If you've ever talked with the support team or the product team, you've probably gotten asked what release of Management Reporter you are using. Here's a quick way to know that update you have on your system.
Go to Help | About in Report Designer:
In the screen shot above, you'll see the version number is 2.1.8000.1. The number 8 in the version number means I'm using Management Reporter 2012 CU8 (Cumulative Update 8). This numbering scheme was added in CU6, so if you see a number like 2.1.1037, that means you are on an update older than CU6.
You can also find the version information in the web viewer by going to Settings | About.
Now that you know what release you are using, you can check out this post to see what features were added in it and other releases.