While I use LaTeX in my own work, Microsoft Word is powerful piece of software, and many of the complaints against Word come down to not being aware of its features. There are many tools you can use to build your research paper; whatever tool you use, learn how to use it proficiently.
This guide on using Microsoft Word for Dissertations covers everything and more that I would have. Also see this
Insert > Field > Links and References > IncludePicture
. This is useful for programmatically generating figures to insert into your document. Likewise, you can insert text from files that you can update using Insert > Field > Links and References > IncludeText
.For a dynamic reports you can use R Markdown and export to a word document. When doing this, use a reference document to set the the styles that you will use. See Happy collaboration with Rmd to docx for more advice on using R Markdown with Word.
When using functions from packages such as xtable, stargazer, or texreg output HTML, which can be copy and pasted into word.
Finally, the [ReporteR][Create Word documents from R](http://davidgohel.github.io/ReporteRs/word.html) package is an alternative method to generate Word Documents from R.