Collaborative analytics is the latest trend in business reporting and intelligence and we believe it is here to stay. Collaborative analytics is when multiple people in a company can review, analyze, and compare data from business operations. The concept isn’t new, but the practice of collaborative analytics needs better data accessibility, ease of use, and shared systems. The advent of cloud ERP and mobile access has finally provided the technology to back up the practice.
Cloud Technology Enables Easy Data Sharing
Cloud technology has revolutionized the world of business intelligence. Business intelligence systems, themselves, make it easier than ever before to share data; but, the cloud has pushed data sharing from seat-based access to anytime, anywhere data.
Shared Data Leads to Better Business Insights
Information used to flow in one direction: from the top down. Corporate leaders received data input from their teams and used that data to create elaborate presentations. Data was shared in formal meetings, with someone leading the meeting and presenting the data using a PowerPoint presentation or laboriously written report.
Now, that’s all changed. Today’s business intelligence data flows from one employee to another without someone dictating what data can be shared and what can’t be shared. Everyone on the team who has access to the business intelligence system can find and use data from all points within a company.
The resulting free flow of data means that everyone has an equal say in how the data is used. People can collaborate more easily on projects and seek advice from others using shared data resources. The resulting collaboration builds a better business thanks to improved access to data and more creative minds analyzing it.
Analytics for Everyone
This combination of cloud technology and improved sharing of data leads to bigger and better changes for an organization. “Analytics for all” is the rallying cry of the new generation of business intelligence systems.
Systems once limited to access on-site can now be viewed at home on a tablet, on a smartphone while at a client’s office, or anywhere employees are working. Reports can be run from the business intelligence system that makes it easier for everyone to understand and use data.
More information, with improved access and easier interpretation, means that your employees can contribute more to the development and improvements in your business. Using data as a springboard for decisions becomes the norm for all rather than the purview of a select few executives.
Acumatica 2018 Business Intelligence with Reporting, Dashboards and Data Analysis
The latest release of Acumatica cloud ERP has moved all of its self-service reporting and analysis tools to one, easy-to-find location: the Reporting Dashboards, and Data Analysis Toolkit. Here, you will find over 250 reports, personalized dashboards, business intelligence tools and the ability to make data inquiries.
If you would like to learn how to implement collaborative analytics in your business, ASI can help. Contact us to start the discussion.