Business Intelligence In the Real World: When Excel Spreadsheets Don’t Cut It
Don’t get me wrong, Excel is great for things like data tracking, budgets, spreadsheets, etc. But what Excel can’t do is provide insight into the story behind the numbers. What little insight you do gain is only as accurate as the data entered – and with manual data entry in Excel, errors are inevitable. What’s worse is that manual data entry is labor and time intensive. If it takes that long to enter the data, imagine how long it takes to analyze it, let alone see the insight behind it?
What’s missing: business intelligence that reveals the true, accurate story behind the numbers without the manual Excel data entry and analysis. Let’s look at a real world example.
Real estate investment firms must be able to monitor, analyze and act on portfolio data. They must be able to:
- Perform analysis and prepare reporting for investors
- Monitor and identify trends across geographies, markets and time
- Make informed decisions quickly
Manual Excel data entry and analysis can lead to inaccurate information and make it difficult to see trends and patterns over time. But a strong business intelligence solution can enable a real estate investment firm to perform robust portfolio analyses as well as dashboards that quickly and easily show the true story behind the numbers.
Unlike an Excel spreadsheet that takes many hours and resources to complete and verify, a business intelligence solution allows you to access accurate data when and how you need it. It’s simple and fast, and our clients can answer strategic questions like: which property managers are managing occupancy best? From there, you can answer even more questions like: which of those property managers are best managing base rent in comparison to market comps?
There is a misconception, particularly in the real estate industry, that business intelligence solutions come in two sizes: standard out of the box with little room for customization or highly customized with a steep investment price to match. Today, that’s no longer the case.
If you’d like to discuss our Business Intelligence solutions in more detail or to see a demo of RealAnalytics, call me at 630-286-8155 or contact me at email@example.com. We’ll help you say goodbye to Excel spreadsheets and put business intelligence to work for your bottom line.