The success and longevity of a business to a great extent depends on how the organization can collect, process, and interpret data. Raw data can come from a multitude of sources such as databases and CRM systems.

Reporting focuses on compiling data that has been collected and translating it into information. It can be detailed, may use a variety of tools, and has become increasingly important to small and large businesses alike.

Analytics gives you insights. It focuses on exploring and interpreting data or reports. In short, analytics places data under a microscope! Organizations apply analytics to data to deeply examine data, predict, and improve business performance. Businesses are increasingly turning to analytics that will assist in making insightful business decisions.

Data visualization refers to techniques used to communicate insights from data through visual representation. This makes it easier to identify patterns and trends more quickly. Interactive visualizations allow the user to delve deeper and transform data into many different types of visualizations. Decision makers can also drill down through the layers of detail. There are several powerful data visualization tools used today.

Reporting raises questions, while analytics attempts to answer them! We cannot have analytics without reporting. And without analytics, reporting does not glean the powerful insights that leads to better business decision-making. The real value of data emerges when a business pairs reporting with powerful analytics. They can tap into the true potential of their data and can do this quickly, efficiently and effectively. This leads to enhanced quality and speed of decision-making processes.