Benefits of Utilizing Data Analysis vs Canned Reporting for Jewelry Businesses

Why are canned reports limiting?

Canned reports that may come with a jewelry store management application can be limiting as they do not offer the flexibility to query your data with specific questions relevant to the specific momentary needs of your growing business. Don't get me wrong, canned reports do have their uses such as for gauging repetitive totals, but they are lacking where in-depth or situational data analysis is needed. When it comes to gauging typical business activity, the DCIT BusinessMind app for jewelers displays a selection of key business metrics. These key metrics are on screen real-time calculations of your jewelry businesses “vital signs” that help you keep your thumb on the pulse of your operations. This visual display makes it easy to see these totals at a glance with no need to run a full report.

Why is flexibility more important with reporting?

Flexibility in reporting is always more important as it allows you to focus and crunch numbers for your specific needs. This is where the BusinessMind apps ability to download data with just a single click begins to shine. Clicking on any of the key metrics will download the raw data used in calculating the metric which you can then further analyze. However, this is not where the reporting power ends. The DCIT BusinessMind app is designed to put even more flexibility into the users hands with the use of smart sets. Smart sets are designed to give the user power and control to easily create custom data sets which can then be quickly downloaded and analyzed for your specific reporting needs. The ability to share smart sets makes it even easier to pass the data to other team members.

Why crunch the numbers yourself when you can use analytical suites?

Using powerful spreadsheet programs like Excel or Numbers will allow you to breakdown and analyze specific data with just a few clicks. But why do this manually when there are analytical suites designed to do this work flow for you? The DCIT BusinessMind app has powerful integration options with a variety of external analytical tools. These integration options allow you to connect your BusinessMind data directly to harness the full utility of these reporting, analysis, and dashboarding tools. There are many different suite options available and many of these cost less a month than one spends on Starbucks coffee. Zoho Analytics and Amazon Quicksight are two great options.

Data analysis is important for all jewelry businesses and of course there are different layers of data analysis. Sometimes a key metric is all that is needed where other times detailed, custom, ad-hoc analysis is required. All options are important, but the ease of integrating with an analytical suite is a no brainer.