Overview with tools, template, software, best practices and alternatives
Why do People do Reports for Business Intelligence?
Business Intelligence, also known as BI, refers to a process of analyzing data, which aims at enhancing the performance of various businesses by aiding corporate executives and their teams to make more informed and logical decisions.
Aside from corporate executives, team leaders like business project managers and supervisors may do reports for business intelligence. These reports allow them to compare and analyze data, make inferences and conclusions, and make rational choices on their next moves.
Business intelligence reports also present variations in tools, applications, and methods that teams and organizations utilize to gather data from both interior and exterior systems. Aside from analysis, intelligence reports also aid in the creation and firing of queries against the data. The reports also contain visuals to present data analysis more effectively to the team members and team leaders.
Achievements, plans, and problems the business intelligence team members have are also contained in the report, to give the team a wider scope on what is happening to the group and to the business itself as well as to present the team its current overall performance. In addition, the team can also include urgent Information or announcements in the reports, allowing the team members to devise an immediate action to the change.
Aside from presenting the team’s strategies and activities, which are based from the plans formulated by its team members, the team can also indicate change in trends involved in the business intelligence team. Trends that are crucial to the team’s future allow the team to formulate concrete plans, develop effective strategies, and exhibit dynamic actions.
Virtual teams can also utilize business intelligence reports to transform data from team members into usable information that will help the team analyze the status and development of the business and the group. Though the members of a virtual team are dispersed in various locales and time, they can utilize the reports to generate past, present, and future perspectives on the operation of the business.
Doing reports for business intelligence can also present chain of command. Important decisions and announcements coming from the team superiors can be passed down to the team members, allowing them to carry out changes in the project or team’s workflow. Inversely, information from team members on data analysis can be forwarded upwards.
How do Teams usually do Reports for Business Intelligence?
Reports for business intelligence provide relevant data on the team’s performance, as well as the business status and progress, to the team members and leaders.
In generating a business intelligence report, it should be taken into account that the information should be factual and updated. The team cannot afford to include and talk about false and outdated information within the group. Also, incorrect information will lead to formulation of wrong goals, wrong strategies, and wrong actions.
Achievements and issues are also included in the business intelligence report. The team’s accomplishments will serve as inspiration and motivation to other team members. In addition, the achievements also boost the momentum of the team and its members, allowing the members to perform better in the future. Issues can be actual and potential, and including them in the intelligence report will allow the team to discuss ways to solve existing problems and prevent potential problems.
Information in the business intelligence report should be organized and coherent. No team member would like to read a report that fires information to different directions. To ensure organization and coherence of information, team members should be able to synthesize and cluster information as to the aspect they present. Separate sections should be made for various subjects of the report, such as business processes, decision making, and operational efficiency.
Completeness and accuracy of information are essential in making a substantial business intelligence report. A report that has complete and accurate information allows a team to function at its most optimum level, enabling it to establish concrete goals, develop efficient strategies, and execute actions.
Typical questions/metrics/topics that are usually covered in a Business Intelligence report
- What decisions have you made today/ this week/ this month/ this quarter?
- How can the team optimize internal business processes?
- How can the team boost operational efficiency?
- What are your achievements for today?
- What are the team’s strengths and weaknesses that you see?
- What are your short-term and long-term goals?
- What are the actual threats that you see? How are you going to solve them?
- What are the potential problems that you foresee? How are you going to prevent them?
- Do you have other concerns or issues?
Advantages & Best Practices at doing Reporting for Business Intelligence
Reporting on mobile devices/ for mobile devices is highly beneficial to the team for a number of reasons.
Communication is the primary advantage of generating reports of any kind. Business intelligence reports help team members discuss about important matters such as decision making, business processes, operational efficiency, driving new revenues, and gaining competitive advantages over business rivals.
The inclusion of issues and concerns in business intelligence reports allows the teams to identify actual and potential problems experienced by their team. Being able to identify these threats to the team, the team will be able to discuss possible solutions to the existing problems or strategies to prevent foreseen problems.
Business intelligence reports also contain the team’s achievements, which can inspire its team members. Knowing the team’s achievements can also be a driving force towards a boosted momentum to the team. Team leaders can also include past and present essential announcement to the team in the reports.
The business intelligence report concentrates on data analysis, which presents trends in the business. The trends enable the team to decipher whether the group is behind or near its target goal. Also, trends let the team to check the status and progress of its business rivals. Moreover, trends presented in business intelligence reports allow the business to develop ways to compete in the market.
Disadvantages & Pitfalls at doing Reporting for Business Intelligence
Reporting for business intelligence teams can be beneficial in several ways, but there are also occurrences in which it can be a disadvantage to the team.
Writing reports can be time-consuming at times. Instead of doing regular tasks and responsibilities, team members may end up doing and finishing the report. Business intelligence reports focus on data analysis, thus, they should contain complete and accurate information. Incomplete and inaccurate information will result to the team formulating ineffective plans, strategies, and actions.
Some teams prefer writing business intelligence reports online and sending them to the team members via e-mail. One issue with this approach is the reliance on the power of a stable internet connection. This means that if the internet connection is poor or absent, team members will not be able to send and receive intelligence reports to and from other team members.
There are times in which the team focuses only on the current performance of the team, unintentionally eliminating past and future aspects of the team’s performance. Some teams forget that the historical and predictive aspects of the team’s activities, which results to establish a stronger foundation for the team’s plans, strategies, and actions.
Why Teamreporter is great in doing Reporting for Business Intelligence
Teamreporter is a business application that is utilized by business teams to generate scheduled status report mails in place for status meetings. Signing up for an account just takes for less than one minute. Also, the application is free to use by teams that have up to four members.
Teamreporter’s interface is easy to use and automated, allowing its users to generate reports to be sent to their teammates. The application will send the members e-mail notifications, asking them to send information about aspects like achievements, problems, and plans. Then, Teamreporter will generate a data summary based on the team members’ responses. Then, the synthesis of their reports will be sent the day after.
Teamreporter is flexible as the users can change the questions and the schedule of the report mails in its database. Also, users can modify the list of members who will receive the e-mail notifications, as well as those who need to send their reports to the application. If the team uses other applications, these can be integrated to Teamreporter. Moreover, Teamreporter can be used with a web browser, aside from a device. This allows teams to use Teamreporter without having issues to various workflows.
Team leaders can also do their tasks easily and conveniently using Teamreporter. They will be able to have a clear oversight of the team, since team members can freely send their reports to them. This enables team leaders to know the status and progress of each member, by just reading their reports. In addition, team leaders will be able to determine if their members are currently having problems with the project as they can see the issues reported by the members. They will be able to give advice to those members who find it hard to do the project. Moreover, leaders can also integrate significant findings of the team in their training modules.
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