The importance and selection guide of cross-border e-commerce data analysis and financial software
The role of data analysis
Data analysis plays an important role in the daily operation analysis of cross-border e-commerce companies, which is mainly reflected in three aspects: current situation analysis, cause analysis and predictive analysis.
Current situation analysis
Current situation analysis provides the overall operation status of cross-border e-commerce companies at this stage, including the completion of various operating indicators and the development and changes of various businesses, and is used to measure the current operating status of cross-border e-commerce companies. The results of status analysis are usually presented in the form of daily, weekly, monthly, quarterly, annual, etc. reports.
Cause analysis
Cause analysis is to further find the root cause of the problem based on the current situation analysis. For example, the decline in sales may be due to reduced store traffic, reduced conversion rate, or reduced unit price per customer. Find the problem through cause analysis and take appropriate solutions.
Predictive analysis
Predictive analysis is to predict future development trends and help companies formulate operational plans. For example, cross-border e-commerce business operators can predict next month’s sales based on sales trends in recent months, and use this as a basis for operational goals and employee assessment.
Data analysis classification
Data analysis can be divided into three categories according to different purposes and methods: exploratory data analysis (EDA), confirmatory data analysis (CDA) and descriptive data analysis.
Exploratory data analysis
Exploratory data analysis refers to exploring existing data with as few a priori assumptions as possible, focusing on discovering new characteristics of the data. This analysis method focuses on the regularity of the data itself and allows the data to “speak for itself.”
Confirmatory data analysis
Confirmatory data analysis is performed with a pre-set model and focuses on verifying or falsifying existing hypotheses.
Descriptive data analysis
Descriptive data analysis is the analysis of various characteristics of a set of data, such as mean, standard deviation, median, frequency distribution, etc., in order to describe the characteristics and distribution of the measurement sample. This type of analysis is the basis for complex statistical data analysis.
The role of foreign trade e-commerce financial software
With the rapid development of the cross-border e-commerce market, the financial management of foreign trade e-commerce companies has become increasingly complex, and they need to deal with issues such as multiple currency settlements and multiple tax rules. Foreign trade e-commerce financial software emerged as the times require. It can not only automate financial processes, but also handle multiple currency settlements and tax rules.
Automated financial processes
Foreign trade e-commerce financial software can automatically handle invoice management, payment management, report generation and other processes, significantly reducing the time and cost of manual processing of financial data.
Multiple currency settlement
In addition, it can also handle multiple currency settlements, such as US dollars, euros, pounds, renminbi, etc., helping foreign trade e-commerce companies conduct cross-border settlements.
Various tax rules
Financial software can also handle various tax rules to ensure that businesses comply with local tax requirements.
How to choose foreign trade e-commerce financial software
When choosing foreign trade e-commerce financial software, you need to consider the following factors:
Full-featured
First of all, choose software with full functions, including invoice management, payment management, tax management and other functions to meet all the financial needs of the enterprise.
Strong compatibility
Secondly, the software needs to be compatible with various e-commerce platforms and payment methods, and be able to seamlessly connect multiple business processes.
Data analysis ability
In addition, the software should have data analysis capabilities to provide enterprises with financial data analysis and decision-making support.
Service quality
You also need to choose a manufacturer that provides professional after-sales service and support to ensure the stability and reliability of the software and that problems encountered during use can be resolved in a timely manner.
Reasonable cost
Finally, in terms of cost, companies need to make a reasonable balance between software purchase costs, maintenance costs, upgrade costs, etc.