When it comes to business, it can be risky- yet imperative, to be at the forefront of trending models. In 2022, Forbes published an article observing the trend of businesses shifting their decision-making model from that of gut-reaction to a data-driven approach. They noted that businesses found improvement in two main areas: outperforming competition and customer retention. Those changes make sense considering that as data science advances, additional key information is identified and obtained to help businesses guide their future state in the most beneficial direction for both the company and the consumer.
There is just one catch… visualizing the data is just as important as obtaining the data. Businesses need the ability to view key insights quickly and make informed decisions. Many applications offer some level of reporting, but Salesforce shines in its ability to compile and display data in ways that are customized to show the full narrative.
Types of Salesforce Reports
If you have a general idea of what data you want to view, it is important to choose the type of report that will best display the information. Salesforce currently has four types of reports – Tabular, Summary, Matrix, and Joined. Each one of these reports has something different to offer in visualizing your data.
Tabular – This is for simplistic data that does not need to produce totals, calculations, or more complex formulas. This basic report is designed to visualize lines of data; it is ideal for exporting data.
Summary – Summary reports are created using grouping. For example, if you wanted to see the number or value of opportunities per account, you would group your report by Account Name. By dragging fields under the primary group, you are also able to subgroup fields for deeper insight. This is the most common type of report.
Matrix – Like summary reports, Matrix reports can be grouped by columns, but in addition, they can also be grouped by rows. Referring to the previous example, this would let you see the value of opportunities per account by month.
Joined – Joined reports are ideal for comparing data with side-by-side reports. A joined report would show the total number of opportunities and cases per account, side by side.
Now that you have a general idea of what type of report you want to use, it is a good idea to narrow down the structure of your reporting by asking some key questions. The more you know about what you want your data to tell you, the more efficient building your report can be. To improve your reporting performance within the Salesforce platform, start by asking these questions:
*Tip: Start by writing down the questions you need you report to answer before beginning to build your query to ensure all necessary data is represented.
Questions to Ask
What are your key metrics?
Before you start creating reports in Salesforce, it is important to identify your key metrics or KPIs (Key Performance Indicators). These metrics should be tied to your business goals and objectives. Once you have identified your KPIs, you can create reports to track them.
Is this a case for standard or custom report types?
Salesforce provides a variety of standard report types, but you may need to create custom report types to get the exact data you need. Custom report types allow you to select the objects, fields, and relationships you want to report on.
What filters could help here?
Use filters to narrow down your data and make your reports more targeted. You can filter by date, owner, status, or any other field in your data set. Filters can help you focus on specific segments of your data and make your reports more meaningful.
* Tip: Reports that are well-curated and thoughtfully executed run much faster
Could grouping make this clearer?
Use grouping to organize your data into meaningful categories. For example, you can group your data by product, region, or sales rep. Grouping can help you identify trends and patterns in your data.
And finally…share the wealth!
Use Salesforce’s sharing features to share your reports with other users in your organization. You can share reports with specific individuals or groups, and you can control their level of access to the data.
And finally…share the wealth!
Use Salesforce’s sharing features to share your reports with other users in your organization. You can share reports with specific individuals or groups, and you can control their level of access to the data.
* Tip: Reports are shared via folders, and anyone with access to your folder has access to your report. Make sure to check the folder access level before sharing.
According to McKinsey, “Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.” These statistics are expected to lean even more in favor of data as adoption increases. So, while there is no doubt that obtaining data is increasing informed, statistical business decisions, reporting the data remains a skill to be honed to get the most insight from what is available to your organization.
If you would like more information about setting up your Salesforce reporting, please contact us at [email protected].
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