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Tableau
Tableau
Tableau is an integrated business intelligence (BI) and analytics solution that helps to analyze key business data and generate meaningful insights. The solution helps businesses to collect data from multiple source points such as...Read more about Tableau
Dataccuity
Dataccuity
Dataccuity is a budgeting management solution that helps users prepare marketing and finance reports by collecting data from different web sources and databases. The collected data is consolidated within a central repository. The ...Read more about Dataccuity
Sisense
Sisense
Sisense goes beyond traditional business intelligence by providing organizations with the ability to infuse analytics everywhere, embedded in both customer and employee applications and workflows. Sisense customers are breaking th...Read more about Sisense
Domo
Domo
Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with ...Read more about Domo
TapClicks
TapClicks
TapClicks is a smart marketing cloud-based set of automated marketing solutions designed to work in unison, powered by your data. We make the complex world of marketing easy with everything a business needs to differentiate itself...Read more about TapClicks
Grow
Grow
Grow is a cloud-based, business analytics and reporting solution suitable for small to midsize organizations. The solution allows users to create customizable dashboards for monitoring business workflows and key activities. Grow...Read more about Grow
AnswerRocket
AnswerRocket
AnswerRocket uses natural language processing and AI-driven automation to generate in-depth insights and visualizations in seconds. AnswerRocket is built for businesses needing direct access to their enterprise data. Our powerful...Read more about AnswerRocket
OneStream
OneStream
OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes ...Read more about OneStream
EasyXLS
EasyXLS
EasyXLS Excel Library is a reporting component used to import Excel files, export Excel files or convert between Excel file formats and text file formats. EasyXLS can be installed on servers or desktops and used from ASP.NET web a...Read more about EasyXLS
Flexmonster Pivot Table
Flexmonster Pivot Table
Flexmonster Pivot Table & Charts is a reporting component for data visualization and analysis. The Flexmonster Pivot Grid library easily handles massive data sets from OLAP cubes, SQL databases, MongoDB, Elasticsearch, and more....Read more about Flexmonster Pivot Table
Datadog
Datadog
Datadog is the monitoring, security and analytics platform for developers, IT operations teams, security engineers and business users in the cloud age. Datadog's SaaS platform integrates and automates infrastructure monitoring, ...Read more about Datadog
Prophix
Prophix
Prophix is a financial management solution used for financial consolidation, budgeting, analysis, planning and management reporting. The solution provides a spreadsheet-style interface that helps users to analyze financial data an...Read more about Prophix
Yellowfin
Yellowfin
Yellowfin is the only enterprise and embedded analytics platform that combines action based dashboards, automated analysis and data storytelling. Yellowfin is recognized as an innovator by the world's leading analyst firms. More t...Read more about Yellowfin
Klipfolio
Klipfolio
Klipfolio PowerMetrics is a powerful, metric-centric, analytics and BI platform used by the world's fastest growing businesses to make better decisions. From data ingestion, transformation and modelling, to a self-serve metrics ca...Read more about Klipfolio
ClicData
ClicData
FrontRunners 2024
ClicData is a business intelligence (BI) dashboard solution designed for use primarily by small and midsized businesses. The tool enables end users to create reports and dashboards. A drag-and-drop interface designed for ease...Read more about ClicData
Wrike
Wrike
Wrike is a cloud-based project management platform for teams of 20+ that is suitable for both large enterprises and SMBs. It supports remote work for various teams. This solution comes with Gantt charts, calendars, workload view f...Read more about Wrike
BOARD
BOARD
FrontRunners 2024
Board is the Intelligent Planning Platform that offers smarter planning, actionable insights and better outcomes for more than 2,000 companies worldwide. Board allows leading enterprises to discover crucial insights which drive bu...Read more about BOARD
CRM Analytics
CRM Analytics
Salesforce Analytics Cloud, also known as Wave Analytics, is a cloud-based business intelligence (BI) system that provides an interactive platform to access and share business trends. The software provides data insights and helps ...Read more about CRM Analytics
AgencyAnalytics
AgencyAnalytics
AgencyAnalytics is the only marketing platform built specifically for agencies. Save time, boost revenue and impress clients with a brandable cloud based reporting platform that lets you monitor and report on all of your clients' ...Read more about AgencyAnalytics
AD FastReporter
AD FastReporter
AD FastReporter is an on-premise active directory reporting tool which caters to the needs of IT professionals across multiple geographies. Key features include automation of reporting tasks, report storage and built-in report for...Read more about AD FastReporter
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Buyers Guide
Last Updated: March 16, 2023Generating business reports can be a giant headache. Many companies work with multiple disconnected sources of data and, therefore, struggle to analyze business performance in a way that's efficient and actionable.
This is where reporting tools come in. Reporting tools are used to create dashboards, data visualizations, charts and more so companies can more easily gauge business performance.
