Hallo Tolga,
Semantic Tags are a new kind of financial infrastructure tool that you can use to simplify your work. You can use semantic tags to set standard key figure definitions that can be used in any report. You can also extend or create new analyses to drill deeper into your financial data and in different ways than was possible before.
comparing with creating alternative hierarchies, from my point of view, with semantic tag it is more flexible to set up or adjust a multi-dimensional reporting within minimal effort.
to get started, You are recommended to go through the documents as below, this document will introduce with the concept, example usage for cash flow, contribution margin, project profitability, product profitability and event based revenue recognition.
https://help.sap.com/viewer/0fa84c9d9c634132b7c4abb9ffdd8f06/latest/en-US/0652186231414216a044d17551...
SAP predeliver a lot semantic tags to make the reporting run smoothly by default. you could find the related within related test script.
hope this is useful for you.
best regards,
liling
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