We live and work in the age of big data, where the importance of using data to uncover insights into business operations, finances and customer behaviour has never been greater.
For any modern business, this information is now essential to optimize productivity and remove any potential barriers to commercial growth. Maintaining a comprehensive data list is a vital first step; however, we know from experience that the most important thing is how a company can harness this data to inform their important business decisions.
The ability to collate and summarize masses of data within just a few seconds has therefore become an invaluable asset to any company, regardless of their size or industry. When an organization gets their data reporting right, they gain a far greater understanding of their own processes, performance and the ways in which they can be improved.
As the world’s leading spreadsheet and workbook program, Microsoft Excel been providing businesses with a quality data management solution for nearly 30 years. The program has evolved greatly in that time and continues to keep pace with the changing needs of the organizations it serves. The Excel of today is quicker, more intuitive and offers multiple reporting tools for users to convert and visualize their data in a wide variety of ways.
However, the challenge remains to tailor the right level of automation and customization that best suits the needs of a specific business – and that isn’t always a walk in the park. Let’s dig a little deeper into the common problems we find when discussing the practical implementation of reporting in Excel.
Throughout the past decade we have spoken to hundreds of businesses that have been struggling to get the most out of their Excel reporting tools. All too often, we find that these organizations are having to deal with the fallout from unkempt databases that are oversized and poorly managed. This naturally leads to inaccurate reporting, whereby the insights generated from the data are by no means a sound foundation for companies looking to inform their key decisions.
Another major inefficiency is organizational reliance on manual processes. Let’s say that an IT manager spends two days producing a high quality monthly report that can be shared and distributed to key stakeholders throughout the organization. While this report provides a great level of detail into the performance of the company, without effective automation in place the manager will likely have to repeat the same laborious process the next month, and the month after that.
These are major inefficiencies that add up to cost businesses a lot of time and money over the course of months and years.
The possibilities that Excel offers are boundless, which means that knowing exactly where to start requires the expertise and experience of somebody who has been through the process many times before.
For any business manager or IT professional looking to optimize their approach to Excel reporting, we provide a range of solutions that are tailored to meet the exact needs of each business we work with. This may be a one time solution for a very specific reporting problem or niche issue, or a longer term investment that covers the optimization and automation of integral reporting processes and dashboards.
If your business is facing any of these challenges, or you wish to find out more about the Excel reporting consultancy services that Bespoke Excel provide, get in touch with our team of expert advisors today on +001 8556 420 591.
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