Business intelligence (BI) technology can help end-users achieve both strategic and tactical organizational goals through managed reporting.
In this article, we’ll explore some best practices for managed reporting. Reporting can be a critical part of any organization and managed reporting services can help you get the most out of your data. Keep reading to learn more about managed reporting.
Understand Managed Reporting
Managed reporting is a BI term referring to the outsourcing of report creation and distribution to a third party. The third party, or managed service provider (MSP), is responsible for the timely creation and delivery of accurate reports to the end user.
There are many benefits to using a managed reporting service. Perhaps the most obvious benefit is that it can free up your internal resources to focus on other tasks. Reports can be time-consuming and labor-intensive to create, so outsourcing this work can be a big help.
Another advantage of managed reporting is that it can improve the quality and accuracy of your reports. An experienced MSP will have expertise in creating reports that are both visually appealing and scientifically accurate. They’ll also have access to specialized software and data sources that you may not have in-house.
Finally, using a managed reporting service can help ensure that your reports are delivered on time, every time. MSPs have extensive experience in creating and delivering reports, so you can be confident that your reports will be delivered on schedule, regardless of your deadline.
Establish a Process and Set Expectations
There’s no question that successful reporting is key to a successful business, yet many companies struggle with achieving this goal. One of the best practices for successful managed reporting is to establish a process and set expectations.
A defined process will help ensure that everyone involved is aware of their role and what’s expected of them. This includes not only those responsible for generating the reports, but also those who will be consuming them. Establishing clear expectations will help ensure that everyone understands the purpose of the reports and what they should be looking for.
This best practice is especially important for companies that rely on managed reporting services. When working with a third-party provider, it’s important to make sure that both the company and the provider have a clear understanding of the reporting process. This will help avoid any misunderstandings and ensure that the reports are generated in a timely and accurate manner.
By establishing a clear process and setting expectations, companies can ensure that everyone involved is aware of their role and what’s expected of them. This will help ensure that the company is able to make the most of the data they collect.
Create a Reporting Template
Another best practice for managed reporting is to create a reporting template. A reporting template can help to ensure that all reports are formatted in a consistent manner. This will make it easier to compare and analyze the data across reports.
When creating a reporting template, it’s essential to consider the audience for the report, the type of data being included, and the desired outcome of the report. The reporting template should be designed to make it easy to read and understand the data.
The layout of the report should also be easy to follow and the data should be arranged in a logical manner. In addition, the title of the report should be clear and concise and the body of the report should include a summary of the data. Charts and graphs can be used to illustrate the data and help to clarify the findings.
Finally, the reporting template should be modified as needed to suit the specific needs of the report. The template can be used as a starting point for each report or it can be used as a model to create a new report.
Making the Most of Managed Reporting
Managed reporting is a great way for companies to improve their reporting process and save time and money. By following these best practices, a company can get the reports they need quickly and easily, without having to worry about the logistics of report creation.