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How to Choose the Best Reporting Tools for Your Business

How to Choose the Best Reporting Tools for Your Business

Data reporting and visualization are two important aspects of any organization. You can use data reporting tools to understand your company’s data and present it in graphs and other visual forms.

If your job or daily operations involve data reporting, it’s helpful to know what reporting software you can use to streamline the process. This article explains what reporting tools are, their importance to business, examples of the best reporting tools available right now, and more.

What is a Reporting Tool?

A reporting tool, also called a software reporting tool, is a computer program used to generate reports from data stored in a database or other data source. Reports generated by reporting tools can be in various formats, such as text, tables, charts, and graphs.

Importance of Reporting Tools to Business

Reporting tools are essential to business because they help organizations make better decisions based on data. Companies can understand their data better, make informed decisions, and improve their operations with the right reporting tools.

At the same time, reporting tools also help businesses automate data collection, analysis, and reporting. This process can decrease the team’s administrative load and free up time to explore and create new business ideas.

Different Types of Reporting Tools

Reporting tools are not limited to just one type but instead come in different forms or models that perform specific tasks for you: ad-hoc reporting tools, dashboard reporting tools, data mining tools, data visualization software and business intelligence software.

Ad-Hoc Reporting Tools

An ad-hoc reporting tool is a software program that creates one-time or specific reports on demand. With an ad hoc reporting tool, you can quickly generate custom reports without having to wait for someone else to do it for you.

Dashboard Reporting Tools

A dashboard reporting tool is a software program that displays key performance indicators (KPIs) and other important data in an easy-to-read format. Dashboard reporting tools usually come with pre-built templates, which you can use to customize and match your needs.

Data Mining Tools

A data mining tool is a software program used to analyze data and find patterns. It can identify trends, correlations, and other important information in data sets.

Data Visualization Software and Business Intelligence Software

Data visualization and business intelligence software are two different types of tools. It is used to transform data into visual representations, such as graphs or charts, for easier interpretation by users. Meanwhile, business intelligence (BI) software is a computer program that extracts information from multiple sources and combines it in one place so businesses can analyze the data.

Today, many companies use data visualization and business intelligence software to improve their decision-making process. With the right toolset, organizations can make better decisions faster based on comprehensive insights from all of your company’s available information sources.

Benefits of Reporting Tools

Reporting tools are beneficial in many ways; here are some of the reasons why you should use them:

  1. Reporting tools help you understand your data better, making it easier to make informed decisions.
  2. Reporting tools automate the process of data collection, analysis, and reporting. This can decrease the team’s administrative load and free up time to explore and create new business ideas. 
  3. Reporting tools come in different forms or models that perform different tasks.
  4. These tools help give you better insights into the performance of your business by presenting information in an easy-to-read format so everyone from top leadership to mid-level managers can understand it.
  5. These tools can make better decisions faster based on comprehensive insights from all of your company’s available information sources.

 

What to Consider When Shopping for Reporting Software?

What exactly should you look for when looking for the right reporting tool? Here’s a quick rundown of the essential features you should consider:

  • User Interface: The user interface is the part of the reporting tool that you will interact with daily. Make sure it is easy to use and understand.
  • Data Types Supported: Make sure the reporting tool you choose supports the data types your business uses. If not, as a result, you may have to spend time converting your data into a format the tool can understand.
  • Reporting Capabilities: Make sure the reporting tool you choose can generate the type of reports you need. If not, you may have to find a separate tool to do this for you.
  • Ease of Use: Make sure the reporting tool is easy to use, so you don’t waste time figuring out how to use it.
  • Integration: Make sure the reporting tool can integrate with the other tools you use in your business. Since this will make it easier to get data into the tool and generate reports.
  • Price: Reporting tools can be expensive, so make sure you choose one that fits within your budget.
  • Source Options: Make sure the reporting tool you choose allows for multiple data source options. Since this will give you more flexibility when working with your business’ information.
  • Deep Data Search Functions: Make sure the reporting tool you choose has deep data search functions. Since this will allow you to find information quickly and easily.

 

5 Best Reporting Tools

Now that you know what to look for when shopping for reporting tools, here are five of the best options in today’s market:

  • Report Builder: Microsoft’s free cloud-based report builder can be accessed through Excel or Office 365. Then, It allows users to create reports using various data sources, including databases and web services. 
  • SQL Server Reporting Services: Microsoft’s enterprise reporting solution allows you to create, manage, and deliver reports. Then, It integrates with various data sources, including SQL Server, Oracle, and Teradata. 
  • Tableau: A business intelligence software used by organizations worldwide for data visualization. Then, It has a user-friendly interface and can be used on a desktop or web browser. 
  • QlikView: A business intelligence software that allows users to create interactive visualizations with real-time data through its easy drag and drop interface. 
  • Domo: An all-in-one cloud-based reporting solution for businesses of any size. It has the functionality of Tableau, SQL Server Reporting Services, and DomaIQ with a user-friendly interface.

 

Why is DataMyte Digital Clipboard a Powerful Reporting Tool?

Apart from the five reporting tools we mentioned above, we would also like to highlight our very own DataMyte Digital Clipboard.

DataMyte Digital Clipboard helps automate reports and generate insights at a much faster rate. Since, you can integrate it with all your company’s available information sources, handle large amounts of data, build custom dashboards, and share them securely across your business. Our reporting portal is accessible for everyone so you won’t have to go through hardships trying to share your reports.

If you’re interested in learning more about our digital production and quality work platform, please feel free to contact us or visit our website. Our customer support team will be happy to discuss how to help your business streamline its reporting process and increase efficiency through the DataMyte Digital Clipboard!

 

 

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