Chrome River CURRENTS

When you see someone making poor decisions—risky investments, unrealistic scheduling, foolish health choices—it’s tempting to assume they do not have all the facts. In the “big data” era, however, the facts alone aren’t enough to guarantee dispassionate, fully informed decision-making.

If your organization is like most, you already have “big data” — a seemingly bottomless pit of documents, spreadsheets, emails, web-traffic reports, social media interactions and more. When left unorganized, it’s not terribly valuable to you or to anyone else in your business. The key to creating valuable, actionable information lies in how you integrate, analyze and interpret that data.

Efficient marketing! Cost-effective client acquisition! “Big data” seems to promise improvements on every level. But while many organizations already amass copious amounts of data, it remains isolated in operational silos and disparate formats. The keys to uncovering opportunities and creative solutions within your company’s data are increasing transparency and making it easy for users to generate custom business expense reports.

As the economy continues to recover, many companies are now planning to hire additional employees and increase capital investments, according to an article on the CFO Magazine website. When a company has new initiatives on the horizon, it’s more important than ever for managers to track and monitor their employees’ business expense reports.

Whether in business, sports or warfare, we tend to admire leaders who make good decisions seemingly based on intuition and instincts. In today’s complex business world, however, gaining a competitive edge also requires calculated evaluation. Expense management analytics provide powerful tools that can help leaders make better decisions — decisions that combine quantitative and intuitive insights.

We’ve all heard the cliché “numbers don’t lie.” But numbers alone also tell few truths (unless you’re a mathematician). To make good decisions based on data, managers and executives need more than numbers. Analytics and accounting reporting software can help you create meaningful, actionable reports from raw data.

To reveal hidden trends and opportunities, companies can use analytics software to sift enormous amounts of data, looking for an edge. As businesses seek to benefit from “big data,” managers increasingly rely on analytics-based reports to guide their decision-making, according to a post on the Big Fat Finance Blog. A great way for your company to benefit from big-data analytics is by using expense management software.