This guide will explain the types of reporting tools available, their benefits and key considerations for buyers making a purchase decision.
Here's what we'll cover:
Common Types of Reporting Tools
What Are Reporting Tools?
Reporting tools gather key data from multiple sources and consolidate it. From the collected business performance data, companies can identify trends, patterns and areas for improvement.
Many customer relationship management (CRM) systems offer some reporting functionality, as do many enterprise resource planning (ERP), marketing and sales software solutions. There are also many standalone reporting tools to choose from.
Common Types of Reporting Tools
Buyers purchase reporting tools for many reasons:
They have too many employees for their existing reporting tools or methods
Their current tools can no longer handle the amount of data the organization collects
Their existing methods are slow, cumbersome and inaccurate
Their current tools are only usable by IT staff, i.e., not accessible
While different solutions vary, there are a number of reporting solutions that address the above pain points. Below are the most common types:
Dashboard software | Helps organizations focus on the metrics that are most important to their operations. Think of a dashboard as a display of the current overall status of your business. |
Data visualization software | Offers graphical representations of data via simple user interfaces. Gives users a more insightful way to look at data that is often more digestible for those who feel overwhelmed by reports heavy on figures and text. |
Scorecarding tools | A performance management tool to compare strategic goals with results by attaching a numerical weight to performance and mapping progress toward goals. |
Ad-hoc report writers | Help users design and generate custom, ad-hoc reports. This is especially helpful for organizations that frequently modify their analyses and need to generate new reports quickly. |
Benefits of Reporting Tools
There are many benefits to using reporting tools, including:
Visibility of key metrics. Users have immediate access to the information they need to answer critical, real-time questions. This improves and speeds decision making.
Domo's Card Builder interprets your data and suggests how to visualize it. This helps users quickly access the most important and critical data for their business.
Improved accessibility. In the past, only team members with technical skills could build and access analytics reports. Today, reporting tools make it easy for anyone to instantly create reports and share data.
Key Considerations
A good reporting tool should align with your company’s strategy and goals. It should also offer the following characteristics:
Ease-of-use. If your reporting tool is complicated to use, or even looks like it might be, employees will balk at the idea of using it, or simply give up. Look for reporting tools that are easy to learn with intuitive features and vendors that offer tutorials. To get a sense for this, check out reviews from real users when evaluating your options.
Sisense offers “getting started” tutorials to help new users get up to speed.
Easy implementation. To avoid a lengthy implementation or one that requires technical expertise, look for software that is easy to get up and running. This saves your IT department the burden of a time-consuming, cumbersome implementation process and ensures you’ll be able to start using your reporting tool right away.
What Type of Buyer Are You?
Reporting tools are used in a wide variety of fields by many types of users. Some of the most common include:
Business and IT analysts. Analysts need to create data visualizations on dashboards that they can embed in different applications. These are buyers looking for tools that allow them to fetch unstructured data from different sources and create customized dashboards for their colleagues, partners and clients. The ideal reporting tool should offer back-end support and integration capabilities that make pulling reports from different systems and databases easy.
Consultants and customer service managers. Reporting tools should enable consultants and customer service managers to create interactive dashboards rather than just data-driven "Excel-based" reports. These buyers are looking for tools that help them seamlessly add customer details or feedback collected from surveys and forums into dashboards. Once that’s done, their clients should be able to interact with the data and drill down to perform further analysis.
Department heads and business managers. A reporting tool that caters to department managers must have integration capabilities with different business applications. Managers need to be able to share data dashboards with colleagues and other stakeholders who use different systems. These could range from human resource management (HRM) and CRM to ERP software and many other tools. Therefore, these users need a reporting solution that comes with advanced integration capabilities. Besides this, such buyers are looking for solutions that offer easy customization options and allow quick access to key business metrics.
Software providers. Software vendors look for reporting tools that integrate with specific functionalities of their software, such as a knowledge base, custom portal etc. At times, they may even decide not to build a native reporting tool and instead embed a third-party reporting dashboard within their solution. These buyers are looking for advanced integration capabilities and white label options.
Nontechnical business users. Professionals in traditionally nontechnical departments, such as sales or customer support, require dashboards where they can view data in a single click. These buyers need reporting tools with interactive dashboards that allow them to drill down further into reports, such as product sales, consumer behavior, budgets and more.
Market Predictions
Gartner’s ''Market Guide for Enterprise-Reporting-Based Platforms'' (content available to Gartner clients) states: ''By 2020, 80% of all enterprise reporting will be based on modern BI and analytics platforms; the remaining 20% will still be on IT-centric reporting-based platforms because the risk to change outweighs value.''
Forbes Insights, in association with Qlik, conducted a global survey of 437 senior executives, which revealed that four out of five organizations (81 percent) experienced ''very significant business benefits from their BI programs.''