Why do accountants need to be able to code? Finances are data and coding is a very powerful way of interrogating data and using it to drive value-adding insights.
SQL stands for “structured query language” and is coding language to interrogate databases. Too much data and not enough thought can lead to analysis-paralysis but applying a bit of commercial acumen to the data you are collecting can yield some really fruitful results.
Working for a major supermarket chain I merged commodity data with cost price data to identify whether supplier cost increases were commodity driven or just commercial in nature. Using this analytical method and in partnering with buyers I saved £500k in a year.
Amazing what a bit of commercial applied thought and data can achieve!