To succeed, businesses must utilize a comparison of data reports, which help make data-driven decisions, and they have to understand what’s working, what isn’t, and why.
Comparison of data reports
There are several types of data reports your business can use. As we mentioned in this article (link to overview article) two most common types are static and interactive/dynamic reports.
Static reporting can be set up to generate reports on the same information parameters hourly, weekly, monthly, quarterly—whatever duration you choose.
Interactive reports, also called dynamic reports, allow you to work with real-time data to understand what is currently happening.
But let’s dig a little bit deeper in our comparison of data reports. What are subtypes of both static and interactive data reports that businesses implement regularly?
Different types of data reports:
Regular reports:
Regular reports are scheduled at regular intervals and include the same types of information each time. You can set these to be created and sent out whenever you choose. In these reports, the information parameters included do not change.
Ad-hoc reports:
Whenever someone requests a spontaneous report, this is considered an ad-hoc report. For example, let’s say you have a meeting coming up and want to report on the marketing results of the last two weeks. You can create a custom report based on your chosen parameters.
Real-time reports:
Real-time reports are constantly getting new data in current time to generate new information. This creates accurate, up-to-date information that can be extremely helpful in situations where you need to know every update.
Descriptive reports:
Descriptive reports include key points and conclusions based on the data being reported. It’s like a virtual secretary with its added notes.
Prescriptive reports:
The data doctor is in! Prescriptive reports give you a thorough data analysis along with providing tips on what could be done to improve results.
Predictive reports:
Have you ever wanted a crystal ball to see how you can predict performance outcomes? Newsflash: You don’t need to add a fortune teller to your marketing team. Predictive reports use your business’s historical data to predict future performance. Utilize past data to help plan for the future!
Each type of data report serves a distinct and valuable purpose, enabling businesses to make informed, data-driven decisions at every stage of their operations. Regular reports ensure that businesses have consistent, predictable insights at set intervals, making it easier to track ongoing performance and spot long-term trends. Ad-hoc reports, on the other hand, are designed for flexibility, providing custom insights when specific questions or needs arise, whether for meetings or sudden decision-making.
Real-time reports offer immediate access to current data, empowering teams to react swiftly to dynamic situations with the most up-to-date information available. Descriptive reports go a step further by not only presenting the data but also highlighting key points and offering interpretations, helping decision-makers grasp the story behind the numbers.
Prescriptive reports add even more value by combining data analysis with actionable recommendations, guiding businesses on how to optimize results or solve challenges. Lastly, predictive reports leverage historical data to forecast future outcomes, providing businesses with foresight to plan and prepare for what lies ahead.
Together, these reports form a comprehensive toolkit, helping businesses navigate complex data landscapes, make timely decisions, and drive continuous improvement across all functions.
Ready to discover how Popdock creates data reports?
Data reports can substantially help your business understand what’s working and what isn’t. The various types of data reports support data-driven decision-making, improve insights among teams, and help your business maximize sales, marketing, customer service efforts, and the overall success of your business.
We hope this comparison of data reports has been helpful as you choose which reports best suit your current needs.
To learn how Popdock, eOne’s data automation software and virtual integration platform, can help your team maximize efficiency, accuracy, data reporting, and more, contact our sales team at sales@eonesolutions.com or 888-319-3663 ext. 1.
