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Today, businesses are confronted with a high volume and broad range of data that requires effective analysis so that the information can not only be used to enhance and improve business operations, but also provide the business with ability to stay competitive in a business world that has come to rely on technology to maintain profitability. Email marketing has evolved from being a personal invite to email buddies to sending business newsletters to every potential customer. Thus, the current financial position of any company and a realistic valuation of assets is made possible, because of this principle.business analytics

Data Analytics can help startups in identifying and reaching out the right target market for launching product(s) and providing better return on the marketing investments. Institute of Management Accountants Standards of Ethical Conduct (IMASEC) applies to all facets of financial management and accounting.business analytics

Benefit of capital expenditure lasts for more than one accounting period; however, revenue expenses form the backbone of any organization. Now there are two ‘accounts’ or financial statements made by business organizations. With the help of business analytics, the company can empower a team for data analysis to extract targeted information.

Getting your name out there can help land bigger and better opportunities, after all, you are in the marketing business. However, before we go on to the difference between them, let us look at some business conventions regarding derivation of profits in an accounting period.business analytics

Suppose you are the owner of an electronics store and want to know the gross sales over a period of time, say a year. These financial statements are nothing but a reflection of the financial standing of the company or organization. This is due to the fact that companies now realize that there is great importance in taking a data driven approach to decision making as it leads to better outcomes and process improvement.

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