Also, if you're interested in maximizing your SC per hour, you can use it to find mining spots...
Select system you want to mine in.
On the bottom right is a dropdown menu, select the commodity you want to mine
Pay attention to the number before the Ore/Gas name, this is the drop rate multiplier, select the highest one.
Mining location of commodity you selected in dropdown will be highlighted (bolded) on the map, sometimes it's hard to spot which one's selected, change drop down back and forth to make sure.
Fly mining ship to location on map, set waypoint, and fly to it ( make sure you're not above or below the waypoint).
For a list of minable commodities and what faction ID/IFF to use, check here: