Today’s management teams must rely heavily on business charts and business reports to make decisions and run their business efficiently. Management teams are especially crunched for time and need quick easy ways to analyze large amounts of data and information and make informed decisions. Without the support of their employees these management teams would be unable to perform their responsibilities and drive the business in the right direction. Fortunately management does have the support of their employees and are able to take advantage of informational documents, such as a business chart and a business report.
Because supplemental tools like business charts and business reports are so vital to the success of a company, let’s take a minute to review how management can use these documents as they seek to identify key performance indicators and make decisions that will ultimately drive the success of their business.
A business chart can provide management with a wealth of information. In addition to the valuable information a business chart provides, it also presents information in a manner that is easy to view, analyze and interpret. The value a business chart offers cannot be overstated. To begin with a business chart saves the management team time. Think about the difficulties involved in sifting through page after page of data and trying to make meaningful decisions based on what you gathered from that data. Now think about the ease of viewing that same information on one single page that offers a graphical representation, like a business chart does, and how much easier it is to not only understand what the data is telling you but also to make decisions based off of the information present by the business chart. As you can see, making use of a business chart allows management to cut down on their time spent analyzing and interpreting information and spend more time making decisions that will drive the company to future success.
Likewise, a business report can offer similar value to the management team. As a manager one is asked to make decisions concerning a variety of aspects within the business. Management is expected to know the ins and outs of every portion of the business. Again, the management team’s time is valuable and they can hardly be expected to spend the time getting to know the business at every core level. Time simply does not permit this. Thus management must rely on business reports from its supporting cast to keep them up to date on the various departments and divisions within the business. A valuable business report will provide a concise yet detailed overview of the condition of the divisions. In this way a business report can keep a manager in tune with his subordinates and ensure he has a firm grasp on the direction the company as a whole needs to take.
If anything, the key to helping management make the right decisions is being able to provide them with valuable and accurate information, whether it be in the form of a business chart or a business report, so that they can make informed managerial decisions ensuring the firm is headed in the right direction.
Business Chart and Reporting
Business Reporting: Chart and Graph
Business reporting is not always easy. Too often we can get swamped down in paper work and long, exhaustive reports that offer entirely too much information. Your business reporting does not have to end up like that. If you find yourself caught in this trap of creating long boring reports that nobody wants to read then perhaps it is time you find a new way to present your findings.
Have you ever heard of a business intelligence tool? Chances are you haven’t and that is okay. I will explain exactly what a business intelligence tool is. Quite honestly, it is pretty simple. A business intelligence tool is a tool that allows you to present information in an intelligent and meaningful manner.
One such business intelligence tool that allows you to do this is known as a dashboard. A dashboard is simply a means of displaying information. There are a variety of different kinds of business dashboards that you can use to display the information compiled in your reports. The dashboard facilitates this process by making it extremely easy to convert information into charts and graphs.
When you display information in charts and graphs it is easier to understand and interpret the data. In turn this makes the business reporting process that much easier and meaningful. You can offer the information you have researched to your boss in a much more efficient manner than a 50 page report. We all know your boss isn’t really interested in reading that long boring report so why should you waste your time preparing it? The answer is you should not waste all that time writing a report. Rather, you should spend your time analyzing the numbers and preparing a short presentation using charts and graphs like a pie graph to present your findings on business aspects like the latest changes in market share. Certainly, your boss would much rather take a look at a pie graph and visually see how your market share has grown while the competition’s piece of the pie has shrunk.
Through a dashboard, making better use of a chart and graph is entirely possible. You can use a pie graph to display other vital information. For instance you might rely on a pie graph to show how the percentage costs of various components of your product compares. Such a pie graph could assist you in easily identifying the component costs that are out of line with the all the others. With this knowledge in hand you can then make the appropriate recommendation to your boss. He will appreciate the visual representation of the component costs displayed by the pie graph, and will be more likely to respond to your recommendations.
In this manner the business reporting process can be simplified and improved, through the efficient use of a great business intelligence tool such as a management dashboard. The incorporation of the visual aspect into your brief report, like charts and graphs, will prove more valuable and useful to your boss. So next time you have to prepare a report, think outside the box and impress your boss by taking advantage of informative charts and pie graphs to support your recommendations.