Analytics vs. Reporting is a deep comparison Business Intelligence Tools which involves around the similar web analytics domain and principles. A brief overview of WHAT IS WHAT?
What is Analytics?
- The process of searching and exploring data and reports, translating raw data into information which can pull meaningful insights and gives better understanding to KPI’s (Key performance indicators )to improve the business performance.
- Ad hoc responses: These are the answers to a wide range of questions that arises from the reporting part.The deliverable is a short time-bound, plain and precise request.
- Analysis presentations: Is a deep, formal and comprehensive deliverable focusing on the key findings and providing recommendations.
What is Reporting?
- It is the static process of collecting and integrating data into factual summaries for the purpose of monitoring financially the different fields and domain in which a business is performed. It consists of the data that is independent from any individual point-of-view and can only be accommodated to some extent so as not to hinder the integrity of the data.
It gives results to concrete, fixed and inflexible data linked to original initiatives taken by the business organization.
- Dashboards: Are the single pages, real-time indicator of comprehensive and high-level performance view of business targeting specific audiences.
- Alerts: These are the conditional reports which triggers as push messages when the data drawn falls outside the expected limit or when some other Pre-defined standard is met.
- Canned reports: These are customized reports that can be accessed within the analytics tool or can be delivered on a resorting basis to a group of end users.
— Into the Comparison —
Since both Analytics & Reporting are part of the Web Analytic process, they are often used interchangeable cousins centering on the following main domains-
- Capturing and presenting web data
- Usage in the business world to check the consistency and comparison of web data
- Accelerate sales and diminish costs(value addition)
- Data -driven decision making procedure
Why is analytics more preferable and sought-after than reporting?The difference lies in their Purpose, Output, Value, Tasks & Delivery.
|Purpose:||WHY IS IT HAPPENING?|
WHAT CAN WE DO FOR IT?
|WHAT IS HAPPENING?
WHAT HAS HAPPENED?
|Value:||Decision-making, recommendations, close to action, follow-UP||Varying from varied organizations, experts may or may not require reports for the analysis.|
|Tasks:||Strategies, implementation and reporting.|
Interrogating, examining, illustrating,comparing, and confirming.
|Processing raw data into information.
Building, arranging, preparing, consolidating, organizing, formatting, and synopsis.
|Delivery:||It is done manually by human-beings with the reasoning, rationalizing, interpreting and analyzing skills.||It is an automated process but can be refreshed manually with little requirement of human involvement.|
Who wins the Race?
Some even most complicated reports may fail to explain indisputably to why something has already happened or why was it happening? But the very essence of analytics stands on this specific locality that always answers to WHY and recommends a potential measure to solve the problem.
For example- why is the sales of your company consistently falling down?
A simple static report may tell you the trend and that your sale is falling through various KPI’S but it won’t answer to the potential cause for it. But Analytics provides answers to this which includes-
- The product price is high
- The quality is low
- They have good comparisons to make, etc.
In a nutshell, in order to fully realize the value of data with any size- small, medium or big, computer geeks need to throw away their notion that a standard report stands same as the significant analytics.
Analytics will always tell you ‘WHY?’ so as to complete the reporting process. Because without a WHY you never know. Do You?