Business Intelligence Reporting Software: Types, Key Performance Indicators, and Benefits

Posted on

Today, reporting & attribution have revolutionized marketing in all industries. Fortunately, there are dozens of business intelligence reporting software to help collect data from sources.

Besides that, reporting software should make your job easier as a marketer. Then, it is able to create attractive, action-oriented & readable reports efficiently.

Types of Business Intelligence Reporting Software

Basically, there are 2 divisions of business intelligence tools and techniques. When it comes to source of data, they include:

1.    Marketing Intelligence

It involves data analysis for the needs of decision-making to determine market opportunities, market penetration strategies, and analysis of data for tracking market metrics.

It aims for a better market & customer orientation understanding, new opportunity identification through tracking trends & early introduction to activities of competition.

In addition, it also aims to minimize investment risk, get better market positioning, as well as faster, cost-effective, and more efficient information collecting.

2.    Internal Intelligence

On the other side, internal intelligence of a company provides information about its performance.

Key Performance Indicators of Business Intelligence Reporting Software

We use key performance indicator to set goals, monitor performance, make it visible, as well as provide notifications if performance doesn’t meet expectations.

Most important indicators of business intelligence reporting software include:

1.    Return on Equity

It is an important measure of profitability of enterprise from the aspect of the owner as well as a profit planning’s basic measure.

2.    Return on Assets

For your information, return of access means measurement & results planning.

3.    Defensive Interval

It shows how many days a company is able to survive with its level of activity if there’s no sales cash out or from any other source.

4.    Operating Cycle

Then, operating cycle shows the time from the inventories’ acquisition to the receivables’ realization.

5.    Revenue Growth Rate

It shoes how well the development of the business is.

6.    Added Value

Lastly, added value is a part of the revenue coming from the activities of the company.

Benefits of Business Intelligence Reporting Software

The use of business intelligence tools offers a few benefits. First, it makes business decisions not based on guessing, but facts.

Besides that, it reviews and analyzes the business partners’ habits & characteristics. Then, it also timely answers to the business problems.

In addition, it identifies opportunities for improvement and expansion of business cooperation with partners.

Furthermore, it reviews key indicators of business & information when & where you need it. One more thing, business intelligence reporting software improves business efficiency.

Leave a Reply

Your email address will not be published. Required fields are marked *