Move beyond spreadsheets to measure big data

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Business Solution Sep 03, 2020

Analytics Intell

Team

Corporations largely use spreadsheets to facilitate their reporting needs. Microsoft Excel is often the primary choice of business professionals to track and measure data for analysis. At a time when companies are gathering more information than ever, choosing the right tool to dissect this information is imperative to business success and efficiency.

There is an array of potential issues with using reporting systems that are Excel-based:

• Laborious process – manually pulling data from multiple spreadsheets and source systems while troubleshooting and completing calculations is very time consuming, taking away from employees’ time to focus on more crucial tasks.
• Bandwidth limitations – Housing and processing historical data, which helps identify essential patterns, is too cumbersome for Excel.
• Static data – Spreadsheets can only gather “point-in time” data references, making the information ‘stale’ as early as it reaches stakeholders.
• Unreliable process – Using spreadsheet-based solutions opens the door to human errors, version control issues, open access and data corruption.
• Verification limitations – During any type of audit, illustrating how you arrived at your calculations or allowances is harder to verify via spreadsheets.
• Limited analysis capability – Spreadsheet solutions are limited in testing different methodologies under various scenarios.

As companies manage increasingly large and diverse data sets, your organization’s ability to optimize data will be essential to gain business insights. If you are still using spreadsheets to manage your big data, you can advance your reporting technology through an automated workflow system or customized software.

Analytics Intell can help (1) integrate and manage your data, and (2) harness insights from your data, using data science to make decisions around better performance and efficiency in decision making.

Whether you are looking to obtain better insights, have an overwhelming amount of information from siloed sources, or struggle to interpret data points, we offer end-to-end solutions for your big data needs.

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