11 Types of Reports Flashcards
What are the main categories of reports covered in the exam?
Static and dynamic reports, ad hoc and research reports, self-service reports, recurring reports
These categories encompass the types of reports a data analyst may encounter in their career.
What is the difference between static and dynamic reports?
Static reports are fixed and do not update automatically, while dynamic reports have a live connection to data and update in real-time
Static reports are sometimes called point-in-time reports, and dynamic reports are sometimes referred to as real-time reports.
What are the characteristics of point-in-time reports?
They provide a snapshot of data at a specific moment and do not update automatically
Point-in-time reports can be compared over time to analyze changes.
What are the pros of static reporting?
- Can use more in-depth and complicated analyses
- Can answer more complex questions
- Can pre-empt follow-up questions
- Can be generated faster
Static reports are beneficial for detailed analyses and answering complex inquiries.
What are the cons of static reporting?
- Data is a fixed point and not up to date
- Often needs to be generated multiple times
Static reports can become outdated quickly if the data changes frequently.
What are the pros of dynamic reporting?
- Data is always as up to date as possible
- Often saves time in the long run
Dynamic reporting is useful for scenarios where real-time data is critical.
What are the cons of dynamic reporting?
- Limited to relatively simple analyses
- Limited to answering relatively simple questions
- Can take a long time to set up
Dynamic reports may not provide the depth needed for complex decision-making.
When is dynamic reporting preferred over static reporting?
When having the most recent data is more important than detailed analyses
This is particularly true in fast-paced environments like stock trading.
What is an ad hoc report?
A short, quick report that answers a simple question
Ad hoc reports are typically static and have a short turnaround time.
What distinguishes research reports from ad hoc reports?
Research reports are large, in-depth, and answer complex business questions, while ad hoc reports are short and answer simple questions
Research reports often require extensive data analysis.
What are self-service reports?
Reports that allow non-data specialists to access and analyze data independently
Dashboards are a common form of self-service reports.
What is the main advantage of self-service reports?
They enable users to answer their own questions without needing to consult a data analyst
This is especially useful in roles where quick access to data is critical.
What are recurring reports?
Reports that are generated at regular intervals
These reports can vary in complexity and are often static.
What are the three common categories of recurring reports?
- Compliance reports
- Risk and regulatory reports
- Operational reports (KPI reports)
These reports are essential for ongoing monitoring and decision-making.
What are the three common categories of recurring reports?
- Compliance reports
- Risk and regulatory reports
- Operational reports (KPI reports)
These reports are all considered recurring reports.
What is the primary purpose of compliance reports?
To ensure compliance with a set of regulations.
What levels can regulations come from?
- Internal
- Third-party
- Industrial
- Governmental
What are internal regulations?
Requirements set up by the company itself.
What are third-party regulations?
Optional requirements imposed by another company for certification.
What are industrial regulations?
General rules and requirements specific to an industry.
What are governmental regulations?
The strictest set of rules that must be followed.
What is the focus of risk and regulatory reports?
Identifying risks of regulations changing and their potential impact.
How often are operational reports typically generated?
Quarterly.
What do operational reports primarily focus on?
Key Performance Indicators (KPIs).
