The use of reporting analytics solutions does not need to be all that complex, as organizations can simply implement the relevant solutions to streamline various recordkeeping and content management procedures. In fact, even the simplest reasons for deployment can have significantly positive impacts on the average business, reducing the rate of error in data entry and management, speeding up responsiveness to compliance and improving the overall efficiency of information governance-related tasks. 

Still though, the most successful companies are those that look beyond simple improvements and toward more progressive ones, and the diversity of potential reporting analytics software uses is relatively boundless. In a word, these tools will help decision-makers and managers gain insights into any piece of operations they choose to investigate, and in a more efficient fashion that traditional analysis would have been able to yield in the past. 

Sometimes, the best way to get a clear understanding of just how open the potential uses of modern reporting analytics are is to look at ways in which certain organizations are applying the technologies to their specific needs. Remember, the most effective deployments will be carefully and closely aligned with specific needs, and having a clear line of realistic objectives and expectations can boost returns on investment in the end. 

Health care, outside the box
DebMed recently conducted and released its third annual survey on hospital hygiene reporting, finding that many health care organizations are having difficulty when it comes to tracking activities and obliging compliance. However, it appears as though reporting analytics solutions are increasingly viewed as a potential way to alleviate these problems on a large scale, as they can more efficiently and accurately trace compliance-related data. 

According to the analysts there, 13 percent of respondents to the survey stated that they trusted the data they have on hand is accurate, while only a slight majority of them are confident that their facilities are at least close to being compliant with statutes and regulations. Much of the survey was related to hand washing and hygiene among employees, which are heavily governed given the risk of spreading infections and other issues to patients when practitioners are flippant in these matters. 

The researchers stated that more than three-quarters of the respondents believe that taking electronic approaches to these types of compliance reporting and monitoring requirements is the most accurate path forward, and that even the idea of having these solutions in place would likely have a positive impact on the behaviors of nurses and doctors. 

"The survey results are promising, yet accurately represent the challenges the industry faces in regard to clean hands and safer care for patients," Heather McLarney, DebMed's vice president of marketing, affirmed. "The numbers confirm what we hear firsthand from infection preventionists. They and other hospital staff want to implement the best hand hygiene practices for improved patient safety and health, but they face the reality of a host of other IT priorities competing for funding and focus like Meaningful Use, ICD-10 and EHR implementations."

Finally, DebMed noted that there has not been all that much of an increase in the use of electronic monitoring solutions, but that more widespread use of reporting analytics is likely a necessity to begin improving performances in this regard. 

Further implications
While this is a highly targeted and unique example of how reporting analytics can be used, business leaders should remember that they likely have somewhat similar needs which can be reconciled with these technologies. Who would not benefit from a more efficient, speedy and accurate system to cover various reporting, compliance and analysis needs? 

The sheer popularity of these solutions should also indicate that a growing majority of organizations are beginning to wise up to the benefits of these investments. For example, MarketsandMarkets released a study that found analytics solutions represent a total global market size of $3.61 billion in annual revenues today, and that this number will almost triple by 2019 to $9.89 billion. 

As such, business leaders who have not yet considered embracing these tools should do so soon, as failure to leverage all of the most effective solutions available can lead to a significant competitive disadvantage.