You may not be enjoying the full potential of your data-driven subscription. Like any BI tool, you need to incorporate these reports into a full analysis process, and you must ensure you’re monitoring the right key point indicators. Lastly, you must learn how to use your subscriptions to create additional questions. Here are some tips on how to make the most out of your data-driven subscription.
Regulate Your Time
A data-driven subscription saves a lot of time on its own. Using that time carefully, however, allows you to get the most from your reports. Keep in mind that you need to not only read the reports, but also discuss them with other decision makers before designing an implementation process. Data alone is useless.
Make sure you have a regular BI schedule. When your subscription arrives in your inbox, know in advance how much time you’ll spend reviewing numbers, when you can discuss important updates, and how much time you can dedicate to planning. The last step is crucial. If you don’t make a habit of action, your reports are worthless.
Pay Attention to Key Point Indicators
How are you using your data-driven subscription? Although you can get reports on just about anything, it's important to zero in on key point indicators to maximize insight and productivity. Be sure the key point indicators you see in a regular subscription are the most important numbers for regular review. You don't need updates on individual clients every day, for instance. However, daily sales numbers build a better picture of your overall financial situation. They also give you rapid insight into immediate opportunities for additional profit.
Examine Multiple Aspects of a Problem
A data-driven subscription gives you the basic information you need to ask advanced questions. Complex inquiries should be used fairly sparingly for time-consumption reasons, and you need to know what you're looking for before you begin. If you're familiar with the numbers in your regular reports, it's much easier to target additional analysis when there is a variance. If productivity drops, take time to figure out which questions you need to ask in order to canvas the situation. Do you have a lot of new employees at work, creating a temporary drop in overall productivity? Is the problem isolated to a particular department or team? Where is the root of the problem, and how has it changed numbers for dependent operations farther down the production line?
To analyze rising profits, look for detail. Which products sell the fastest, and do these sales correspond with the rise in profits? Is this boost temporary thanks to a single, large sale? Are your stores seeing more traffic? Why? Consider secondary factors and outside influences before designing any course of action to maximize profits. Without careful examination, you may hinder rather than support your progress.
Getting the most out of your data-driven subscription is all about careful planning and analysis. Schedule your time in advance, choose the right data to watch, and use those results to ask additional questions. Together, these steps can boost any BI strategy.