Business reports are a staple of the modern workplace. They provide insight into the performance of your business, help you make informed decisions, and track progress.
But what is a business report? And how can you make one in Excel? Read on to learn how to make various types of business reports in Excel.
A business report is a formal document that analyzes a business activity. It conveys information to various audiences, including executives, managers, and investors.
Furthermore, business reports help us make decisions about a business’s future. For example, it can include an analysis of a marketing campaign’s financial performance or effectiveness.
Below is an example of a business report generated from the data shown.
Income Sources | Income | Spending Sources | Spending | Amount |
Distributions | Income | Taxes | Federal | 991936 |
Distributions | Income | Taxes | State | 295067 |
Distributions | Income | Savings | Stock | 1932447 |
Distributions | Income | Savings | Bonds | 263979 |
Distributions | Income | Savings | Cash | 689532 |
Salaries | Income | Food & Dining | 24448 | |
Salaries | Income | Office | 9409 | |
Salaries | Income | Travel | 8481 | |
SEP IRA | Income | Fitness | 4694 | |
Dividends | Income | Health Insurance | 3410 | |
Dividends | Income | Shopping | 5329 | |
Interest | Income | Bills & Utilities | 4918 | |
Interest | Income | Other Expenses | 7665 |
Insights
This Sankey Diagram clearly illustrates the business’s financial state, showing income as $4.24M and savings as $2.89M. Out of the savings, $1.93M is invested in stocks, $264k in bonds, and $690k in cash.
Business reports can provide a detailed analysis of a company’s performance. From this analysis, you can make decisions about future strategies.
Companies use business reports to communicate information to shareholders, creditors, lenders, and other stakeholders. Companies can also use them to communicate performance to the public and government agencies.
Companies can use information relayed in business reports to recommend actions to help achieve specific objectives. Also, you can use business reports to recommend strategies and policies that will help a company remain competitive.
Business reports can be used to interpret and explain data. They can provide insight into the performance of the business and identify trends and patterns.
You can use business reports to control operations. You can use them to monitor and manage the performance of the business and ensure smooth operations.
Business reports can provide stakeholders with an overview of the performance of the business. Companies can demonstrate how they’re meeting their goals and show shareholders that their investments are in good hands.
Business reports can provide insight into the performance of the business and identify areas of improvement.
Business reports have a structured format with a clear purpose and intended audience. Let’s take a look at the characteristics of a business report.
A business report should have no errors. This is essential so that the reader can trust and rely on it.
You should write the report in an easy-to-understand language. To enable the reader to comprehend the report quickly.
Business reports should rely on data to provide accurate and relevant information. This data should be gathered from reliable sources and be up-to-date.
The information in the report should be reliable and trustworthy. It helps ensure that the report is used for its intended purpose.
A business report should be objective and free from bias to ensure that the report is fair.
A business report should be concise and to the point. It makes it easier for the reader to understand and digest the information in the report.
Business reports should be comprehensive and cover all the relevant information. It ensures the reader has all the information they need to make informed decisions.
There are several business reports, each with its purpose and characteristics.
Analytical reports are used to analyze data and identify trends. They are used to evaluate current strategies, develop new ones and track progress. We can also use them to identify potential risks, problems, and opportunities we can exploit.
Analytical reports are comprehensive, providing a thorough analysis of the data. They include graphs, tables, and charts to make the data easier to understand and interpret.
Explanatory reports are used to explain the results of an analysis. They communicate the findings of a study and explain any changes in strategy or policies.
These reports can also provide recommendations for improving performance or addressing potential problems. Also, they can help a company determine its financial performance and position in the market.
Informational reports are used to provide information to stakeholders. They can communicate performance to stakeholders, the public, and government agencies. Furthermore, you can use informational reports to present a company’s performance in a positive light.
They are essential for public relations, as they can demonstrate a company’s commitment to transparency and accountability.
Research reports are used to provide information about specific topics. We can use them to explore a company’s position in the market and identify potential risks, problems, and opportunities we can exploit.
They are essential when a company is planning to explore new markets. Furthermore, they are more detailed and comprehensive than other business reports.
Excel is a wonderful tool and used by billions of people worldwide. It is an amazing tool to handle your data and make reports. But this tool is becomes harder for the stakeholders to see the reports in the form of data tables.
Even it allows to create visualization but still this tool by default is short of awesome visualizations. To get the stunning and presentable visualizations you can install a third party add-in and enhance the feature of this tool.
Using the quarterly 2022 earnings information of Apple Company, let’s create a graphical presentation of the flow of funds.
