Academic Writing Complete Guide
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Good Academic Scholarship
Exam preparation and Techniques
How to Write an Analytical Report
These reports are prepared to help create an understanding of a problem as well as fixing it. Analytical reports are a hybrid of informational reports and proposals. The major goal of the analytical report goes beyond identifying and analyzing a problem to the provision of a solution using recommendations that hinge on evidence solving a problem where other past attempts could not manage.
When it comes to an industry analysis report, it provides an evaluation of a specific industry and the companies that are involved in it. With an industry analysis, the report must establish how a company can gain an advantage in the industry by understanding the history of the industry, competitors, trends products, and customer bases. Investors, bankers, and customers get an understanding the make-up of an industry. When writing analytical reports, it is important you conduct in-depth research to establish the organizational framework of your report.
Importance of analytical reports in the e-commerce industry
To achieve success in e-commerce, you must understand your retail customers and provide the right experience at the right moment to create an unbreakable bond. As such if you have access to statistical information from every area if online marketing and sales activities, you have the upper hand over your competitors. Analytical reports come with a wealth of information concerning your site, your visitors and their origin this information is essential in finding new customers and increasing conversion rates
- Selling history
- Analysis of the conversion ratio
With e-commerce, you will have the advantage to save your data and download it from the onset. You have to analyze the data in a manner that restrains the offline accessibility of your business. With an analytical report, you are able to separate your audience based on gender, the age group, and the location with the most demand for the product and the extended group that is purchasing your products. This helps you to plan your marketing activity knowing which group to target and the location with most buyers to prioritize shipping options for that location.
- Analysis of the conversion ratio
With an analytical report, you are able to understand the rate of conversion. It is difficult to track the number of buyers who have seen your shop if it's offline.
- Track marketing channel reports
There are different ways to follow and get new buyers and share product page o different social media platforms this will provide you with statistical reports that have information about unique views, visitors, and clicks. You are able to see which post has maximum visitors.
How Writing your analysis report
Identify the sources of your research
- Define the scope of your analysis
You have the option of analyzing the entire industry or a segment of the same targeting specific subset of the general market. Your research can also entail looking at cross-industry. For instance, a game developer might need to compile statistics on the console gaming market, PC gaming market and handheld gaming market.
- Your industry research becomes better if you use independent government agencies
There are volumes of information in government databases that concern statistical details of different economic sectors. For instance, you can use FedStats.gov, EconomicIndicators.gov and a host of other government sites which have useful statistics and reports based on where you are, it is important to consult the government and federal agencies or use keywords for your internet search.
- Use and compile independent research
Consult at least two independent research reports that contain data on your market. Industry interest groups or independent research reports can provide a published research report or market analysis that is in line with your research. Experts within your company can provide useful information too. However, their views may be biased or unreliable.
- Consider looking at the association data
There are many trade associations and industry publications within your industry. Identify the information that you can use to provide the necessary background to your analysis.
- Use academic research
There are different academic sources that can provide the necessary information for your analytical report. Check them to get the necessary information that aligns with your topic. For instance, you can use the Encyclopedia of Emerging Industries or Google Scholar.
- All of these sources should provide relevant data for your report
Every information that you have from these sources regarding annual revenues in the industry, the number of companies involved, the statistics of the workforce and so on. You can also identify the statistics that touch on the magnitude of the customer base and purchasing trends. To make sure that the data you have is accurate, crosscheck your data with other sources.
Analytical report framework
- Demonstrate that there is enough market for your business proposal
To do this, you have to know the magnitude of the relevant market, which is the company’s potential sales if it captures its entire market niche. Ensure that you have carefully analyzed the underlying assumptions, which are the basis of your market analysis. This essential for a new product undergoing rapid acceptance.
- Consider the trends within the industry
You have to ask crucial questions that will help you in considering trends in the industry through the present. The impacts of globalization cannot be ignored as well as technological innovations. This adds up to the more obvious factors like competition from other companies and preferences of the consumers. Take into account, the economic state at the global, national, and local levels. Consider the changes in the market in the past 12 months or the past ten years. Consider the expected growth of the relevant market as well as demographics affecting the market.
- Consider the barriers to entry or expansion
Barriers include the competition within the market but can also be the lack of money or talent or even restrictive regulations and patents.
- Describe the major competitors in the industry
Here, you can use statistical information concerning the revenues, the strengths of the workforce and products in detail. Show their previous business moves, products in the pipeline and their marketing strategies. You can include sourcing, manufacturing, and regulatory analysis. The company analysis needs to be fully complete.
- Place your company within the industry
You can use the framework you have established with information about the competition, barriers to expansion or implementation, trends in the industry and the availability of consumer attention. Introduce the position of your company within the larger industry and compare it with other companies. It is important to include the statistical information pertaining to your business and maintain honesty about all the merits and demerits that you face.
Writing the analysis
- Begin by broadly describing the industry
You can start with a paragraph about the history of the industry. Write a paragraph or two Detailing the six of the products, the geographic scope of the industry as well as the manufacturing and consumer centers. The next step is to introduce your own company and its potion within the industry context. Include a foreground of the industry trends and how they make the implementation of your proposal desirable. You can also determine the lifecycle stage in which your industry is positioned. It can be emerging, growing, shaking out, maturing, or declining.
- Provide a market analysis
Indicate the expected growth in the industry, developments in technology, products, and factors affecting competition. Give a general description of the landscape.
- Describe the outlook of the customer and their demographic information
You have to describe the major customer groups and their respective unique properties. Give the age of your customer, their ethnicity, and race, couples with their needs and wants. Think and see it fro the prism of the customers and see what they experience when they first hear about your product or service.
You also have to consider your existing clientele base and how to expand your product, or service targeting to attract new customers.
- Let your analysis report give you a strategy for the near future
Provide a detailed strategy that you will use to achieve your goals in the near future. There should be specific goals that fall within a particular timeline that is detailed. This should include revenues and market share that you intend to achieve. Talk about the marketing strategies, product development ideas, workforce issues that have to portend the growth of your company within the industry.
You can choose a call to action and a subsequent sketch of your proposal to act as a smooth transition into the rest of the plan.
- Making recommendations
An analytical report must build towards recommending solutions to the problems under investigation. The recommendations to include are the most effective and successful to fix the problem at hand.
- Edit your report
Make your report fit within a manageable size. An analytical report can run between two to three pages, and its length is premised on the presentation that you will use. If it is part of your business plan, then it should be short and straightforward. If it is an independent report, you have the freedom to devote as much space as possible to raw data and detailed descriptions.