For prompt receipt of analytical and statistical information on the processing of documents in the data room, a mechanism for automatic reporting is used. This article will explore how detailed analytics and reporting features can improve deal management in the example of the Onehub data room.
Business analytics as a critical component of modern data rooms
Business analytics is becoming an increasingly popular functionality in virtual data rooms. This trend originated a long time ago, even when the first industrial BI systems were created. Still, it has been gaining momentum in recent years due to the emergence of the significant data phenomenon. Soon, interest in analytical solutions in the data room will grow as they allow for solving vital tasks – optimization and increasing the efficiency of activities.
The data room solutions like Onehub are gradually becoming a management system for the most diverse and most demanded business processes, motivating developers to constantly improve our products, implementing functionality that is much broader than data room and covers all business processes of the organization.
Interest in analytical solutions has been growing in recent years and can be explained by the desire of companies to continue development in a highly competitive environment. How to make business processes efficient? In addition, the challenging economic environment puts forward additional requirements for companies to optimize and reduce costs. Where to optimize, what to reduce? Analytics can answer these questions. Modern data rooms contain a lot of information about the organization’s activities: data on approval processes, execution of instructions, meetings held, procurement, and many others. The use of analytical tools to study these data is aimed at solving the above tasks. In addition, it makes it possible to make managing an organization transparent.
The life cycle of business data in the
Reports in the data room system
When keeping records of enterprise contracts using a data room, it will be possible to see the structure of relations for each contract, trace the entire history of correspondence on it, and get a list of all additional agreements, acts, etc. The card of each document contains the details necessary to set the document’s validity period and the conditions for concluding contractual relations. The report can show contracts ending this week, next week, or next month. The data room already includes out-of-the-box reports, but you can continually expand analytical functions with the help of the Analytics add-on module or easily integrated third-party solutions.
Four types of main reports are available to data room users:
- A report on overdue tasks
- Tasks and instructions by executors
- Execution statistics (displays the dynamics of a load of executors on assignments, as well as statistics of active tasks of employees for various periods)
- Instructions under the control of an employee (a list of user instructions divided into completed and unfinished).
As a rule, the data room does not implement a complete set of business intelligence tools. Still, it contains tools that allow you to customize various synthetic and analytical reports and present correctly organized and prepared data for external full-fledged business intelligence.