company, and show you how to use the right tools to create effective, well-organized, and actionable reports.

To support this, over half of the companies surveyed for recent Databox’s state of business reporting study confirmed that regular monitoring and reporting brought them significant and tangible benefits. It’s because they know data is critical for growth, especially when modern software allows you to monitor data in real-time and create effective reports for better and faster decision-making.

According to Gartner’s prediction, 90% of organizations will consider information the most valuable asset a business may have.Īnd where does this information come from?Įven though many companies report making important decisions based on their gut feeling, 85% of them would like to improve the ways they use data insights to make business decisions.

Reporting tools for data analysis