Reporting Snapshot in Salesforce

Understanding your company’s past performance through historical data offers a comprehensive view of your business health and progress towards achieving your long-term objectives.

Analyzing past trends is insightful and instrumental in shaping future strategies by identifying which approaches have yielded the best results. However, the challenge often lies in efficiently collecting and managing this historical performance data, which can be complex without the right tools.

This is where Salesforce reporting snapshots become invaluable for business executives and agency owners. These snapshots enable users to capture and preserve specific data sets at given points in time, facilitating easier access to and analysis of historical data.

In this blog, we will cover:

• Reporting Snapshots and its main components
• Reporting Snapshots vs Traditional Reports
• How to create a Salesforce Reporting Snapshots
• How to schedule Reporting Snapshots 
• How to analyze Reporting Snapshots
• How to integrate Reporting Snapshots
• More about customization and Formula Field

What is Reporting Snapshots?

A Reporting Snapshot in Salesforce is a feature designed to capture and store data from reports at scheduled intervals. This allows for tracking and analyzing historical trends over time, something that regular reports in Salesforce can’t do since they only display current data. Reporting Snapshots are handy for monitoring and evaluating data changes over time, such as sales performance, case resolution times, or marketing campaign effectiveness.

A Reporting Snapshot in Salesforce comprises three main components:

• Source Report: The underlying report provides the data you want to track over time. The Source Report is a tabular or summary report.
• Running User: The Running User determines the data visibility in the snapshot. This user’s security settings dictate what data can be captured in the snapshot. Your snapshot data should be accessible to the Running User.
• Target Object: This is a custom object storing the snapshot data. Each row of data in your source report is saved as a record in this custom object. The target object fields match your source report columns.

When setting up a Reporting Snapshot, you define when and how often the snapshot is taken. For example, you might capture monthly sales data on the first day of each month. This data is then available for reporting and analysis, separate from the live, current data in Salesforce.

Also Read – Types of Reports in Salesforce

Reporting Snapshots vs Traditional Reports

Salesforce Reporting Snapshots and traditional reports serve distinct purposes in data analysis and reporting, each fitting different use-case scenarios. Reporting Snapshots are particularly valuable for capturing and analyzing data trends over time. For instance, a business might use them to track monthly sales figures, allowing for a comprehensive view of how sales fluctuate seasonally or in response to marketing campaigns. This longitudinal data is invaluable for strategic planning, as it helps identify patterns and informs forecasting. 

When it comes to making decisions in real-time or near-real-time, standard Salesforce reports are the way to go. They provide up-to-date insights into current data, crucial for day-to-day operations. For example, a manager might use a traditional report to assess current quarter sales figures to make immediate strategic decisions or a daily report to monitor open customer service cases. This real-time data is essential for operational management and immediate performance assessment.

The organization’s unique requirements will determine whether standard reports or Reporting Snapshots are better suited. Reporting Snapshots are the go-to tool for long-term trend analysis and historical data tracking. They require more initial setup, such as defining the source report, running user, and target object, but their value in providing a historical view of data is unmatched. 

On the other hand, traditional reports are more appropriate for real-time data analysis, operational reporting, and scenarios where current data is crucial. They are easier to set up and modify, making them ideal for agile, day-to-day business operations. In essence, while Reporting Snapshots offer a window into the past, helping to chart future strategies, traditional reports act as a mirror, reflecting the current state of affairs for immediate action and decision-making.

