I’ve created a company that implements interactive reports and analytics – Cobit Solutions – after 16 years of work at major corporations, so I’ll answer this question for you: Yes, each time!
Why so?
Most of the managers prepare a monthly report to manager for the meetings (more like Zoom sessions nowadays) with Power Points filled with static data for all periods and all verticals.
And then it’s time to report on your department. Here’s a 5% growth, here’s a 2% loss. We plan to achieve … (your pick) by the end of the year.
SUDDENLY THE CEO GOES:
- Could we compare that to may 2019?
- Are there any overachievers? How did they do the last month?
- For what product/salesman/region did we see the sales drop? Can you tell the margin?
- If the gas prices drop another 15%, how will this affect the prime cost?
You don’t have that in Power Point, and you’re sweating trying to find the answer to that question in Excel, but you can’t run a factor analysis in under 3 minutes.
The solution is simple: ok, I’ll get the info by the next meeting. Tadaaa…. we’ve just posponed making a decision for another two weeks, at least. Meanwhile the company keeps losing money.
47%
of questions asked during a meetings get postponed
since there’s no data
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YOU WON'T FIND THE ANSWER IN POWER POINT - IT'S IN THE BUSINESS ANALYTICS
What can you check on your interactive report – Power BI dashboard in 1 click?
- The data for the entire period for the current moment, and not for the day the report has been created;
- Compare any period to the plan;
- Which supplier fulfills the agreement and which one slacks;
- Which salesman brings most of the marginal income, and which one only earns their bonus (usually from the turnover) ;
- Which SKU shows a drop in sales, in which region, shop, salesperson;
- What exactly has gone wrong and how badly;
- Who’s a good guy and who’s ot.
- Predict the following period if things go as planned, or change a number of indicators and watch the results.
At Cobit Solutions we create interactive reporting to give the managers the full information on their department with an online access. If you’d like your department to be the most productive and innovative – contact us.
- You might also be interested in the article by the owner of Cobit Solutions WHY WOULD A CFO NEED A BI SYSTEM?
- Read more on real cases of BI system and interactive reports implementation in different industries on our BLOG
- BI solutions FOR SMALL BUSINESS
