As the name implies, real-time reporting is the process of reporting an event at the moment it happens. Gone are the days when companies could only gather their data during monthly or quarterly intervals. The narrative has changed with real-time reporting; businesses and organisations can now access and view their data instantly without any delay unlike what was obtainable in the past.
Benefits of real-time reporting
Real-time reporting has one major benefit; it saves time for everybody.
This in itself is a great advantage because time, they say, is money.
Here is a list of other benefits that come with real-time reporting.
For Businesses and Organisations
- It reduces manual work: Real-time reporting works on a “do-it once and for all” basis. You only need to build the report once. As long as you include relevant Key Performance Indicators (KPIs), connect to the right sources, and share the link with the client, there is no need for you to build reports all the time.
- Get clients informed on time: You don’t have to wait to meet with your clients before you inform them of the necessary data. You can always give them a real-time report which they can view, assess and digest, even before any meeting.
- Increase trust and transparency: Here is the deal: if you give your clients access to performance data in real-time, they trust you better and there is a high level of transparency. This can create a shared, collaborative experience.
That’s not all, with real-time reporting, you can switch between date ranges with ease thereby having the opportunity to see the performance in different time frames and easily compare progress and growth, as it happens.
- No more middlemen: As a client, real-time reports give you a sense of ownership of your data analytics and you have direct access to the report at any time without seeking anyone’s help in generating it.
- Fast-track decision making process: Since you no longer wait for weeks or months before getting reports, you can easily and quickly make a better decision based on updated data and reports. Ultimately, this will improve business efficiency.
- Easily share between departments: For a large enterprise, sharing information may prove to be difficult. Emails can be ignored or even get lost. However, with one link to a real-time report that continually gets updated, the problem is solved. Each department in the enterprise gets the link and can view the latest report, any time, without hassle.
Having read the benefits of real-time reporting, you will agree that it is something worth being embraced by businesses and organisations.
At Axual, we have real-time reporting capabilities that can satisfy the needs of businesses irrespective of the size. Do you want to grow your business and gain a competitive advantage? Are you facing difficulty when it comes to reporting your data in real-time?
Axual is the answer, we will take the burden off your shoulder by making real-time reporting a seamless process for your organisation. Contact us today to get started.
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