Reports: Why are They Important?

Reports are useful for many reasons but first what is a report? A report is a detailed description of an observation. (Report, 2008) With this being said why they are so important and who are reports important to?

There are many different occupations that find reports to be extremely helpful, professions such as those relying on sales. Investors, Sales Representatives, Real Estate brokers, pretty much anyone who relies on consumers to buy their product or service find reports to be very helpful. Depending on what level is using the reports will determine which reports are needed.

For example in the beginning on the higher level, the level determining the services or products that will be sold will research and conduct reports dealing with the economy and market trends. This will not only give them a better understanding of their industries market but can also be helpful to keeping one from making expensive errors, such as investing in a product or service which is unpopular to the current market and is undesirable or not needed by the target consumer. (Marriot, 2008)

Some of the reports used by this level of sales are reports dealing with market trends, consumer reports, demographics of target area, as well as in-depth financial reports and credit reports of the company and or investors. These reports are helpful for a company, investor or entrepreneur because it gives them a better perspective of the current market, consumers, competitors, the trends and needs of the chosen industry and are extremely useful when constructing the business plan to get the idea off the ground. (Marriot, 2008)

Financial institutions also use these same reports before signing off a small business loan or in that matter any kind of loan. Just as a company owner would like to see their ideas flourish into a “money-making” business, banks and such need to ensure that they will be getting their money back with interest.

On a lower level or the level of maintain the operation of a business, they use reports such as Budget Summary, Sales activity, operation cost and individual employee reports. Companies do this to rate how their individual departments are doing. These reports are usually developed so that corporate can keep track of the progress of each branch or department.

Other reports from this level are gathered by research from the direct source such as consumer surveys. These surveys are then either conducted on the phone, the form of a letter or electronically. This form of research can also be recorded from customer service representatives who can log events such as; disputes, praises and other customer responses. Eventually corporate can spot trends and patterns of their own individual products and or services; pinpointing their successes and any area that may need more attention or even the elimination or change of their product or service.

Some professions often collectively combine their reports for the purpose of proving a point or a case; professions such as Police, Medical Examiners, Psychologist, and District Attorney’s. These departments and specialist all work together by providing various reports of a case to prove facts of the crime to each other.

Generally, the police are usually notified where they will first fill out a police report, then a report of their findings; witness statements, physical evidence, interviewing suspects, victims and witness. If the medical examiner is involved they may have to develop reports such as an autopsy report, blood test, toxicity screen, urine sample, rape kit along with many other needed tests in the form of reports. The psychologist may have to screen victims or the actual suspect to see whether or not they are mentally capable of standing trial or even the subjects grasps of reality; these findings will also be submitted in a form of a report. All these facts and points will be presented in the form of reports as evidence to the District Attorney. The District Attorney will then use the collaborated reports and findings to prove their case in the court of law. If for some reason a report wasn’t submitted or wasn’t recorded it can make holes in the case and therefore the case can be thrown-out or even worse the wrong person can be prosecuted. (The anatomy of a criminal case, 2008)

Of course there are many other careers that use other reports for purposes not mentioned, but that are just as important to their individual industry. Reports provide detailed information about a subject of interest, so one can make an informative decision as well as gain a better understanding of the topic of interest.