For decades, traditional written reports have been used by businesses to analyze their performance. However, with the volume of data generated each day today, frequent reporting has become the need of the hour. By 2025, 463 exabytes of data are expected to be generated globally each day.
Companies produce written reports on a monthly, quarterly, or annual basis, but they typically lack the degree of information that marketers need to thrive and remain ahead of their competitors. Here, it becomes imperative to maintain weekly interactive reports.
With COVID-19, interactive weekly reporting has become even more important as companies moved to remote and hybrid working modes.
The importance of interactive weekly reports in performance management cannot be emphasized more. It indeed boosts efficiency and motivates the workforce to stay focused as they keep track of their everyday tasks. Employees get to learn how their job contributes to the overarching aims and objectives of the organization, thus contributing more.
Businesses can get a complete picture of key activities that influence various departments and functions with weekly reports. Managers can identify key areas of focus for improving performance management. Employers can keep track of everyday operations, determining where they lack and need to improve. This is beneficial since it aligns with training and development decisions.
Management teams can also utilize these reports to figure out who they should allocate responsibilities to for the coming week and to give better feedback.
The demand for more precise monitoring of performance and tasks has grown as remote work has become a regular feature of the business environment. With an online reporting solution that gives interactive weekly status updates, managers and staff can stay connected even if everyone is working remotely.
There is no set of rules for what your weekly report should look like. To ensure that you get effective results from maintaining a weekly report, ask yourself the following questions when creating a report:
There are no specific rules to follow when creating the perfect weekly performance report because each one will serve a different function. Though you need to keep in mind that a weekly report that is just written to fulfill internal formalities or is only submitted internally and not reviewed, fails to serve its objective, there are a few actions and aspects to follow in order to succeed with weekly reporting.
One of the measures you should take when generating your reports is to incorporate both current and old data in your weekly reporting.
On the one hand, knowing how different tactics and tasks are progressing will keep employees on the same page regarding their performance. Also, they will learn from the many barriers they encountered over the week and identify areas of improvement.
On the other hand, collecting previous data will help you detect trends and patterns in your performance, giving you a better knowledge of your company.
Defining targets and objectives is an important reporting practice. It not only pushes employees to perform better in order to meet their objectives but also allows you to track your progress realistically.
Include KPIs that monitor an annual company objective as well as smaller targets like a weekly quantity of sales or followers to attain, in your weekly performance reports. The main thing to remember here is that not every KPI will accurately represent your aim. So, instead of stuffing your report with irrelevant data, pick the ones that will add value to it.
If we talk about weekly reporting, one of the major advantages is that it improves communication between managers and their teams. Your weekly performance reports should contain accomplished tasks and objectives for the week. This will allow managers to remain on top of the team’s various responsibilities while also keeping track of what has been done in terms of business objectives.
Modern weekly performance reports are useful because they are powerful visual tools that can make the reporting system accessible to everybody, regardless of technical expertise. Incorporate a range of interactive graphs and charts into your interactive weekly reports, since these will allow you to put your data into context and extract key insights quickly.
To begin with, you may use a simple Excel or Google Docs spreadsheet that is loaded with proper reporting format to get you started on your first report. However, completely relying on spreadsheets can be difficult, as it is challenging to handle all the data that grow in both size and volume.
Trello and Asana are two leading and common collaborative project management platforms used by companies to keep track of ongoing and upcoming projects. Both Trello and Asana provide great workflow functionality, where the workspace is divided into different sections to organize and view every project’s progress.
Gantt charts are a type of graphic status reporting that breaks down projects into smaller parts and arrange them on a schedule with deadlines. As most of us are visual learners, utilizing charts and timelines rather than rows of data to explain how a project is moving is significantly more effective.
Performance monitoring is one of the most important factors constituted in weekly reports. Business managers need to be in sync with the daily operations performed by the workforce. Interactive weekly reports indicate the pain points in weekly projects, where the managers can stay up-to-date with employee activities and monitor their weekly performance.
Though monthly, quarterly, and annual report sharing is most effective for business success, it in some way doesn’t provide the instant insights that weekly reports can adhere to. With an interactive weekly report, managers can track key performance indicators (KPIs) to simultaneously improve the process of decision-making, while also keeping clients engaged with data. These KPIs can be used to strengthen the progress of your workforce.
Communication has always been a major shareholder in the success of any business opportunity. With interactive weekly reports, businesses can enhance communication within the workforce and stakeholders. Interactive reporting tools make it easy for companies to view relevant data sources using a single dashboard and ensure that everyone is on the same page when it comes to the latest developments and ventures.
A weekly report should be such that it not only gives you and the supervisors an overview of your current performance but also historical data from previous weeks. As a result, you will benefit from an efficient decision-making process based on facts rather than just human intuition.To learn more about performance tracking and data analysis, visit our blog section.