How can you create value and competitive advantage with BI reporting?

1 Know your audience

The first step to creating effective BI reports is to know your audience. Who are you reporting to, and what are their needs, expectations, and preferences? Different audiences may require different levels of detail, frequency, format, and tone. For example, a senior executive may want a high-level dashboard that shows the key metrics and trends, while a manager may need a more detailed report that breaks down the data by department, product, or region. Knowing your audience will help you tailor your BI reports to their specific requirements and interests, and avoid overwhelming or confusing them with irrelevant or excessive information.

2 Choose the right tools

The next step to creating value and competitive advantage with BI reporting is to choose the right tools . There are many BI tools available in the market, each with its own features, benefits, and limitations. You need to select the tools that best suit your data sources, analysis methods, report types, and delivery modes. For example, if you want to create interactive and visual reports that can be accessed online or on mobile devices, you may want to use a cloud-based BI tool that supports web and mobile platforms. If you want to create complex and customized reports that require advanced calculations and formulas, you may want to use a desktop-based BI tool that offers more flexibility and control. Choosing the right tools will help you create BI reports that are accurate, reliable, and user-friendly.

3 Design for clarity and impact

The third step to creating value and competitive advantage with BI reporting is to design for clarity and impact. The design of your BI reports can make a big difference in how your audience perceives and responds to your insights. You need to use clear and consistent language, labels, and terminology, and avoid jargon and ambiguity. You also need to use appropriate and effective visual elements, such as charts, graphs, tables, icons, and colors, and avoid clutter and distraction. You should also follow the best practices of data visualization, such as choosing the right chart type, using the right scale and axis, highlighting the main points, and adding context and annotations. Designing for clarity and impact will help you communicate your insights in a compelling and memorable way.

4 Deliver on time and on demand

The fourth step to creating value and competitive advantage with BI reporting is to deliver on time and on demand. The timeliness and availability of your BI reports can affect their relevance and usefulness. You need to deliver your BI reports according to the agreed schedule and frequency, and ensure that they are updated and accurate. You also need to provide your audience with the option to access your BI reports anytime and anywhere, and to drill down or filter the data as they wish. You can use various methods to deliver your BI reports, such as email, web portal, mobile app, or embedded widget. Delivering on time and on demand will help you meet your audience's expectations and needs, and provide them with the most current and relevant insights.

5 Solicit feedback and improvement

The fifth step to creating value and competitive advantage with BI reporting is to solicit feedback and improvement. The quality and effectiveness of your BI reports can always be improved, and you need to seek feedback from your audience and other stakeholders to identify the strengths and weaknesses of your BI reporting. You can use various methods to solicit feedback, such as surveys, interviews, focus groups, or analytics. You should also monitor and measure the impact and outcomes of your BI reporting, such as the changes in behavior, performance, or results that your insights have influenced. Soliciting feedback and improvement will help you refine and enhance your BI reporting, and demonstrate your value and impact.

6 Learn and innovate

The sixth step to creating value and competitive advantage with BI reporting is to learn and innovate. The BI landscape is constantly evolving, and you need to keep up with the latest trends, technologies, and best practices. You should also explore new ways to leverage your data, analysis, and reporting, and find new opportunities to create value and competitive advantage. You can learn and innovate by attending training, webinars, conferences, or workshops, reading blogs, books, or articles, joining communities, forums, or networks, or experimenting with new tools, methods, or formats. Learning and innovating will help you stay ahead of the curve and deliver cutting-edge BI reporting.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?