Without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway. – Geoffrey Moore, Author of Crossing the Chasm & Inside the Tornado

In the digital age, brands, businesses and organizations have a wealth of information at their fingertips: a level of insight that if leveraged correctly, not only has the power to offer a real competitive edge, but provides the potential to innovate, inspire and create a well-oiled commercial machine that continues to evolve with the times.

We are indeed living in a time rich in invaluable digital data. By gaining the ability to gather, organize and analyze the metrics that are most important to your organization, you stand to make your business empire more intelligent than ever before – and executive reports and business dashboards will help you do just that.

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If someone puts you on the spot, could you tell him/her what the difference between business intelligence and analytics is? If you feel a bit uncertain about the specifics here, you’re not alone, experts aren’t in agreement either! There is not a clear line between business intelligence and analytics, but they are extremely connected and interlaced in their approach towards resolving business issues and providing insights on past and present data, and defining future decisions. While some experts try to underline that business analytics focuses, also, on predictive modeling and advanced statistics to evaluate what will happen in the future, BI is more focused on the present moment of data, making the decision (and future of a company) based on current insights. But let’s see in more detail what experts say and how can we connect and differentiate the both.

We already saw earlier this year the benefits of Business Intelligence and Business Analytics. Let’s dig deeper now and figure out what this is all about, what makes them different, and how they are complementary to each other.

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In the past, business intelligence was a privilege of large companies who could afford to maintain teams of IT specialists and data scientists. But in the last decade, as technology has developed rapidly, the software has become not only more lightweight and powerful but also more accessible. Small businesses can use the same tools as main market players and face their competitors. New self-service tools prove that business intelligence is no rocket science but rather a useful tool to help to turn data into informed decisions. Now every company can harness the power of modern BI software to raise their bottom line since business intelligence for small business has become accessible and affordable. But what exactly makes business intelligence indispensable?

To get started in this journey, it is essential to know that BI can be adapted to any business model or industry. We have seen in our other blog posts, on how to build a successful business intelligence strategy, or harnessing the power of financial reporting and analysis, how to leverage the power of a modern business dashboard and make the most out of your small business data analytics. A need for a large department gathering and analyzing all the data gathered, circling those data in different departments, and showing it to many stakeholders it’s a model of the past. In this digital age, accessing your data in almost real-time is of crucial importance if you want to stay on top of the market. That being said, a majority of reports and analysis needed to make quick, informed, detailed and robust decisions, can be accessed within few clicks, shared with a simple link, and analyzed via simple charts that can make business decision-making process and action time much faster.

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In your daily business, many different aspects and ‘activities’ are constantly changing – sales trends and volume, marketing performance metrics, warehouse operational shifts or inventory management changes. All these little alterations in your business activities are impacting the global well-being of your company, your warehouse, your restaurant or even your healthcare facility. Whether you manage a big or small company, business reports must be incorporated to establish goals, track operations, and strategy, to get an in-depth view of the overall company state.

This is where the need to report all of these little and big changes arises: knowing what is happening in your business is key to keep it afloat, and be prepared to face any transformation or drastic shift. And business report templates are the best help for that. They may gather financial, marketing and sales-related information, or more technical data; a business report sample will be your all-time assistance to adjust purchasing plans, staffing schedules, and more generally, communicating your ideas in the business environment. Knowing how to prepare and create one can reduce costs and time to decide on a relevant course of action. We will discuss report examples and templates you can use to create your own report, use its features in an interactive way and discover relevant inputs for your specific industry.

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Let’s face it: every serious business that wants to generate leads and revenue needs to have a marketing strategy that will help them in their quest for profit. Today’s digital data has given power to an average Internet user a massive amount of information that helps him or her to choose between brands, products or offers, making the market a highly competitive arena for the best ones to survive. An important part of a successful business intelligence strategy is implementing a marketing report in its core procedures. But only 22% of businesses are satisfied with their conversion rates. That being said, a marketing report will become the beating heart of acquiring customers, researching the market, providing detailed data insights into the most valuable information for a business: is our performance on track? Ultimately, it will provide a clear insight into relevant KPIs and build a solid foundation for increasing conversions.

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