The amount of digital data generated daily is a staggering 2.5 quintillion bytes! An all-important task for a business related to this fact is to capture, organize, analyze, and interpret the ever-increasing data. Being good at doing this would mean better performance in asset management and other business processes.
But after locating the crucial data, presentation to the stakeholders and decision-makers needs to be clearly articulated so that the essential insights are put to effective use. Advanced reporting works the final magic that ensures the correct use of data.
It provides asset managers with the most detailed information for each asset and allows for customization so that the data is available for users at every level. It’s time companies strived to upgrade to the best reporting tool for the many benefits it offers.
What Advanced Reporting Entails
At the most basic level, a data reporting tool helps the user derive data visually in a preferred format. However, there is an unwritten rule that it should be easy to use this tool. Business decision-makers and readers need to access the tool, so the element of ease of use is crucial.
Advanced reporting takes customization to the next level. You can generate custom asset reports at the click of a button. It has the features to provide data to every level of the business, therefore reducing performance bottlenecks. This kind of reporting provides important data on request and promotes prompt measurement of results and impacts.
Here is an overview of the capabilities of advanced reporting:
- Generation of asset reports on request
- Choosing data sets
- Filtering data to get specific data
- Creating a variety of charts
- Instant reporting/ sharing with the team
- Interacting with data in real-time
With a tool capable of offering this much, your organization can make big strides.
Benefits of Advanced Reporting
When your energy business has a large and growing asset level, an elegant management solution is necessary. Advanced reporting enhances simplicity and efficiency in the organization and customizes asset data like never before. Use this form of reporting for your business and enjoy these benefits:
- Save Time – Powerful features in an advanced reporting tool mean that customizing charts and modifying reports is effortless. Criteria like sort, search, and groups help achieve specific report requirements and generate reports instantly.
- Track spending easily – advanced reporting can also help in tracking the spending in the organization. For a renewable energy firm, this means that something like power plant maintenance is well-tracked, saving resources in the process.
- Easy-to-Use Solution – Users can set up a reporting solution within minutes, even in the absence of an IT expert. You don’t have to wait for weeks for the installation to complete or for a demo schedule. Advanced reporting is user-friendly, a marked difference from most conventional reporting tools. For a web-based solution, data analysis and reporting are extremely easy for everyone on the team.
Identify an Effective Reporting Tool
When choosing an advanced reporting tool, the most important consideration is the flexibility of the solution to meet your business needs. Invest in a tool that covers a wide range of issues, from workflow to employee data. Some of the most important areas are asset maintenance scheduling, asset health, inventory & stock reports, accountancy & financial reports, and asset audit reports. The tool should serve different departments in the organization including Manufacturing, Sales & Marketing, and Finance.
Compatibility with modern gadgets including smartphones, laptops, and tablets is an equally important element of advanced reporting tools. The user should have access from anywhere and anytime. For cloud-based reporting, access is simple as long as the device is connected to the internet.
Renewable energy businesses deal with many types of asset reports and not all may apply at once for every particular asset. No matter the asset or report in question, every manager wants to access asset data promptly and accurately. This leaves ample time to focus on other areas of developing the asset.
Only when the data is comprehensive and relevant that it can be used for making important business decisions. There is no better source of such accessibility than modern asset management software.
Such software has the capabilities and features necessary for the automatic generation of asset reports, as and when needed. Start this incredible journey to advanced reporting with the best tool in the market – QBI Solutions.
How QBI Can Help
Reporting and advanced analytics are some of the most popular features of our platform and they seek to help our customers convert data into value. The capability to integrate all data sources and build a centralized data warehouse is the hallmark of this all-inclusive platform.
Our advanced reporting tool is engineered for full visibility, encompassing all data from the portfolio, from the kWh to the CAFD. The reports are completely customizable, easy to share, and highly intuitive. It is the best platform for stakeholder relations, business intelligence and so much more.
Call our team or ask for a demo to learn more about the incredible attributes of the tool.
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