Products | Devices revenue | Revenue | Profit & Cost | Profit & Sources | Operations | Outflows | Amount |
iPhone | Devices revenue | Revenue | Devices gross profit | Gross profit | Operating profit | Net profit | 19.4 |
iPhone | Devices revenue | Revenue | Devices gross profit | Gross profit | Operating profit | Tax | 3.7 |
iPhone | Devices revenue | Revenue | Services gross profit | Gross profit | Operating expenses | R&D | 6.8 |
iPhone | Devices revenue | Revenue | Services gross profit | Gross profit | Operating expenses | Selling general & admin | 6 |
iPhone | Devices revenue | Revenue | Cost of Revenue | Services | 4.8 | ||
iMac | Devices revenue | Revenue | Cost of Revenue | Services | 0.8 | ||
iMac | Devices revenue | Revenue | Cost of Revenue | Devices | 6.6 | ||
iPad | Devices revenue | Revenue | Cost of Revenue | Devices | 7.2 | ||
Watch | Devices revenue | Revenue | Cost of Revenue | Devices | 8.1 | ||
Apple Pay | Revenue | Cost of Revenue | Devices | 19.6 |
i. Upon installing the ChartExpo add-in, locate the Insert menu on Excel, then click on “My Apps”.
ii. A new window will appear in which ChartExpo will be available. You can select it and click on Insert.
iii. Once the ChartExpo add-in has loaded, a list of charts will appear from which you will click the “Sankey Chart”, as this chart is best suited to display the provided data.
iv. Select the data from the sheet, then click “Create Chart From Selection.”
v. It will generate the image below.
vi. If you wish, you can remove the percentages by clicking on the “Edit Chart.” Then click on the highlighted pencil icon, go to “Percentage,” then disable “Show Percentage.”
vii. To add color to the nodes, click the pencil icon at the top of the specific node then click “Node.” Add your desired color and make some changes in other properties, such as adding the heading, then click “Save Changes.”
viii. Below is the customized chart showing the flow of finance from one end to another.
Insights
Apple’s primary income source is from the sale of consumer electronics. Especially the iPhone, which is nearly half of its total earnings from the total revenue of $83.4bn. The iPhones are highly sought after in the United States. They compose around 50 percent of smartphone sales throughout the nation.
Google Sheets is also liked by plethora of people. No doubt, this tool is amazing to handle data and provide visualization but still you will not find such amazing visualization which sometimes specially meet the requirement of data to be displayed properly.
For this purpose ChartExpo extension is needed to be installed in Google Sheets. Once it is installed you can access all the charts available in this library and create your stunning business reports.
Let’s use the data below to create an analytical report to analyze the performance of your digital campaign. You want to analyze the data how clicks on the advertisement are doing as compared to previous and current month.
Period | State | Clicks |
Previous | Chicago, Illinois, US | 14 |
Previous | Dallas, Texas, US | 7 |
Previous | Houston, Texas, US | 12 |
Previous | Austin, Texas, US | 14 |
Previous | Albany, New York, US | 31 |
Previous | Trenton, New Jersey, US | 24 |
Previous | Newark, New Jersey, US | 22 |
Previous | Helena, Montana, US | 8 |
Previous | San Antonio, Texas, US | 7 |
Current | Chicago, Illinois, US | 21 |
Current | Dallas, Texas, US | 27 |
Current | Houston, Texas, US | 30 |
Current | Austin, Texas, US | 69 |
Current | Albany, New York, US | 21 |
Current | Trenton, New Jersey, US | 34 |
Current | Newark, New Jersey, US | 21 |
Current | Helena, Montana, US | 21 |
Current | San Antonio, Texas, US | 28 |
You can edit the properties of this chart and put headings on top of the chart or make other changes according to your need. Eventually you can have the final look as shown below:
Insights
Clicks from customers in Albany have decreased in comparison to the past. The highest-achieving spot right now is in Austin, Texas, but Newark, New Jersey, has the poorest performance.
Creating a business report in Excel and Google Sheets requires planning and attention to detail. Here are some tips for writing an effective business report in Excel:
There are several types of business reports used for different purposes. They include; analytical reports, explanatory reports, informational reports, and research reports.
A business report communicates critical information and data to business owners, decision-makers, and other stakeholders. It provides an overview of the current status of a business, its objectives, strategies, and performance metrics.
Business reports are an essential tool in the modern workplace. They provide insight into the performance of your business, help you make informed decisions, and track progress. Creating various types of business reports in Excel and Google Sheets is a great way to analyze data, communicate information, and recommend actions.
Creating a business report in Excel & Google Sheets is relatively straightforward. First, gather relevant data and input it into the spreadsheet.
Then, use the various features of tools to create charts and graphs to visualize the data. Finally, you can use formulas and filters to analyze the data and draw meaningful conclusions.
With ChartExpo, you can create the best business report in Excel and Google Sheets. It is an add-in that provides a simple dashboard to manage, analyze, and visualize data.
You can create charts and graphs with minimal effort. This way, you can transform your business report into something more engaging, educational, and impactful.
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