In today's data-driven business landscape, organizations that can quickly understand and act upon their data gain a significant competitive advantage. Automated reporting tools have emerged as a critical solution, simplifying data analysis and enabling businesses to make informed decisions faster than ever before.
However, when searching for the best reporting software, it's easy to conflate business intelligence (BI) tools and data reporting tools. In an effort to make it clear as to what to look for, we're going to break down the different types of analytics and reporting tools available in 2024.
Throughout this article, we'll explore the key features, benefits, and best practices of automated reporting tools. We'll also share our top 10 favorite reporting tools for 2024, complete with detailed reviews and tips for selecting the best one for your organization. By the end of this guide, you'll have a clear understanding of how these tools can revolutionize your data analysis process and drive your business forward.
1. What are Automated Reporting Tools?
2. Types of Automated Reporting Tools
3. Automated Reporting Tools vs Business Intelligence Tools
4. Benefits of Automated Reporting Tools
5. Best Practices for Report Automation
6. Examples of Automated Reports
7. How to Choose the Right Automated Reporting Tool
8. Top 10 Automated Reporting Tools for 2024
Automated reporting tools are a type of software that organizes and structures your data such that you can analyze it. It pulls data from disparate and varied sources and arranges it in easily understandable charts, tables, and visualizations.
The best automated reporting tools will offer customizable dashboards and a way for each respective party to gain what they need quickly. For automated reporting tools to be able to work properly, they must be able to have access to clean and accurate data for the information and insights to be usable and of value.
Automated reporting tools can be broken down into different categories based on their offerings.
Here’s a look at the types:
Tools that let you build your own reports based on the information you have available internally.
These tools represent data and information using graphs, charts, and maps. Their main goal is to visually express data in a digestible manner.
Business intelligence tools are geared around providing insights that are actionable. They often include interactive elements.
These types of reporting tools display data regarding an application’s performance to help quantify the ROI of an application.
Enterprise reporting tools are aimed at ensuring high levels of security and customization. They can be used to create dashboards and tables to display company information.
Financial reporting software is centered around financial analysis and documents, such as balance sheets, income statements, and cash flow statements.
Automated reporting tools may be code-based, which grant the user total control over the reporting system and offer the ability to customize everything. The caveat is that you need to be tech-savvy and know how to code, which typically requires a skilled IT team.
Low code or no-code solutions, like SolveXia, are quick to implement, deploy, and use. They operate with drag-and-drop functionality and are an out-of-the-box solution that can be used by anyone, no matter how tech savvy they may or may not be. They can also integrate with existing systems using APIs.
Dashboard tools are linked to business intelligence tools and intend to bring data to life. They offer visual KPIs and real-time insights.
We briefly mentioned that it’s easy to consider business intelligence tools and automated reporting tools as the same thing. However, it’s helpful to understand their main differences.
Automated reporting tools are typically limited in scope to be used to compile reports and structure information. The goal is to be able to quickly identify insights.
On the other hand, business intelligence tools are more robust by nature and can handle multiple tasks. They analyze and visualize information and have the power to pull information from multiple business systems to transform data into insights.
If automated reporting tools have limitations, then you’re probably wondering if they are worth investing in at all. They most certainly are. There’s also software solutions that provide automated reporting along with other functions (i.e. SolveXia, but more on that later).
Automated reporting tools make it easy to:
All of these benefits come together to make decision-making stronger. By using data, your team can rest assured knowing that each decision is an informed decision, rather than a guess. In business settings, having insights for decision-making processes can end up saving time and money, protecting your reputation, adhering to compliance and regulations, and reducing mistakes.
When starting out with report automation or looking to make the most out of the software you are already using, it’s great to follow a set of guidelines and recommendations.
Consider these best practices:
Start by determining what you are seeking to gain from a report. Think about what your overall goal is: are you looking to improve customer satisfaction? Do you want to enhance efficiency? Asking these questions is what will let you know the type of automated reporting you need.
Think about what kind of key performance indicators are going to answer your questions or help you to achieve your goals. When automating reports, you’ll get to customize dashboards and visuals, so you can incorporate all the KPIs you want to measure.
Figure out how often you will need to automate reporting. For example, operational reporting is typically executed daily or weekly because it deals with the daily operations. On the other hand, strategic reports may require a bit more time to draw conclusions.
Most automated reporting tools include advanced technologies like artificial intelligence and machine learning. Take advantage of these technologies to streamline your reporting needs.
Choose tools that make sense for your business needs. Think about the long-term goals, too because you may need just an automated reporting tool now but a business intelligence tool with additional capabilities may be better for your business as you scale.
Automated reports help businesses across industry verticals to streamline decision-making and achieve operational effectiveness.
For financial management and strategy, businesses leverage automated reporting to procure financial dashboards with a range of KPIs. For example, you can get a real-time and quick look at working capital, budget variance, and cash conversion cycles. With access to real-time data in a visualized format, you’ll be able to detect any issues early on.
In an increasingly customer-centric business environment, customer satisfaction is always at the top of mind. Customer support teams can leverage automated reporting software to keep track of customer service KPIs, such as issue numbers and response times.
The value of automated reporting tools is undeniable. When searching for the tool that’s best for your business, here’s a list of things worth considering:
Keeping this list of considerations in mind, let's take a look at some highly-touted automated reporting tools that are popular among various business types:
Google Analytics is a free and widely popular reporting tool. Users can integrate a Google Analytics Tracking Code into their website so that the reporting tool can collect data on users’ HTTP requests, operating systems, cookies, and browsers.
