Identifying business performance gaps with distinct narrative insights backed by Natural Language Generation technology
CLIENT: GLOBAL INDUSTRIAL AUTOMATION MAJOR
USE CASE: PERFORMANCE REPORTING
An Indian entity of the Swiss-Swedish MNC, and a global technology leader drives digital transformation in industries like Electrification, Industrial Automation, Motion, Robotics & Discrete Automation. The technology giant undertakes monthly performance analysis across its diversified divisions of products, services, and projects to evaluate their revenue and identify potential growth opportunities.
Struggling with the limitations of Spreadsheet Reporting
Being a Fortune 500 company and having its presence in multiple industries, required its business leadership and other subsequent teams to stay ahead of their game. And to do so, the company was dependent on the performance reports generated on a monthly basis. These reports were created manually by consolidating data across sources, crunching complex numbers and cut-pasting information.
Even though the company had a dedicated team of analysts to look into their reporting needs, they found it difficult to keep up with the high volumes of data and were unable to reach the required levels of data intricacies during the performance analysis. One of the reasons being, the team’s high dependency on traditional reporting tools like Excel and Word document.
Every business unit, w.r.t the allotted products had to manually draft the performance report for the CFO to review. There was no standardization maintained in these reports causing data redundancy and inconsistency. Extracting and processing this high magnitude of data also proved to be a tiresome task.
With all these limitations, the final output was dry tabular reports devoid of meaningful insights and recommendations.
Key Problems Identified:
- A high number of employee hours dedicated to manual report generation.
- High turn-around time of reporting missing out on growth opportunities.
- Lack of insights and unexplained root cause against different market scenarios.
- IT dependency due to the extraction and integration of high volumes of data.
Breaking through the Barriers of Traditional Reporting
Every successful company understands that its data is only as valuable as how quickly and correctly it is being used. The faster a company derives insights from a dataset and applies it to a business decision, the more prepared and equipped it is while facing challenges.
The Fortune 500 company understands exactly how critical it is for team members to be able to effectively manage data. And therefore they chose Phrazor, a natural language generation platform to replace their traditional ways of performance reporting.
- Substituting the manual reporting process with an AI-powered reporting automation platform, Phrazor, facilitated the team to reduce the time lag from days to seconds and also reduce the operational costs by freeing-up the involved resources for other higher-value tasks.
- Phrazor bought in standardization to the reporting mayhem, caused due to the involvement of varied business teams and analysts. Using natural language, the teams could establish uniformity in all the segments of performance reports eliminating any room for misinterpretation and guiding the decision-makers towards one version of the truth.
- Phrazor empowered the business leadership team of the company to have instant access to granular insights, on-the-fly. These insights were in the form of human-like, conversational language which was extremely simple to fathom by the business users. The platform also assisted their analytics team to have alternate perspectives of data which helped them uncover new correlations and root causes that were not visible earlier.
- The team could now create comprehensive personalized multi-dimensional reports, rich with language-based narratives. The performance reports empowered the leadership team to initiate the correct course of action with the help of valuable insights and recommendations banked on predictive analytical capabilities.
- Phrazor simplified the process of data extraction by easily integrating itself with the internal server of the company, providing absolute security and data privacy to the company. The entire configuration was a hassle-free process, executed without any IT dependency.
How the Fortune 500 company leveraged the natural language generation platform, PHRAZOR?
- Easily generate comprehensive reports with simplified commentaries.
- Establish rigor and transparency during performance analysis and reporting.
- Spare a substantial amount of employee time and efforts from report creation, analysis, and syndication.
- Seamlessly integrate the NLG platform with the existing reporting process without any expert’s help.
Potential time saved every month
Earlier, the reports were generated
and distributed automatically
Man hours left for higher value tasks