Data has grown exponentially since computers were invented (Moore’s Law) and the information we now store in a myriad of ways has shaped the world we live in. There was a time when hardware in computers just could not cope with storing the granularity of data required to drive fast, localized decisions, however, presented in the right fashion, this granularity of data allows us to make more informed decisions.
Reporting is built over the top of the business processes associated to ERPs, TPMs, CRMs and RE solutions to help present information to the end user – bringing multiple ‘big data’ sets to help with the reporting. The process of reporting has evolved into what we now call “Analytics”.
We are now in the next evolutionary stage of reporting – it’s not just about better analytics, but also about using the data to help suggest specific courses of action to the end user – ‘Smart Analytics’. Artificial Intelligence (AI) has crept in.