Review these key points on the internal and external data available when constructing a business report to better understand the concepts covered in this piece. These data can also be split into qualitative (description, non-numeric, usually require context) and quantitative (numeric, measure); both are useful. Primary research is research one has done by oneself. Secondary research is research based on other people's primary research. Be sure to do the practice questions to solidify your understanding.
Figure 1 shows frequency data – the amount of something over a given period of time.
Figure 1. Comparison of word usage from 1600 to 2018
Various types of data are very useful for business reports, and in business reports, you will quickly come across things like revenue (money earned in a given period, usually a year), turnover (people who left the organization in a given period), and many others.
There are a variety of data available when one is constructing a business report. We may categorize data in the following manner:
Internal and external business or organizational data come in two main categories: qualitative and quantitative.
Both types of data are useful for business report writing. Usually a report will feature as much "hard" quantitative data as possible, typically in the form of earnings or revenue, headcount, and other numerical data available. Most organizations keep a variety of internal quantitative data. Qualitative data, such as stories, case studies, or narratives about processes or events, are also very useful, and provide context. We may consider that a good report will have both types of data, and a good report writer will use both types of data to build a picture of information for their readers.
A common report required of all publicly traded companies is the 10-K. This is an annual report that all public companies in the US have to file with the US Securities and Exchange Commission (SEC). For example, you can take a look at Apple's 10-K form.
Figure 2 shows Apple's 10-K's table of contents, and illustrates common types of data used. Note how much of it is quantitative based (Item 6 for example,) however other data, such as leadership biographies (Item 10), also provides context.
Figure 2. Apple's 10-K
Source: Freedom Learning Group, https://courses.lumenlearning.com/wm-businesscommunicationmgrs/chapter/types-of-data-sources/
This work is licensed under a Creative Commons Attribution 4.0 License.