Data is an essential part of any business in the modern world. You must have heard data reporting and analysis being used interchangeably in most scenarios, but there’s a stark difference in their purpose. These processes are essential to ensure growth for any modern business; nonetheless, it’s vital to know about each process’s detail, what it entails and how it can assist you in your day-to-day business.
Let’s look at the purpose of these terms while looking at some tools to assist you with your data reporting and analysis requirements.
What is Data Reporting?
Data reporting refers to the process of converting raw data from an enterprise’s data repositories and extracting various valuable trends about a company’s performance. A company’s data report usually includes metrics like revenues, accounts receivables, and net profit, amongst other things of interest.
You can consider the census data as an excellent example of a data report. It contains valuable information like sex ratio, population density, and other metrics, all combined in a single report. The process of collecting the census data from every household and translating it into a report is precisely what data reporting refers to.
Data reports are visualized in several ways; these can be in the form of graphs, charts, bars, and many other ways. Clear representation of your data reports is crucial, as the report should succinctly show your strengths and weaknesses in one single glance. To enable this process, you have to choose the correct reporting tool with an intention to facilitate transparent data reporting.
What is Data Analysis?
The data collection part is the same for data analysis; however, “what you do with data” makes all the difference. Data analysis refers to the process of collecting, modelling, and analyzing data to visualize useful trends for the business. It helps make better decisions that have a much higher rate of success.
Remember, when you buy any item, you try to remember your past experiences with the product. A good experience increases the chances of purchase and vice-versa. This simple scenario is an excellent example of data marketing analysis, as you will be using historical data to make future decisions. Such decisions have a higher chance of being correct than a random choice.
Reporting vs Analysis: Similarities and Differences
As you can see from their definitions, data reporting and data analysis have a lot in common; on the contrary, both processes differ from each other at the same time. Let’s look at some similarities and differences between the two versions:
- Both processes are highly dependent on raw data collected by the enterprise.
- You need to convert the collected data into an understandable format, to make sense out of both processes.
- Businesses use data reporting and analysis to decide their course of action. The facts and figures from data reports help you make data driven decisions, while the statistics from data analysis show how an organization deals with their products and consumers.
- Data reporting and data analysis serve a different purpose, especially in the way they utilize raw data. Data analysis gives deeper insights about the trends while reporting shows information about other metrics.
- Reporting helps a business build, configure, consolidate, organize, format, and summarize their data. On the other hand, analysis helps in questioning, examining, interpreting, comparing, and confirming the findings based on certain parameters.
- Reporting involves automating repetitive tasks in the process. On the other hand, data analysis involves significant use of the human mind to find trends, establish controls and define boundaries to enhance reporting. Automation undoubtedly aids data analysts; nonetheless, it is impossible to automate the complete process from end to end.
Tools for Data Analysis
Data analysis is the backbone of any modern business as the world is swiftly becoming data-driven. It’s imperative to use some of the best tools for representing your data, to make the process seamless and effective.
Let’s look at some of the best data analysis tools:
Whatagraph offers a suite of well-defined visual analytical tools that’s available with automated data source inputs. The tool is easy-to-set up, and the interactive UI enhances its usage. It gives you a ton of options to represent your data in different fashions. You can also edit each data point from the representation individually.
- You can choose between charts, tables, KPI tracking widgets, and a lot many options to represent your data
- Whatagraph comes with free pre-built templates for reports and dashboards
- It automatically connects different data sources and repositories
- You can import customized data using Google Sheets or APIs
- You can set your own campaign goals and view your progress real-time
Kloudio’s data analytical tools are accompanied with a long list of features. The platform is easy-to-use due to its friendly UI and also comes with no inherent coding requirements. The best part about the platform is its automation abilities. It does most of the heavy lifting, and the data analysts need to just establish the connection links, feed in their data requirements, and let Kloudio do the needful.
- The no-code data connectors let you connect to Salesforce, Oracle financials, and other popular SaaS applications
- You can integrate data from MySQL, Snowflake, and other databases and data warehouses
- The platform can merge, file, and sort data from different SaaS applications based on user inputs
- You can drag and drop your data without using SQL
Xplenty uses its cloud-based solution for data integration and ETL purposes. It comes with powerful transformation tools that help in cleaning, normalizing, and transforming data. Xplenty is highly scalable and elastic in the way it manages your data.
- Xplenty has a user-friendly UI that helps you implement ETL, ELT, ETLT, and more
- It helps you transform, centralize, and prepare data for efficient data analysis
- The platform offers 24*7 support over email, chat, phone and online meetings, to help you solve any issues
- It comes in low-code and no-code options which make it worthwhile for tech-novices
- You can use Rest API to integrate your data directly into Xplenty
4. Zoho Analytics
Zoho Analytics is known for its cost-effective data analysis. You can analyze your data, irrespective of its storage location. It comes with an AI-powered assistant that can help you resolve your issues on the fly.
Explore a plethora of data visualization options that will give you the flexibility to represent your data, in any way you want.
- You can choose between charts, pivot tables, and summary views to visualize your data
- Zoho’s assistant tool is AI and ML-powered, making it an intelligent and responsive assistant for data analysis
- You can also access your analytical data on the go, using their Android/iOS mobile application
- Feel free to blend the data from multiple platforms onto Zoho to facilitate data analysis
Tools for Data Reporting
Let’s look at some data reporting tools which can enhance your reporting skills without too much manual effort:
ClicData offers a cloud-based business reporting platform, which comes accompanied with its very own data warehouse. The platform is perfect for data reporting, especially for small and medium scale businesses.
- You can easily integrate your data from other sources into ClicData’s personal data warehouse
- It helps you clean and process your data using a proprietary ETL system
- Clic’s reporting tools generate intuitive reports, which you can access by simply dragging and dropping your data onto the platform
Kloudio’s versatile platform comes with outstanding analytical and reporting tools. Kloudio’s reporting solutions are easy to use and create intuitive reports efficiently. The tool is excellent for your business, especially if you want a single platform to handle your analytical and reporting needs.
- It builds its reports using customized formulas that sync with your underlying data
- Schedule report refreshes (time intervals include minutes, hours, and days options)
- Enable email notifications for your scheduled reports
- Integrate data from other spreadsheets directly into specific cells
- Perform time-series analysis across the data snapshots
7. Izenda Reports
Izenda is a perfect reporting tool for all business types. You can decide when and how to access your data using Izenda’s reporting tools. The platform is easily accessible through their website and mobile applications.
- It comes with real-time customization and report sharing facility
- The platform ensures integrated security
- You can add filters to your data to represent the data as per your needs
- You can build charts and grids from your data
8. Microsoft Power BI
Microsoft Power BI is an excellent tool to analyze and report data in easy-to-visualize formats.
- It comes with a vast library of pre-built visuals
- Power BI comes with more than 120 free data source connectors
- This platform supports AI-based data preparation and modelling
- You can use languages like DAX, Power Query, SQL, and Python on this multi-language platform
To experience true freedom for reporting and data analysis, you have to try out the services offered by Kloudio. Kloudio’s free account feature will let you try their services for free, for a limited time period. Once you feel you are satisfied with what they have to offer, you can always opt for a premium account.
To create your free account, click here.