What is operational reporting?

Dashboards are interactive tools that provide a visual representation of key performance indicators (KPIs) and metrics of operational reporting. They allow finance, purchasing and sales teams to monitor real-time data and make data-driven decisions quickly. Dashboards can be customized to display detailed operational information relevant for different stakeholders. By using dashboards, organizations can automate their reporting process and enhance their ability to respond to short-term changes.

Key performance indicators (KPIs) are specific metrics used to measure the success of various business initiatives. These metrics are crucial for evaluating the effectiveness of business operations and making strategic decisions. Common KPIs include order fulfilment cycle and inventory turnover. By tracking these metrics, organizations can improve business performance and efficiency.

Real-time operational reporting provides up-to-the-minute data that allows businesses to make quick decisions. This type of reporting is essential for maintaining operational efficiency and responding to immediate issues. Real-time data collection is managed in a business intelligence tool like Phocas and updates every time the data sources like ERP changes. Real-time reports are often displayed as dashboards and visualizations, enabling business users to monitor ongoing activities and adjust or streamline strategies.

Operational reports can be categorized into several types, including:

• Daily reports: Provide a snapshot of day-to-day operations
• Weekly reports: Summarize activities and performance over a week
• Monthly reports: Offer a comprehensive overview of business operations over a month
• Ad Hoc reports: Generated on-demand to address specific questions or issues

Each type of report serves a unique purpose and helps in different aspects of business operations, to track progress and make informed decisions.

• Sales reports: Track sales performance and revenue
• Inventory reports: Monitor stock levels and inventory turnover
• Customer service reports: Measure customer satisfaction and response times.
• Financial reports: Provide insights into financial health and profitability
• Forecasting reports: Project future sales based on historical data
• Pricing reports: Analyzes current pricing strategies and their impact on sales and profitability
• Operational optimization reports: analyzes an organization's operational processes to identify inefficiencies, bottlenecks, and opportunities for improvement

These reports are essential for various departments including finance teams, purchasing and operations to ensure that business processes are running smoothly.

Ad hoc reports are created as needed to address specific business questions or issues using data analysis. These reports are highly flexible and can be tailored to provide in-depth analytical reporting on topics. Ad hoc reporting is valuable for business leaders who need quick access to detailed information or data visualizations.