Within 24 to 48 hours, Google Analytics populates reports to help businesses track specific KPIs. For example, Google Analytics can tell you how many page views your website got, demographic data of users, bounce rates, and more. Google Analytics is capped at 10 million hits per month for the free version.
Free, with a paid version (Google Analytics 360) for larger enterprises
4.5/5 stars on G2Crowd, with users praising its ease of use and comprehensive data tracking capabilities.
Looker Studio (previously Google Data Studio) is another free reporting tool that enables users to build interactive dashboards. It provides templates but no official support.
Free
4.4/5 stars on G2Crowd, with users appreciating its ease of use and integrations but noting the lack of advanced features.
SolveXia is a human analytical financial automation software tool that provides multiple functions, including automated reporting. SolveXia removes the need for tedious and manual labour by preparing data and creating reports specifically for finance teams and business leaders.
The software is able to automate processes like reconciliations, expense analysis, rebate management, and regulatory reporting, to name a few. With SolveXia, businesses can eliminate data silos, enhance process visibility, and provide for informed decision-making with a low-code/no-code solution.
Custom pricing based on business needs
4.7/5 stars on G2Crowd, with users highlighting its efficiency, accuracy, and time-saving capabilities.
Microsoft’s Power BI is a business intelligence and analytics tool that automates reporting, too. It is aimed at visualising marketing data and can also be used as a project management reporting software. Microsoft Power BI integrates with free connectors and cloud data sources.
Free version available, with paid plans starting at $9.99 per user per month.
4.5/5 stars on G2Crowd, with users praising its data integration, visualization, and analysis features.
Tableau leverages AI and machine learning for marketing data analysis. Its analytics platform can be used for business forecasts and data-driven strategizing. Like SolveXia and Power BI, Tableau integrates with multiple data sources.
Tableau offers several plans, with the cheapest starting at $15 per user per month.
4.4/5 stars on G2Crowd, with users applauding its ease of use, visual analytics, and flexibility.
Domo is a powerful business intelligence and data visualization tool that helps organizations of all sizes make data-driven decisions. It offers a wide range of features, including real-time data integration, customizable dashboards, advanced analytics, and collaboration capabilities. Domo supports data integration from multiple sources, making it easier to consolidate and analyze data for comprehensive reporting.
Plans start at $300 a month
4.2/5 on G2Crowd, with users appreciating Domo’s robust data integration capabilities and intuitive dashboards.
OWOX BI is a marketing analytics platform that provides automated reporting and attribution capabilities. It helps businesses to connect their advertising, sales, and customer data to gain a comprehensive view of their marketing performance.
Custom pricing based on business needs
4.9/5 stars on G2Crowd, with users valuing its data integration, attribution modeling, and reporting capabilities.
Funnel is an automated reporting tool that focuses on marketing and advertising data. It allows users to collect, organize, and visualize data from multiple sources, such as Google Analytics, Facebook Ads, and LinkedIn Ads, in one central location.
Plans start at $399 per month
4.5/5 stars on G2Crowd, with users appreciating its data integration, time-saving automation, and customer support.
Supermetrics is a reporting automation tool that enables users to pull data from various marketing platforms into spreadsheets, BI tools, and data visualization tools. It supports a wide range of data sources and destinations, making it a versatile choice for marketers.
Plans start at $99 per month
4.4/5 stars on G2Crowd, with users praising its ease of use, time-saving capabilities, and wide range of integrations.
Improvado is a marketing data aggregation and reporting platform. It automatically collects and normalizes data from different marketing channels, allowing users to create comprehensive reports and dashboards. Improvado also offers pre-built integrations with popular BI and visualization tools.
Custom pricing based on business needs
4.5/5 stars on G2Crowd, with users valuing its data integration, automation, and customer support.
In today's data-driven business world, automated reporting tools have become indispensable for transforming raw data into actionable insights. These powerful tools enable organizations to make informed decisions, streamline processes, and maximize efficiency by automating data collection, analysis, and visualization.
When selecting the best automated reporting tool for your needs, consider your specific goals, the desired scope of reporting, and the software's user experience. Look for features such as customizable dashboards, real-time data updates, and seamless integrations with your existing systems.
Among the top reporting tools for 2024, SolveXia stands out as a comprehensive solution that not only automates reporting but also streamlines financial processes. Its user-friendly interface and powerful automation capabilities make it an excellent choice for businesses looking to save time and gain valuable insights.
Ready to revolutionize your reporting and financial processes? Request a demo of SolveXia today and experience the power of automation firsthand.
Automated reporting tools are software solutions that streamline the process of collecting, organizing, and presenting data in a visually appealing and easy-to-understand format. These tools integrate with various data sources, such as marketing platforms, financial systems, and business intelligence tools, to automatically generate reports and dashboards. By eliminating manual data entry and manipulation, automated reporting tools save time, reduce errors, and provide real-time insights for data-driven decision-making.
There are several types of reporting tools, but three common categories are:
An automatic reporting system is a software solution that automates the process of collecting, organizing, and presenting data in the form of reports and dashboards. These systems integrate with various data sources to extract and transform data, apply business rules and calculations, and generate visually appealing reports on a scheduled or real-time basis. Automatic reporting systems help organizations save time, reduce manual errors, and gain actionable insights from their data.
The most used reporting tool varies depending on the industry, organization size, and specific use case. However, some of the most popular and widely used reporting tools include:
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Download our data sheet to learn how you can run your processes up to 100x faster and with 98% fewer errors.
Download our data sheet to learn how you can run your processes up to 100x faster and with 98% fewer errors.
Download our data sheet to learn how you can run your processes up to 100x faster and with 98% fewer errors.
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