There is too much writing in college. Some assignments are easier than others are, and the student has to work hard to make good grades in each one of them. Some of the papers a student is likely to face in college are essays, term papers, research papers, dissertations, theses, analytical reports and so on. Most students are familiar with most of these papers, but it does not mean they know how to write all of them. College gives them a decent experience when it comes to writing these papers and the student has only this chance to learn and hone his writing skills, especially when it comes to analytical reports.
The details most of the papers a student write in college are different. Some are very specific whereas others are general. Since some of these papers have their own target audience, it is likely that some students will find it had to write them, and as such, the need to have relevant writing help. Even though analytical reports are not common assignments, the student needs to be ready to write them. Most importantly, they are supposed to know
The definition of analytical reports
All analytical reports are written to provide an understanding of a problem and how it is going to be fixed. These reports are a hybrid of proposals and informational reports. The major goal of analytical reports transcends the identification and analysis of the problem to encompass the provision of a solution using recommendations that anchor on evidence solving a problem where other past attempts did not make any headway.
With regard to industry analysis reports, it gives an evaluation of a specific industry and the companies that are involved in it. The provision of industry analysis must establish how a company is going to gain an advantage in the industry through the understanding of the history of the same industry, trends, competitors, products, and customer bases. Bankers, investors and customers all get an understanding of the make-up of the industry. When it comes to the writing process of analytical reports, you have to engage in in-depth research to establish the organisational framework for the entire reports. You can also use a few analytical reports examples to see how it is done.
Importance of analytical reports in the e-commerce industry
If you want to achieve success in the e-commerce industry, you have to understand your retail customers and provide the requisite experience and the right time to create long-lasting bonds. This demands you to access statistical information from every area of online marketing as well as marketing sales and activities because it will give you an upper hand over our competitors. If you have analytical reports, you are way ahead since you possess information that concerns your site, your visitors and their origin. This information is crucial in finding new customers and increasing the rates of conversion. The importance of analytical reports includes the following:
- Selling history
When it comes to e-commerce, you will have the advantage to save your data and download it from the start. Your data must be analyzed in a way that restrains the offline accessibility of the business. If you have analytical reports, you can separate your audience based on gender, a location that the most demand for the product, age group and the extended group that is buying your products. You get a chance to plan your marketing strategy is knowing the group you are going to target as well as the location with most buyers as you prioritize shipping options for that specific location.
- Analysis of the conversion ratio
If you have analytical reports, you can understand the rate of conversion. It is a little bit difficult to track the number of customers who have seen your shop while it is offline.
- Track marketing channel reports
There are different ways you can follow and get new customers and share the product page on various social media platforms. This will give you the statistical reports that have information concerning the unique views, visitors, and clicks. It enables you to see the post with a maximum number of visitors.
Now you see how analytical reportsaffects-commerce, especially in this age where information is everywhere. Everyone is connecting on the internet through various platforms that have necessary data for a specific industry. However, one still needs to know how you can write analytical reports,which is why we are delving into it next.
The process of writing the analysis reports
When faced with this assignment, you need to know where to start and where to end. Some people may find it hard especially because it is not a so common assignment and as such, they may need guidance. Lucky for you, this is how you write analytical reports.
Identify the sources of your research
Since this is a serious paper, you have to identify where you are going to derive your information,and this is how you do it:
- Define the scope of your analysis
When you want to write analytical reports, you have the option of analyzing the entire industry or a specific segment of the same. Here, you can target the specific subset within the market. You also have a choice to look a cross-industry. For instance, game developers might need to compile statistics on the online gaming market, PC , and handheld gaming market. This is why it is important to know the scope of your analysis.
- The industry research will be better if you can use independent government agencies
Government databases have volumes of information that concern the statistical details of different economic industries. For instance, you can use Economic Indicators.gov, FedStats.gov and a host of other credible government websites that have useful information and analytical reports that anchors on where you are. As such, it is important to consult the government or federal agencies o better still, use keywords as you search on the internet.
