Learn The Ways To Achieve Proactive Data Analytics

By Author: Bappaditta Jana
Total Articles: 69
Comment this article

Any small and medium-sized enterprise is often very reactive to data; they usually decide first and then later collect data and metrics on how well the decisions were implemented. This kind of analysis does not provide any clarity at any period. As a result, the leaders are not immediately aware of what is happening in business at any given time. So, there is a need for Proactive Data Analytics, as offered by EasyReports, the leading BI tool.

Of course, reactive analytics works for backward-looking problems, whereas proactive analytics helps SMEs influence outcomes by seeing changes and responding to them as they happen in real time. For instance, capitalizing on the rising popularity of new items overnight, or changes in production based on declining sales occur overnight. This is also a powerful business intelligence tool for collecting data and decision-making like Tally.

Deloitte research also raises the fact that organizations described as "insight-driven by default," especially during the COVID-19 period, tend to be better equipped to weather uncertainty and, consequently, have an increase in their share ...
... value over time.

Proactive Data Analytics

It's important to structure the analytics to support the achievement of the existing business goals and take actions through the insights brought about by data. Hence, this calls for a proactive approach toward data analytics. Tools like interactive data visualization analysis tools like Business Dashboards and business accounting, and software tools like Tally can bring dynamic, real-time updates for proactive data analytics, on how the current performance is matching up with KPIs. For instance, a live comparison of sales outcomes by product, region, or salesperson can be shown on a sales dashboard; a financial dashboard can display cash flow status, keeping teams financially agile.

Proactive data analytics using BI tools that offer services like complete Tally integration, also employs predictive modeling, and customers may use key business drivers to simulate scenarios. A finance team might be analyzing how five senior hires that will come on board in the coming months will impact cash flow.

Case Study: Proactive Data Analytics at Arran Isle Holdings

Arran Isle Holdings or Arran is a globally recognized international building products company that has approximately 600 staff across Europe and in China. Proactive data analytics are a big part of what makes these small and medium-sized enterprises tick. They are reaping all the benefits of proactive data analytics. IT technician Emma Russ, at Arran, has utilized data analytics to create sales reports that paint new growth opportunities and ensure problem-free operations. Emma says that automated business reporting is a very pertinent tool for them. One of their primary responsibilities is to run daily checks following the overnight build to ensure everything is operating smoothly.
Emma says it works well to provide good backup, and the core business data was migrated from age-old paper-based systems into a very secure digital environment. She further adds that "great support," through the support team, assures quick and effective resolutions to queries. Quite similarly the EasyReporta support team strives very hard to create a superior client servicing experience. We should all take inspiration from Emma and plan accordingly to reap the benefits of proactive data analytics, and there is no safer or better way than to bring in EasyReports into the equation.

Crystal Clear Insights

The operations of SMEs can be transformed with proactive decision-making and fact-based insights. These reliable data and advanced analytics strengthen the hands of decision-makers and help them make better choices that bring growth and stability.

Conclusion

The integration of proactive data analytics with business intelligence tools within the business practice allows small and medium-sized enterprises to not only pre-meditate upon the challenges but also take opportunities toward success.

Bappaditta Jana is a blogger who loves to spend his free time engaging in sports or gardening. Based in Kolkata, he is currently working with EasyReports an IT firm that has developed a BI reporting tool that can easily integrate with Tally ERP and many other applications.