Times Are Changing - Currently the economic climate is all about change. The behaviour of customers has changed, competitors have changed pricing and value is more important than being loyal to a particular brand. It is because of this today we find ourselves using different marketing dynamic sets.
In this article we describe the way Business Insight reports can be effectively used to help cope with the changes and identify the five benefits to be gained by an organisation from doing so.
The Stages of Effective Business Insight - To help us cope with changing market dynamics there are number of stages involved and each one needs to use its own kind of Business Insight report.
1. Using a monitoring dashboard report it will help to identify the changes taking place in a business because of some external factor. 2. Using an Interactive Discovery report one can understand the causes that are making these changes take place. 3. A Detailed Planning report will not only help the business to adapt its current practices but also devise an effective marketing response. 4. Using an Operational Dashboard a business is able to implement the necessary changes where it is appropriate to do so.
Each stage mentioned above will involve various people at different levels within the organisation. Some will be required to make the strategical decisions whilst others will need to make tactical ones and then there are others who will plan and then carry out the operations on a daily basis.
Each report created needs to be in a certain style and contain certain content for the audience it is specifically tailored to.
Reports are like a Present - A Business Insight report is just like a present it has been created for a certain audience and then packaged and delivered to them.
There are many powerful analytical tools today like FastStats Discoverer that will be needed to create and drive these reports obtained from large marketing and/or transactional databases. The delivery mechanism, say FastStats Excelsior needs to offer access to the results remotely and also provide us with the ability to refresh or request other scenarios.
Through use of Excel in a reporting environment provides us with access to powerful flexible functions that manipulate and then display results. Because it is a familiar system and easily accessible it is the ideal mechanism to use for reporting.
Reports must be Relevant - In this section we look at the various types of different reports that are needed during the stages mentioned above. These reports can be used by various individuals within an organisation but it is dependent on whether they have a strategic, tactical or operational role within it.
In order for you to understand the purpose of the report being created it is important that you identify the audience who is going to be receiving it.
Reports containing granular detail will be necessary for planning specific communications; however the information will be too much for a senior executive to take in. Whilst glossy dashboards are ideal for monitoring in the boardroom however are not of much use where much more in-depth information is needed.
So again the style and content of the report needs to be tailored to meet the relevant audience's needs.
Monitoring Dashboard Reports for Strategic Levels - The high level Monitoring Dashboard reports are designed for a strategic audience and provide an overview of the performance and KPI of a business. This will help an organisation to not only monitor activity but identify any changes. It allows one to compare customer behaviour this year against the same time last year or to assess the businesses financial performance in relation to its targets. Plus it allows us to identify changes that take place as soon as they happen.
The key features of Monitoring Dashboard reports are: 1. The KPIs (Key Performance Indicators) are summarised at high a level in business 2. It should allow you to compare targets and history from last month or last year 3. It should have a fixed layout making it much simpler to use i.e. a Dashboard 4. It should contain graphs or pictures which allow you to highlight the message you want to convey (for example speedometer, charts, traffic lights etc) 5. Its main purpose is to make the user aware of the changes happening - 26221
In this article we describe the way Business Insight reports can be effectively used to help cope with the changes and identify the five benefits to be gained by an organisation from doing so.
The Stages of Effective Business Insight - To help us cope with changing market dynamics there are number of stages involved and each one needs to use its own kind of Business Insight report.
1. Using a monitoring dashboard report it will help to identify the changes taking place in a business because of some external factor. 2. Using an Interactive Discovery report one can understand the causes that are making these changes take place. 3. A Detailed Planning report will not only help the business to adapt its current practices but also devise an effective marketing response. 4. Using an Operational Dashboard a business is able to implement the necessary changes where it is appropriate to do so.
Each stage mentioned above will involve various people at different levels within the organisation. Some will be required to make the strategical decisions whilst others will need to make tactical ones and then there are others who will plan and then carry out the operations on a daily basis.
Each report created needs to be in a certain style and contain certain content for the audience it is specifically tailored to.
Reports are like a Present - A Business Insight report is just like a present it has been created for a certain audience and then packaged and delivered to them.
There are many powerful analytical tools today like FastStats Discoverer that will be needed to create and drive these reports obtained from large marketing and/or transactional databases. The delivery mechanism, say FastStats Excelsior needs to offer access to the results remotely and also provide us with the ability to refresh or request other scenarios.
Through use of Excel in a reporting environment provides us with access to powerful flexible functions that manipulate and then display results. Because it is a familiar system and easily accessible it is the ideal mechanism to use for reporting.
Reports must be Relevant - In this section we look at the various types of different reports that are needed during the stages mentioned above. These reports can be used by various individuals within an organisation but it is dependent on whether they have a strategic, tactical or operational role within it.
In order for you to understand the purpose of the report being created it is important that you identify the audience who is going to be receiving it.
Reports containing granular detail will be necessary for planning specific communications; however the information will be too much for a senior executive to take in. Whilst glossy dashboards are ideal for monitoring in the boardroom however are not of much use where much more in-depth information is needed.
So again the style and content of the report needs to be tailored to meet the relevant audience's needs.
Monitoring Dashboard Reports for Strategic Levels - The high level Monitoring Dashboard reports are designed for a strategic audience and provide an overview of the performance and KPI of a business. This will help an organisation to not only monitor activity but identify any changes. It allows one to compare customer behaviour this year against the same time last year or to assess the businesses financial performance in relation to its targets. Plus it allows us to identify changes that take place as soon as they happen.
The key features of Monitoring Dashboard reports are: 1. The KPIs (Key Performance Indicators) are summarised at high a level in business 2. It should allow you to compare targets and history from last month or last year 3. It should have a fixed layout making it much simpler to use i.e. a Dashboard 4. It should contain graphs or pictures which allow you to highlight the message you want to convey (for example speedometer, charts, traffic lights etc) 5. Its main purpose is to make the user aware of the changes happening - 26221
About the Author:
Apteco have developed the FastStats range of marketing tools which includes various components to help with various various aspects of a marketing campaign. These cover things such as data analysis, market analysis, customer profiling and data mining.
0 comments:
Post a Comment