WPTechExtrnl

Data Reporting

Quality Decision Making Models

Executive Summary

Data reporting is a collection of information that will enhance accurate analyses to enable organizations to utilize data in an un-bias manner to enhance better decision-making. Without proper data reporting practices organization will be mis-lead into faulty decision-making. Data reporting models are widely used for quality decision making within organizations and actively using information technology that can turn their vast amounts of data into data-driven insight.

Introduction

Data reporting model are known for enhancing the decision-making process and can affect the final choices made. Data reporting minimizes our bias and personality that will influence our decisions. However, a good decision process will help make and provide balance we need between bias and facts to create the best possibilities.

There are many data reporting models used by managers and organizations today. As mentioned by Rosenzweig, “Big data and models help overcome biases that cloud judgment,” and it’s growing power of data reporting models has captured plenty of attention in recent years (n.d., pg. 1). The vast amount of data combined with the sophisticated algorithms has enabled these data reporting models to open up new pathways to enhance organization’s performance (Rosenzweig, (n.d.), para. 2).

Previous Approaches

Data reporting models used previous consist of a lot of data pulling, but not much structure to the data, and most had no set criteria leaving the analyst to take time to sort, and decipher what information is relevant or useful.

New Findings

“Successful data analytics relies on high-quality software programs and skilled interpretation” (Difference Between Operational vs Analytical Reporting, 2018, para.1). Some of the top analytical tools are Sisense, Izenda and BOARD and several more, these software applications provide data analysis along with data visualization, dashboard, strategy planning, etc. (Business Intelligence Software. (n.d.) pg. 1).

Conclusion

Data reporting and sophisticated software assist in a process of better decision-making outcomes, but “effective data analytics relies on the insights and soft skills that machines can’t handle” (Difference Between Operational vs Analytical Reporting. (2018, para 4).

Data analytics also relies on good communication, analysts who look for important information, stripping away irrelevant data so the CEO can focus on making those important decisions. Difference Between Operational vs Analytical Reporting. (2018, para 5).

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