DATA
DATA
Da-ta: Noun: facts and statistics collected together for reference or analysis.
If atoms are the building blocks of the physical universe, then data would be the atoms of the business world. Without data, there is no modern business infrastructure. We don’t mean the data used to send funny cat photos to your friends, or the android from Star Trek either. We mean the raw data that is created and observed on a daily basis. Below we will show you a quick example of how data works.
Ten customers came into your store today and bought one Hershey’s candy bar each. That is data.
You made $10.00 total from these ten people. More data.
You paid $0.65 for each Hershey’s candy bar. Data
Studying the data so far, you spent $6.50 and made $10.00, resulting in a $3.50 profit, Which results in even more data.
With the data we just collected, we can tell that selling Hershey’s candy bars is a potentially profitable venture. Doing this each day will expand the data available for seeing if selling Hershey’s candy bars is a long term profitable idea. This example only gives a very small look at the overall type of overall data and statistics a company uses to succeed.
What does this all have to do with payroll though? Like we said before, data is the atoms of the business world. Being a part of the business world, payroll is no exception. Analyzing a company’s financial situation involves data from all departments, and payroll is one of the prominent ones. Minimum wage in Florida is $8.05, which means a minimum wage worker, working only 20 hours a week, will cost $644 for an average four week month. Most businesses don’t have just one employee, so payroll becomes a substantial component of a company’s finances.
With all this data, it may start getting a little confusing. You need organized data to really keep on track.One simple slip up, saving a report in the wrong folder for example, can complicate the entire process. When you are working on keeping track of all this information on your own, it can be like a daily tidal wave. If you own a small business that is still expanding, you may have no other choice. Least, you wouldn’t have a choice if not for companies such as Vision H.R. who are experts at maintaining payroll and all the numbers involved. When it comes to keeping track of information, you are less likely to make mistakes with the less you have to keep watch over. When you outsource your payroll, you get a regular, detailed report from Vision H.R. with all the information you need to analysis your finances and make informed decisions.
So why not put your payroll in good hands, get an unlimited data plan for your mobile phone, and let data work for you. With Vision H.R.’s free quote offer, you really have nothing to lose.
