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One source of truth for BI reports
Return on Insights 3 MIN READ

One source of truth for BI reports

by Elizabeth Morgan

Marketers need to know their performance numbers as soon as they’re available, which is why companies invest heavily in reporting systems that track volumes, shares, brand image and campaigns.

But the decentralized organization of reports can cause inefficiencies, which is why Market Logic’s insights platforms put them all together in one place – delivering both hard and soft cost efficiencies.

Before using Market Logic’s end-to-end market insights platforms, many of our clients organized their business reports on SharePoint. They experienced a multitude of complications and inefficiencies, including:

  • Regional reports that could not be widely used because they each had a unique format
  • Lack of business context for key reports, so managers didn’t understand the interplay between reports or best sources of information for specific types of problems
  • Dependence on regional BI experts to manually gather local information for global analysis
  • Dependence on BI experts to manually distribute reports to executives who couldn’t find them
  • Executive time wasted discussing “where is the number?” and “which number to use?”

Organizing business intelligence on an end-to-end market insights platform can turn this situation around. An organization with BI experts in a few dozen regions achieved hard cost efficiencies and soft cost savings by:

  • Removing the HR and IT costs associated with running multiple unused databases
  • Harmonizing reports to reduce subscriptions from 240 to 40 different report types
  • No longer paying agencies to answer questions from their own data
  • Eliminating executive waiting time to receive numbers with self-service subscriptions
  • Saving BI experts six hours weekly distributing reports to stakeholders
  • Reducing time spent gathering numbers for corporate requests from two days to a few hours

When all your business reporting is aggregated and distributed from a single platform, there is only one source of truth.

What’s more, business stakeholders can refer to the reports themselves, without relying on BI experts.

That means that the executive conversation can shift from “where is the number” and “which number is correct” to “what the number means” and “what action you’re going to take.”

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