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REV Manual Data

Turn your Google Sheets and CSV data into actionable insights with REV

Spreadsheets are an undeniably useful tool. When it comes to calculating data, you’ll be hard pressed to find a more robust, readily available solution. But when it comes to reporting, spreadsheets
cause major problems. Here are three ways spreadsheets are hurting your bottom line when you use them for reporting and performance management:

 

1.Utilizing spreadsheets is time consuming
2.Utilizing spreadsheets leaves you susceptible to errors
3.Spreadsheets are difficult to consume

 

 

1.Utilizing spreadsheets is time consuming

 
Research examined the use of spreadsheets in business settings, from small-to-medium businesses to Fortune 500 organizations. According to research, users spend 12 – 18 hours each month performing “spreadsheet maintenance”—updating, revising, consolidating, modifying, and correcting spreadsheets. Even executives can’t get away from it: reports show that the front office dedicates an average of 15 hours per month to spreadsheets.
 
After you and your teams assemble data, the analysis begins—and it takes several days. 81% of business professionals are combining data from an average of five spreadsheets to answer just one business question. Research in the finance department also reveals that 80% of finance leaders say the analysis requires several days, and 75% say their staff is not analytical enough to handle the processes quickly and accurately.
 
With all the time your teams spend focused on creating spreadsheets, you’re burning through payroll and losing valuable time and resources. In the end, today’s business solutions are far better equipped to automate the vast majority of data aggregation and calculations that many teams are still trying to accomplish by hand.
 
 

2.Utilizing spreadsheets leaves you susceptible to errors

 
The most recent research on spreadsheet usage reveals that 88% of spreadsheets contain errors—meaning that almost 9 out of 10 spreadsheets in your organization today likely have a mistyped cell or erroneous calculation. Getting rid of human error is easier said than done—but it can be done, or at least mitigated. By tying your data sources directly to a platform that can gather data in real time, you eliminate the need to transfer everything through a spreadsheet before it gets calculated and reported.
 
 

3.Spreadsheets are difficult to consume

 
You are visually wired. Fifty percent of your brain is involved with visual processing, and you can get the sense of a visual scene in less than one-tenth of a second. You remember 80% of what you see, 20% of what you read and 10% of what you hear, and color visuals increase the willingness to read by 80%.
 

Although the answers to your questions may be found in that gigantic grid somewhere, no one wants to dig through the spreadsheet to find them. Instead of mind-blurring columns, rows, text and numbers, you need visual indicators so you can spot trends or outliers and make revenue-impacting decisions at a glance. The data located in spreadsheets is crucial for your business. But you might be missing key revenue indicators that are hopelessly lost in endless rows, columns and cells.
 
 

Visualize your data and create actionable insights with REV

 
When it comes to reporting data, spreadsheets are time consuming, error prone, and difficult to consume. And business leaders know it—75% of businesses want to make real-time connections to company data, and 72% want reports that decision makers can refresh or filter themselves. Business leaders need the ability to take action with the most accurate, current information without waiting for reports to be updated.
 
REV brings data from your spreadsheets or application into a single real-time platform. Decision makers can access the data they need, when they need it, without having to wait on any reports. And it completely transforms the way you manage your business. To learn how REV makes your spreadsheet data more valuable contact us today for a demo.
 
 
 

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