Covering the essentials of business intelligence, explore the features & functions for an overview.
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One of Orbit’s customers, among the world’s largest aluminum rolling companies, uses our operational reporting platform to track a wide range of business metrics and KPIs across departments.
For instance, the supply chain team at the company uses Oracle EBS (Enterprise Business Suite) for enterprise resource planning, customer relationship management, and supply-chain management. Considering the scale of operations there was a crying need for a world-class reporting and data visualization solution.
Specifically, the client wanted a reporting solution that would help their SCM leaders track data across the entire supply chain – from procurement of raw materials to the final product. Some of the key areas they wanted to track in real-time included:
This was a specific example of how Orbit is being used by the supply chain team. Other teams at the company including finance and production also use Orbit for operational reporting but to track other metrics.
In one of our meetings, the client explained the value proposition of an operational reporting solution.
An enterprise-wide BI platform is not enough. While that would help with top-level strategic planning and management review meetings, for day-to-day business operations, a modern operational reporting solution is a “must-have.” This operational reporting platform is used by various departments to track key metrics (relevant to their individual teams) on a daily, weekly, and monthly basis. These reports feed into the process of making operational decisions, which are done with real-time data.
In today’s fast-paced world, businesses need to be able to identify challenges ahead of time, capitalize on their strengths, and quickly respond to opportunities. Enterprises need to improve operational efficiency and break barriers to innovation and growth, and data holds the key to making that happen.
Business leaders need a holistic view of their operations and assess key performance indicators in real-time to make critical decisions across functions such as supplier management, production, marketing, sales, quality, and finance.
Of course, in addition to a department or function-level view of data, an integrated view of all functions is certainly valuable. It helps with understanding the dynamic relationship between the different variables of the business and how these align with the larger business goal.
To reiterate, some of the key benefits of operational reporting include:
Use Cases for Operational Reporting
Broadly, there are several use cases and scenarios where operational reporting is extremely valuable. It is important to note here that operational reporting is different from operational analytics.
Additionally, operational reporting is not only about big data or data stored in an ERP. It is often important to bring in data from multiple sources and prepare operational reports as needed. It is also critical to have a Change Data Capture (CDC) capability, to ensure reports are prepared with the latest data in the ERP (or other business systems).
For the purpose of this blog, we highlight a few use cases of operational reporting.
Marketing and sales teams can use operational reporting to track the correlation between marketing budget and new customer signups, the impact of discounting on customer acquisition, etc.
The finance team can use operational reporting to track account receivables, account payable, cash flow trends by month, etc. The goal is to use these reports and dashboards to capture trends, with the goal of improving financial performance and overall business performance.
In the production or manufacturing department, operational reports can enhance production, improve resource utilization, reduce costs, and improve efficiency.
Operational Reporting Best Practices
To experience the benefits of operational reporting, businesses need a modern operational reporting solution that has the following capabilities:
Orbit’s Operational Reporting Solution
Orbit offers its enterprise customers a truly next-generation, plug-and-play operational reporting platform with the following capabilities:
Other features and capabilities include – ad-hoc data reporting, scheduling reports/jobs, pixel-perfect reports, and data security.
For more information, visit: https://www.orbitanalytics.com/operational-reporting/