- Compile and make use of independent research
You have to consult at least two independent research reports that contain data pertaining your market. Industry interest groups or independent research reports will have published a research report or market analysis that is tandem with your research. You can also get information from experts within your company, but their views may be biased. As such, you should have a good judgment on the kind of information you use.
- It is good if you look at the association data
If you want to write competent analytical reports, you can consider using the association data. The industry is laden with too many associations and publications. These can be good sources of information for you analytical reports.
- Make use of academic research
With analytical reports, you can use various academic researches that have the necessary information. You have to go for that information that is in line with whatever you are analyzing. In other words, the information you find in these academic researches must be in line with your analytical reports topic. You can use Google Scholar or Encyclopedia of Emerging Industries.
- Every source you get must provide relevant information for your analytical reports
Any information that you have in these sources about annual avenues in the industry, the number of companies involved as well as the statistics of the workforce is the kind of information you need from these sources. You can also try to pinpoint the statistics that e about the size of the customer base and the purchasing trends. If you want to make sure that, you have the accurate data cross-check it with other sources. This will make your analytical reportsmore credible and original.
Analytical reports framework
When it comes to analytical reports framework, this is what you need to achieve in the writing process:
- Demonstrating that there is an adequate market for your business proposal
One way to achieve this is to know the size of the relevant market as well as the company’s potential sales if it captures the market. As such, you have to carefully analyse the underlying assumptions, which are the anchor of your market analysis. Thisis crucial for a new product that is undergoing rapid acceptance by the consumers.
- Consider the trends within the industry
If you want to write effective analytical reports, you have to ask important questions that will help you to consider the trends within the industry through the present. The influences of globalisation are hard to ignore as well as technological innovations. This adds up to the more obvious factors like competitions and the preferences of customers. You also have to consider the economic state at the local, national, and global levels. Take into account the changes in the market in the last one-year or the past decade. Think about the intended growth of the relevant market and the demographics affecting the market.
- Considerthe challenges to entry or expansion
Challenges or barriers can include competition within the market or the lack of finances or talent. It can also be about restrictive regulations and patents.
- Describe the major competition in the industry
When writing your analytical reports, you need to describe your major competitors. Feel free to use the statistical information that concerns the revenues, the strengths of the workforce and product in details. You can show their previous business moves, products in the pipeline as wel as their marketing strategies. Feel free to incorporate sourcing, manufacturing, and regulatory analysis. You have to make sure that the company analysis is fully complete.
- Place your company within the industry
In your analytical reports, you need to show where your company fits within the industry. Use the framework you have established with information about the competition, barriers of expansion or implementation, trends in the industry and the availability of consumer attention. You then introduce the position of your company within the larger picture of the industry as you compare it with other companies. You can include statistical information that regards your business and maintains honesty about all the advantages and disadvantages that you face.
Writing your analytical report
This is how you write youranalytical reports:
- Begin with a broad description of the industry
You can begin your analytical reports with a paragraph about the history of the industry. Have one or two paragraphs that tell about the products, geographic scope of the industry as well as the manufacturing consumers. Introduce your company and its position within the industry. Give a foreground of the industry trends and how they make the implementation of the proposal desirable. Feel free to determine the lifecycle stage in which your industry is positioned. It can be emerging, growing, shaking out, maturing or declining.
- Provide market analysis
As you write your analytical reports, you need to indicate the expected growth in the industry, technological developments, products, and factors that influence the competition. You have to describe the general landscape.
- Describe the outlook of the customer and their demographic data
Describe major consumer groups and their respective unique properties. You can give their age, ethnicity, race, coupled with their needs and wants. See it from the perspective of the customers to understand what they experience when they first hear about your products.
- The analysis report ought to give your strategy for the near future
When writing your analytical reports,you must have specific goals shortly that fall within a specific timeline. Talk about marketing strategies. Product development ideas, workforce issues and so on and how they contribute to the potential growth of the company within the industry.
- Make recommendations
Your analytical reports must have recommendations of solutions to the problems being investigated and are supposed to include the most effective and successful ones to fix those problems.
- Edit your reports
After you have finished the writing process, edit our analytical reports to a manageable size. Ensure it is in line with all the requirements.