When traditional reporting is counterproductive to performance
The client’s finance division monitors and evaluates key metrics periodically to assess performance across the board. These numbers were being captured through performance reports created monthly by individual business units (BU) for their respective products/services. Each BU, supported by the IT team, would manually extract and consolidate data across sources, crunch the required metrics, and transfer the processed information onto a separate document, sent to Finance for review.
The process was decentralized and the lack of consistency led to the collection of noisy data. It took various teams considerable time and manual effort to extract and process high volumes of data, stealing time away from high-priority tasks which required keen focus and attention.
The reporting was done using traditional tools like spreadsheets and text docs which did not provide much efficiency or depth to the data analysis. Due to these limitations, the final output was static, tabular reports, devoid of meaningful insights, and recommendations.
- Inefficient use of man-hours dedicated to traditional report generation
- IT dependency due to manual extraction and integration of voluminous data
- The significant time lag between report generated and performance evaluated
- Scope for data inaccuracies and misinterpretation due to human involvement
Ready for an AI-powered Upgrade
The client’s reporting needs far exceeded what the current reporting system provided. To derive near-time visibility and meaningful insights from data effectively, the team decided to upgrade from traditional reporting and Phrazor proved to be a good fit to make the switch.
- Phrazor’s AI-powered, natural language generation (NLG) capabilities helped automate the reporting process from end to end
- The team could now create comprehensive, personalized reports, augmented with visualizations, and easy-to-understand narratives
- The performance reports empowered the leadership team with instant access to granular insights, on the fly
- Phrazor simplified the process of data extraction through server integration, ensuring the company's data remained in-house, safe, and secure
- Phrazor’s automated reporting platform helped reduce the time lag considerably
- Operational costs were cut down with man-hours being saved and available for use elsewhere
- Automation facilitated accuracy, consistency and greater transparency in data analysis and reporting
- Auto-generated performance reports provided accurate, dynamic, and easy-to-understand insights written from data in natural language by Phrazor
- 50-60 reports auto-generated monthly for multiple business levels at scale in record time with detailed analysis
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