Benefits of Using Salesforce Reporting Snapshots

• Historical Trend Analysis: Reporting Snapshots enable businesses to track changes and trends over time. For example, a company can use snapshots to monitor monthly sales revenue. By capturing this data each month, the company can identify seasonal trends, measure the effectiveness of marketing campaigns, or spot sales dips that may require intervention.
• Performance Tracking: For instance, a customer support team’s average response time to customer inquiries can be captured weekly. This data helps assess whether new policies or training programs improve response times.
• Forecasting and Planning: By analyzing historical data, businesses can make more informed predictions and plans for the future. For example, a retail company might analyze past holiday season sales data captured in snapshots to forecast inventory needs and set sales targets for the upcoming season.
• Data Consistency and Accuracy: Since the data in Reporting Snapshots is captured automatically based on a set schedule, it ensures consistency and reduces the risk of human error. 
• Customized Reporting: Organizations can create customized reports using the data from Reporting Snapshots to meet specific analytical needs. For instance, a non-profit might track the donation growth over time, using snapshots to create a custom report showing year-over-year changes in donor contributions.
• Enhanced Data Visualization: With historical data stored in snapshots, businesses can use Salesforce’s reporting tools to create more dynamic and informative visualizations. For example, a company can generate a line graph showing the progression of lead conversion rates over several quarters, helping to visualize trends and patterns more effectively.
• Resource Allocation and Management: Companies can allocate resources more efficiently by understanding trends. For instance, if a snapshot shows that customer service inquiries peak during certain hours, a call centre can allocate more staff during those times.

How to Create a Salesforce Snapshot Report

Define Your Source Report:

• Create a tabular or summary report in Salesforce that includes the data you want to track over time.
• Make sure the report is saved in a public folder if it needs to be accessed by multiple users.

Create a Custom Object for the Snapshot:

• Go to Setup and create a new custom object to store your snapshot data.
• Create fields in the custom object that correspond to the columns in your source report.

Set Up the Reporting Snapshot:

• In Setup, go to ‘Reporting Snapshots’ (previously known as ‘Analytic Snapshots’).
• Click ‘New Reporting Snapshot’.
• Enter a name and description for the snapshot.
• Set the Running User, who will determine the data visibility in the snapshot.
• Select the original report and the desired custom item.
• Connect the dots between the fields in your custom object and the ones in your source report.

How to Schedule a Reporting Snapshot in Salesforce

Scheduling the Snapshot:

• While still in the Reporting Snapshot setup, find the section for scheduling.
• Choose the snapshot frequency (daily, weekly, monthly, etc.).
• Choose the desired beginning and ending times and the current time for the snapshot.
• Save your settings.

Monitoring and Adjusting the Schedule:

• You can monitor the scheduled snapshots and adjust the frequency or timing based on your reporting requirements.

How to Analyze Reporting Snapshots from Salesforce

Create Reports Using the Snapshot Data:

• Now that your snapshot data is stored in a custom object, you can create new reports using this object as the data source.
• Use Salesforce report builder to create reports, dashboards, or charts based on this historical data.

Keep An Eye on Trends and Patterns:

• Utilize various reporting features like summary formulas, groupings, and charting to understand the data better.

Focus on Data-Driven Decisions:

•  Incorporate your analysis’s findings into your company’s strategy and decision-making.
• To keep your reports up-to-date and relevant, review and update them often.

Integration with Salesforce Dashboards

• Create reports using the custom object where your snapshot data is stored.
• Add these reports to a Salesforce dashboard.
• Use various dashboard components (charts, tables, gauges, etc.) to display snapshot data in an informative and interactive manner.

Customization and Formula Fields

1. Customizing with Formula Fields:

• Use formula fields in the custom object to calculate metrics based on snapshot data.
• For example, create a formula field to calculate the percentage change in monthly sales.

Examples of Custom Formulas:

• Growth Rate: ((Current_Month_Sales__c – Previous_Month_Sales__c) / Previous_Month_Sales__c) * 100 to calculate month-over-month sales growth.
• Year-to-Date Performance: Aggregate metrics to show year-to-date figures compared to previous years.

Conclusion

Without a doubt, there are several advantages to incorporating Salesforce reporting snapshots into your company processes. Using these pictures, your business gets a significant leg up in analyzing performance patterns. When you can see the whole picture, it’s much easier to gauge your company’s health and make smarter choices.

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