State different types of reports with their application.How business report helps any organization?
1Different Types of Reports with Their Applications
1. Operational Reports
Meaning: Daily or routine reports used by operational staff.
Application: Track daily sales, employee attendance, inventory levels.
2. Tactical Reports
Meaning: Focus on mid-level management decisions.
Application: Monthly performance reports, budget vs. actual analysis.
3. Strategic Reports
Meaning: High-level summary reports for top management.
Application: Annual business performance, market growth analysis.
4. Ad-hoc Reports
Meaning: Created on the spot for a specific query or analysis.
Application: Report of sales in a particular city during a festival.
5. Analytical Reports
Meaning: Use data analysis to provide insights and trends.
Application: Customer buying behavior, trend forecasting.
6. Dashboard Reports
Meaning: Visual reports showing real-time KPIs.
Application: Business dashboards for live monitoring of sales or traffic.
7. Exception Reports
Meaning: Highlight data that falls outside expected range.
Application: Alert if expenses exceed budget, or sales fall below target.
8. Regulatory/Compliance Reports
Meaning: Reports submitted to meet legal or government requirements.
Application: Tax filings, environmental compliance reports.
9. Financial Reports
Meaning: Reports related to financial performance.
Application: Income statement, balance sheet, profit & loss report.
10. Summary Reports
Meaning: Provide an overview by summarizing detailed data.
Application: Quarterly sales summary, employee performance overview.
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