10 reasons why you need to use Data Analytics for your business

10 reasons why you need to use Data Analytics for your business

What is Data Analytics?

It is the collection of data, examination, and analysis, interpretation, and displaying of the data in various formats, such as charts, images, etc., using various techniques.

which in addition to being used in the IT industry Business people must learn how Data Analytics works. It will help business people to be able to use it and it will make their work easier. Here are 10 reasons why you will not regret learning Data Analytics.

1. Most of the information today comes from ERP or enterprise planning systems.

2. Can access transaction data such as purchase requests, purchase orders, product receipt records, invoices, payments, etc. through SAP.

3. When a user enters into a transaction, it will be imported into the database so that it can be retrieved and used at any time.

4. A database is a table of entries like in Excel. Product receipt list Invoice list Payment items, etc.

5. So that SAP can work efficiently and quickly. Organizing information called a “Relational database” has the following important characteristics:

-Each table has keys that link it to other tables. 

-Each table has one key called the "primary key". 

-The tables are organized in topic formats. and details To save database storage space

6. Data in your business is organized into modules. For example, purchase orders, and goods receipt data in SAP are organized into MM (or Materials Management) modules, etc.

7. In SAP, as in any ERP system, data is entered in various modules. The data is sent to the FI module (or Finance module). This module is the backbone of the entire SAP system. Through the FI module, financial reports such as balance sheets, profit and loss, etc. can be viewed, allowing us to see the big picture and improve our marketing plans.

8. Analysts can compare the total value of the data with the value in your company's financial reports.

9. Checking whether your financial statements are correct or not. It must be compared with the bank statement.

10. Lastly, Data Analytics can display data and display it in various formats in detail, making it possible to plan for business expansion. and continue to conduct business, can be easily analyzed