In an increasingly competitive and disputed scenario, managing a company has become a quite complex endeavor nowadays. It is necessary to rely on multiple sources of information in order to take precise and wise decisions, keeping the business ahead of the competition.
In order to reach this goal, it is essential for a company to have all the information collected displayed in a clear and objective way, giving a general view of each process within the organization so that the multiple scenarios can be evaluated and adapted, which helps in planning future steps.
Reports were developed so that companies would have all their data gathered in a simple and practical functional way. In these documents, all essential information can be found, and anyone in the organization can see the positive and negative results, making the communication flow efficient and, consequently, the decision-making easier.
Would you like to know more how reports could be useful in achieving better results in your company? Keep reading.
Reading recommendation: Top Trends of Artificial Intelligence for 2021.
Types of reports
It is possible to create a wide variety of reports, as long as the purpose is well-defined. Learn the most common types:
- Financial Reports: These are the reports that control the finances of a company, and are considered the most important between all type. In their absence, it would be impossible to estimate how much an organization can spend on certain areas, and this could cause serious financial trouble if they are inaccurate.
- Satisfaction Reports: Through questionnaires made with customers or collaborators the satisfaction reports are developed. This type of report is important because they are able to measure customer or employee satisfaction with the services provided or products offered.
- Analysis Report: They are usually more complete because they present data, information and conclusions about the completed results. They are also directly related to productivity reports, as both use data to draw conclusions.
Reports are considered to be the greatest tool that managers and employees could use to gain an in-depth view of each process and sector, at the same time, exposing the company’s health. Some other benefits of generating reports for your company are:
- Assistance in fault detection;
- More accurate and objective decision-making;
- Performance monitoring;
- Up-to-date information on all sectors of the company;
- Identification of opportunities;
- Monitoring or creating new strategies.
A complete analysis allows problems to be detected quicker, so that the organization is able to solve them within an appropriate time or analyze if it would be necessary to adopt other measures.
A great example of a good use of reports through data was the Projeto Oxygen, developed by a Google research team. Through data analysis, they were able to conclude that teams with good managers demonstrate a significant improvement in the productivity and satisfaction of employees within the organization.
Reading Recommendation: Strategies and tools for the satisfaction at work.
We have already concluded that reports are of paramount importance for the smooth and successful running of a business. However, technology can help many companies that are still struggling to positively implement reports in the business environment.
By automating processes, all company data is stored in an integrated management system, making report creation and development uncomplicated and functional.
Alana is a solution that uses artificial intelligence to automatize all the processes, from the collection of data until the generation of elaborated reports, with Alana Report. It will produce descriptive and predictive analyses, with specific recommendations about the next steps to be taken in the business. Moreover, the tool is fully integrated, so the skills work together to deliver the best result.
Would you like to know more about how Alana can help the fruitful development of your company? Book a demo right now and learn the different skill this superb tool has.