TrackResults Analytics is excited to see so many companies maturing in technology. This proactive approach allows aggressive capture of strategic advantages and larger market share, simply by applying higher level analysis than your competitors.
Jesus Betanzos, : VP Latin America BizDev, says, “The primary difference is the ability to easily apply multi-directional analysis to the reports used in the decision-making process.”
In their book “Competing on Analytics,” Thomas Davenport and Jeanne Harris emphasize the importance of trust and credibility between the analyst and decision maker. “Decision makers typically don’t have the time or ability to perform analyses themselves.With a ‘close, trusting relationship’ in place, executives will frame their needs correctly, the analysts will ask the right questions, and the executives will be more likely to take action on analysis they trust.”
General reporting only translates raw data into information, whereas analytics transform data and information into insights. Reporting helps companies monitor their online business and be alerted to when data falls outside of expected ranges. Good analytics should raise questions about the business from its end users.
One way to distinguish whether your organization is emphasizing reporting or analysis is by identifying the primary tasks that are being performed by your analytics team. If most of the team’s time is spent on activities such as building, configuring, consolidating, organizing, formatting, and summarizing — that’s reporting. The goal of TrackResults analytics is to help answer questions by interpreting the data at a deeper level and provide actionable indicators.