“The goal is to turn data into information, and information into insight.” – Carly Fiorina, former executive, president, HP
Digital data is all around us. In fact, we create around 2.5 quintillion bytes of data every single day, with 90% of the world’s digital insights generated in the last two years alone, according to Forbes.
If utilized correctly, data offers a wealth of opportunity to individuals and companies looking to improve their business’ intelligence, operational efficiency, profitability, and growth over time. In this day and age, a failure to leverage digital data to your advantage could prove disastrous to your business – it’s akin to walking down a busy street wearing a blindfold.
With the rate of available data growing exponentially, it’s crucial to work with the right online reporting tools to not only segment, curate, and analyze large data sets but also uncover answers to new questions that you didn’t even know existed. And when it comes to finding actionable answers to specific questions, ad hoc analysis and reporting are essential. We will explain the ad hoc reporting meaning, benefits, uses in the real world, but first, let’s start with the ad hoc reporting definition.