Let the numbers manage

Author: Nan Zhaoxu
Publisher:
Publish Date: 2003-10-01
Features: A decision-making method based on profit serves as an effective tool for evaluating performance. The size of a company, its operational results, or even whether its operations are sound—all must be expressed numerically. As a result, there are countless pieces of numerical information throughout the company. In fact, many of these numerical pieces of information are not only used by accountants for bookkeeping, analysis, and report preparation but are also highly valuable references for operators, investors, and relevant personnel at all levels. Therefore, a data-driven management model is gaining increasing attention. The focus of a data-driven management model is not on discussing various operational ratios but on providing rational suggestions for budget preparation methods, increasing sales revenue, expanding production equipment, improving financial ratios, and reducing raw material costs, explaining how to effectively utilize internal company data to find efficient operational methods. A decision-making method based on profit serves as an effective tool for evaluating performance. The size of a company, its operational results, or even whether its operations are sound—all must be expressed numerically. As a result, there are countless pieces of numerical information throughout the company. In fact, many of these numerical pieces of information are not only used by accountants for bookkeeping, analysis, and report preparation but are also highly valuable references for operators, investors, and relevant personnel at all levels. Therefore, a data-driven management model is gaining increasing attention. The focus of a data-driven management model is not on discussing various operational ratios but on providing rational suggestions for budget preparation methods, increasing sales revenue, expanding production equipment, improving financial ratios, and reducing raw material costs, explaining how to effectively utilize internal company data to find efficient operational methods.