Better BI reporting for smarter decisions

How to Build Better Business Intelligence Reporting for Smarter Financial Decisions

Companies today face a flood of data - from operations and sales to supply chain, HR, and beyond. But the real challengeisn’t collecting it, it’s making sense of it, fast. That’s where business intelligence reporting comes in.

Rather than relying on gut instinct or outdated spreadsheets, organisations now turn to business intelligence (BI) to convert raw data into insight. If done well, it supports better forecasting, strengthens accountability, and helps leaders make decisions with confidence. But how do you actually do it right? Let’s break it down.

What Is Business Intelligence Reporting?

Business intelligence reporting refers to the process of collecting, analysing and presenting business data to inform decision-making. It typically involves using software tools to create dashboards, visualisations and reports that reflect what’s happening across departments.

The goal is to support strategic decisions using reliable, timely data, not just generate nice-looking charts. Good BI reporting answers real questions: Which products are underperforming? Are we meeting targets? Where are costs drifting out of control?

To make it workyou need more than technology. You need clear thinking, collaboration between teams and a commitment to improving how data is used.

Step 1: Start with Strategy, Not Spreadsheets

Start with the business need, not the data. Too many reporting projects begin with questions like “What can we measure?” instead of “What do we need to understand?”

You’ll get far better results if you reverse that. Talk to stakeholders, CFOs, heads of departments, team leaders, and find out what insights they lack. Do they need a better grip on project costs? More visibility over customer churn? Tighter forecasting around cash flow?

The value of business intelligence reporting lies in how it answers those questions. If you can’t connect each report back to a decision someone needs to make, you risk wasting time building dashboards no one reads.

Step 2: Break Down Data Silos

The next step is getting your data in order. Most organisations use a mix of systems for finance, sales, HR and operations. These often don’t talk to each other. That’s where BI software comes in, helping you unify data in one place, so you can analyse performance across the business.

You need to make sure your data is clean, consistent and structured. Otherwise, reports won’t be trusted. That means checking for duplicate entries, agreeing on naming conventions, and aligning metrics across teams.

A system like Mercur Business Control makes this easier by integrating budgeting, forecasting and reporting. It supports transactional-level detail and allows finance teams to create dashboards, automate reports and run scenario analysis, all from a single source of truth.

Step 3: Focus on KPIs That Move the Needle

With data in place, focus on building reports that track what matters most. Don’t try to track everything, you’ll overwhelm the audience and bury key insights.

Instead, work with teams to define KPIs that align with strategic goals. These might include:

  • Gross margin by product or region

  • Budget vs actuals over time

  • Variance in revenue forecasts

  • Operational cost breakdowns

  • Customer lifetime value

Each department may have its own KPIs, but make sure there’s a consistent structure and logic behind what’s reported. If different teams define “customer churn” in different ways, reporting quickly loses credibility.

Stick to clean, relevant visualisations, like bar charts, line graphs, and tables. Avoid overcomplicating things. A good report makes patterns obvious, flags problems early, and helps managers act without needing extra explanation.

Step 4: Use Dashboards for Real-Time Monitoring

One of the biggest shifts in business intelligence reporting is moving from monthly static reports to real-time dashboards. Instead of waiting for an email or PowerPoint, users can log into a platform and explore data on demand.

Interactive dashboards allow users to:

  • Filter by department, time period or region

  • Drill into individual transactions or exceptions

  • Compare actuals against budgets and forecasts

  • Test out different assumptions using built-in scenarios

This empowers decision-makers to get answers faster and respond to issues sooner. For example, if costs in a particular department start to spike mid-month, managers can spot the trend and intervene before it escalates.

Make sure dashboards are tailored to the audience. Executives may want high-level overviews, while analysts or finance leads might need detailed breakdowns. Every dashboard should have a clear purpose. If someone can’t explain why it exists, it probably isn’t needed.

Step 5: Look Forward with Forecasts and What-If Analysis

Reporting shouldn’t only look backwards. While understanding past performance is important, you also want to explore what might happen next.

This is where forecasting and scenario planning become valuable. By linking historical data with assumptions about the future, you can build rolling forecasts, spot trends early, and test different outcomes.

For example, you might want to know:

  • What happens if sales drop by 10% next quarter?

  • How will a price increase affect profitability?

  • Can we afford a headcount expansion in Q4?

Solutions like Mercur make this kind of analysis easier, as they allow you to model different scenarios within the same environment you use for budgeting and reporting. It means you’re not jumping between spreadsheets or retyping formulas.

Scenario-based planning helps leaders prepare, not just react. This is a major benefit in uncertain markets.

Step 6: Review and Refine Regularly

No report is perfect forever. As your business changes, so do your priorities. A dashboard that made sense six months ago might be outdated now.

That’s why you need a process for reviewing and improving business intelligence with reporting. Schedule time each quarter to assess which reports are being used, which ones are ignored, and what new questions have emerged.

It’s also smart to monitor ad hoc report requests. If the same queries keep coming up, you may want to build them into regular dashboards. This reduces manual work and makes sure people always have access to the insights they need.

Gather feedback from end users as well. Ask if reports are clear, relevant and timely. Sometimes, a small change, like renaming a chart or reordering sections, can make a big difference to how useful a report is.

Step 7: Make Reporting a Team Sport

Finally, don’t treat reporting as something only finance or IT handles. Great reporting happens when finance, commercial teams and operations work together.

Encourage teams to discuss reports in meetings, share dashboards, and build a culture where data backs up decisions. Train users where needed and make it easy to access the right information without needing specialist help.

The best BI systems are self-serve, not locked behind one team. When everyone in the organisation can explore data, ask smart questions and test ideas, reporting stops being a burden and becomes a habit.

Key Takeaways for Finance Teams

Business intelligence reporting is about equipping your organisation to make better decisions, faster. That means starting with the right questions, connecting reliable data, and creating reports that people trust and use. With the right mindset and the right tools, reporting becomes more than a monthly routine. It becomes a strategic asset.

If you’re looking to improve your approach to business reporting, systems like Mercur offer a flexible, integrated way to bring planning, analysis and forecasting together. It could be the change that turns your reporting from reactive to proactive.

Ready to see smarter reporting in action? Book a demo with Mercur and discover how we help finance teams turn insight into impact.

 

Mercur Solutions (UK) Limited - UK office

Mercur Solutions Limited
Lily Hill Court, Lily Hill Road, Bracknell, RG12 2SJ
United Kingdom
+44 (0) 1344 388 025

Mercur Solutions AB - head office in Sweden

Mercur Solutions AB
Vretenvägen 13
SE-171 54 Solna
 
+46 (0)-459 69 00

 

Malmo Office

Rundelsgatan 16
SE-211 36 Malmö
 

Gothenburg

Västra Hamngatan 21
SE-411 17 Göteborg 

Mercur Solutions

A Swedish company with 50 years of experience, delivering solutions for performance management and business intelligence.

 

 

 

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