What is market data criterion in SAP PA-EC - Enterprise Compensation Management?

SAP Term: market data criterion

• Component: PA-EC

• Component Name: Enterprise Compensation Management

• Description: Market data criteria are ways of organizing the survey data collected from survey providers in the system. For example, Country, Industry, Region, Revenue size, Company size, Company type, Length of service etc.

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• Key Concepts: 
  Market data criterion is a feature of the SAP PA-EC Enterprise Compensation Management component. It allows users to define criteria for evaluating employee performance based on market data. This data can include salary surveys, industry benchmarks, and other external sources. The criteria can be used to determine compensation levels for employees. 
  
  How to use it: 
  To use the market data criterion feature, users must first define the criteria they want to use. This includes selecting the external sources of data, such as salary surveys or industry benchmarks. Once the criteria have been defined, users can then use it to evaluate employee performance and determine compensation levels. 
  
  Tips & Tricks: 
  When defining criteria for market data criterion, it is important to ensure that the external sources of data are reliable and up-to-date. Additionally, users should consider using multiple sources of data to ensure accuracy and fairness in evaluating employee performance. 
  
  Related Information: 
  The market data criterion feature is part of the SAP PA-EC Enterprise Compensation Management component. Other features of this component include job evaluation, salary planning, and bonus calculation.