December 14, 2017 (Thursday)

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Reporting & Analysis

Both analysis and reporting play roles in influencing and driving decisive actions which lead to greater value in organizations.

Reporting

Reporting takes raw data and turns it into organized, presentable information; analysis interprets data and gives the reader insight which in turn can be used to influence subsequent positive actions, thus adding value to an organization. In short, reporting explains what is happening while analysis explains why it is happening.

A simple way to test whether your organization is emphasizing reporting or analysis is by identifying the primary tasks being performed by your analytics (or management) team.

If these tasks are primarily building, configuring, organizing, formatting and summarizing data, then they're reporting. If on the other hand, your team is engaged in questioning, interpreting, comparing and confirming then they're engaged in the analysis process.

Results

The goal is to know how your organization is doing; to find accurate, helpful information which empowers you to make the right decisions and subsequent actions, ultimately improving business performance and value.

The data reporting process goes like this: DATA » REPORTING » ANALYSIS » DECISION » ACTION » RESULT

Gears of Reporting and Analysis