What Makes Analytics Insightful?

How successful are you at using data to make informed decisions that positively impact your organization’s trajectory? If you are like many businesses out there, your analytics are not quite meeting this goal. How widespread of a problem is this, you ask?

According to FSN’s “Future of Analytics in the Finance Function” Survey for 2020, nearly 86% of all analytic efforts conducted by businesses fails a crucial test: It is not insightful. That stat is staggering, but it brings with it two pieces of good news:

1. You are not alone if your analytics have not been useful up to now.
2. Because of this fact, if you were to start getting insightful analytics from your data, it would be a significant competitive advantage.

But what prevents analytic effort from creating insight?

What Holds Back Businesses’ Analytics?

According to the FSN survey, three traits define analytics that lacks insight:

1. Routine. Analytics is routine when it relies on a cyclical report production schedule. In general, departments within an organization will use standard reports from their ERP and spreadsheets with little cross-functional cooperation.
2. Siloed. Even if one part of a business uses the latest analytics tools, including business intelligence and visualization, it does not carry over to the whole organization. Therefore, the data is only useful to a single group and misses its true transformational potential.
3. Reactive. This type of analytics is based on cyclical report production, like routine analytics, but it uses one-time analysis tools over the short term to react a specific event or circumstance.

Great analytics is, quite simply, the opposite of all three. It forms the bedrock for all decision-making across the organization, interacts with every part of it, and is proactive in preparing for challenges before they occur.

How Can We Move toward Insightful Analytics?

To correct where your organization falls short in analytic efforts, you must start with accurate, easy to access, and real-time data. This kind of data is likely all around you. The trick is understanding how it all comes together and how to present it effectively to all levels of your business.

That’s where Jet Reports and Jet Analytics come in! These solutions from insight software engage the full power of your Microsoft Dynamics 365 Business Central or NAV data by making it accessible, understandable, and integrated with all the other critical data sources you use.

There has Never Been a Better Time to Get Started!

From now until December 18^th, 2020, you can take advantage of significant discounts toward both Jet Analytics and Jet Reports.

• Save 20% OFF the Foundation Package
• Save 50% OFF Designer and Viewer Users purchased at the same time.

This promotion makes true analytic insights for your business closer than you could have ever imagined. By taking advantage of it, you will be prepared to start 2021 off with the insights you need to make the right decisions for your organization.

Or call your customer engagement specialist today!