Nowadays there are a variety of methodologies to solve complex problems in companies. One of these tools is the analytical report, but how to write an analytical report? To understand how analytical reporting tools work, it is important to know what they are. Let’s take a look at it below.
What is an analytical report?
Before knowing how to write an analytical report, it is essential to know what exactly it is. It is a type of report or assessment of a set of circumstances related to the performance of an organization or company.
The data is collected, analyzed and displayed to evaluate the actions to be taken in a given department. Analytical reporting tools are applied to all departments of the company to determine their performance.
Analytical reports serve a myriad of purposes, including:
When the employees of an organization handle the same information, there is more communication between all of them. It is also possible to find mutual solutions to problems affecting the company.
When the employees of an organization understand the circumstances of their department, they know what to do to solve the problems that arise. This makes the company more productive and efficient.
More accurate reporting
Quality reporting requires the collection of quality data. The great advantage of analytical reporting is that it includes the indicators that affect business decisions. In addition, it uses graphs to better understand and act on the information.
How to write an analytical report for my business
To write an effective analytical report that generates solutions, estimates and recommendations, it is necessary to consider the following guidelines:
Identification of the problem
The first step in writing an analytical report is to identify the problem or specific situation of the company. The next step is to explain who is affected by the problem.
When specifying the situation, indicate where it started and what measures have been implemented to deal with it. It is also important to detail whether these measures have worked or not.
Explanation of methods
The second step is to explain the methodology in detail. Start by detailing the type of methodology used. Be sure to be as detailed as possible. It is also essential to determine some alternative methodologies to solve the company’s situation.
The third step in knowing how to write an analytical report consists of analyzing the information obtained. Here we will focus on the strengths and weaknesses of the previous steps. The report should include a detailed analysis of each of the data collected. This will support the statements made.
Analytical Report Format
The analytical report format should have the following sections. First, the name of the problem related to the company. Second, the background, i.e., a brief explanation of the situation to be addressed. Thirdly, we will mention the activities carried out during the analysis. Finally, we must write the conclusions.
To justify the conclusions it is necessary to attach some annexes, such as documents, images and the sources with which the report has been prepared.
The most important characteristics of an analytical report
There are generally two relevant features to address when writing an analytical report. The objective of these features is to make a solid assessment.
In order to know how to write an analytical report, it is necessary to look at quantifiable information. This information will be used in the statistical analysis of the organization. An example of a quantitative data analytical report is the amount of revenue a company generates during a year. Quantitative data is distinguished by being numerical and factual.
Another key to knowing how to write an analytical report is to consider non-numerical data. This is a series of data that describes the situation of the business or company. This characteristic is purely categorical, as the information is grouped into specific fields. An example of qualitative data is the demographics of customers using an organization’s services.
Now that you know how to write an analytical report, it is time to improve your company’s productivity. At Heinsohn Corp we offer business intelligence and data analysis services to keep your business growing. To learn more contact us today.