Getting To Know The Term YoY In The Business And Data Included In It

Illustration of YoY's report (Photo: Philippfalkenhagen/Pixabay)

YOGYAKARTA Year on Year (YoY) is one of the commonly used terms in the economic and business fields. YoY is often used to see or evaluate the economic growth of a company on an annual basis. By using YoY, the company can see its performance, whether it increases, is static, or decreases compared to the previous year. Well, for those of you who want to know the term YoY more deeply, see the following article.

It has been mentioned above, YoY stands for the economic phrase Year on Year. This phrase means growth from year to year.

The term YoY is generally used as a solution and a way to compare the performance statistics of a business to the same period last year.

By comparing the statistics of business performance this year with the previous year, YoY was considered more informative than the Month to Month (MtM) report, or monthly reports.

The YoY generalya report presents monthly information. Thus, business actors can see the seasonal trend more clearly.

As is known, sales, profits, and a number of financial matrices often change over time. This condition is known as Peak Season and Low Season.

The static comparison obtained from YoY's calculations can be used as a reference for companies to evaluate performance and determine strategies that can boost economic growth in the coming period.

YoY's calculation that facilitates comparison of several data sets will make it easier for investors or data analysts to see the company's performance on an annual basis.

In addition to comparing the company's performance statistics, the term Year on Year can also be used to evaluate mutual fund performance in previous years. In this case, what is compared is the net asset value of the mutual fund portfolio.

Although a mutual fund has a good YoY graph, investors still need to pay attention to whether the mutual fund growth is stable or has a high level of volatility.

Stable mutual funds are much safer when compared to mutual funds that have a large but unstable rate of change in value.

Another benefit of YoY is that it can be applied to see the economic growth of a country. More specifically, YoY reports can also be applied to several areas such as foreign tourist analysis.

Related to this, YoY's report can be used to see when the peak season from foreign tourist visits so that related agencies and the tourism sector can carry out various marketing and promotion strategies with YoY data.

There are several data that need to be included and calculated in YoY, including:

That's the information about YoY. Hopefully this article can make readers know the term YoY deeper. To get other selected news updates, keep reading VOI.ID.