When you're creating the new report check the box new the bottom that says "Use View" and then select "Installed Product" under View -> Application. Then you just have to select a target and you should be able to save and run the report.
If you get no data your clients probably aren't set to use the "Installed Product" inventory view. To set them up right click on them in the ghost console (you can set views on the containers too and they'll apply to the clients inside) and choose properties. Then click the Inventory tab. Add "Installed Product" using the set views button if you don't see it in the inventory views list.
Then run a refresh inventory task and afterward your report should get data.