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How to Solve Your Business’s Reporting Challenges, Part Two

Chris Kennedy Chris Kennedy

We all know that with the right information at our fingertips, we can make the best decisions across all business areas. Last week I discussed how there are four main areas that you need to understand in order to build a reporting system that is up to the challenge for your rental business:

  1. What reports you need to provide
  2. What data you have available for the reports
  3. How to transform your data to the proper format and summary levels required
  4. How your users need to consume the reports

After you have a solid understanding of these four areas, the next step is understanding the data you have available for reporting purposes. There are several elements you should consider that come into play when talking about data.

Understanding these issues can take some time and possibly some help from outside technical expert or vendors if you don’t have a large IT staff.  But even a high level understanding of these key elements will help you determine the best approach to building the metrics and reports you need for your business. Part three of this series will look more in depth at how you may need to “transform” the data you have to actually build those reports and metrics. Stay tuned!

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