What is the best way to determine which reports should be created for a business?

Gathering input from multiple stakeholders is the most effective way to determine which reports should be created for a business. Different stakeholders, such as management, finance, sales, and operations, will have unique perspectives and needs regarding the data that is essential for their functions. By soliciting their input, you can ensure that the reports generated are relevant and useful across the organization, addressing specific questions and objectives that different teams might have.

This collaborative approach also fosters a sense of ownership and ensures that the reports align with the strategic goals of the organization. It minimizes the risk of overlooking vital information that may be necessary for decision-making, thereby creating a more comprehensive reporting suite that supports various aspects of the business effectively.

In contrast, analyzing past report trends may yield insights into what has been useful, but it might not necessarily capture the evolving needs of the business. Focusing solely on the most common reports used may overlook less frequent but equally important metrics that could provide essential insights. Adhering strictly to industry standards without adjustments can lead to generic reports that do not cater to the specific requirements of the business, potentially failing to deliver actionable insights tailored to its unique context.