Reports have the following advantages over Saved Searches:
- Reports contain better formatting options and can provide a better mechanism for analyzing data with built-in charting, as well as better integration with classifications.
- Reports also provide better pivoting options if you're looking to pivot data by subsidiary, department, class, or location.
- NetSuite ships with a number of existing reports which can also operate as templates. You can build a report by customizing the existing report, so you don't have to start from scratch, unlike saved searches.