How Intelligent is Your Business Intelligence?
Summary
Business intelligence (BI) software imports external data from many different sources into the ERP, and presents it in user-friendly fashion via reports, dashboards, charts, graphs and other visual representations. Manufacturers throughout the industry are beginning to recognize that the ability to foresee patterns, trends and market movements and adjust their strategic plans accordingly can generate a significant competitive advantage. The ability to organize and sort only the data buyers want to see saves time, improves efficiency, and reduces labor costs while avoiding production delays due to parts arriving late. Because BI can mine data from so many different sources, it can have more impact on areas such as industrial and economic trends, new and upcoming technologies, consumer demand, supply chain performance, and other external metrics. If there’s one thing the severe supply chain disruptions of a few years ago taught us it’s that companies with the most accurate forecasting have fewer problems obtaining the materials they need.
Classifications
AskAI Classifications
LabelsLinked Companies
