Do raw numbers alone make any sense to you? Definitely not! Businesses need actionable intelligence to drive growth and build new & sustainable strategies. ERP systems handle thousands of tables of data; the Business Intelligence Tool has to process these entries, cut through the complexities and provide an easy-to-use front end to the decision makers. ERPs are more transactional in nature while Business Intelligence applications offers insights derived from these transactional records.
What’s the use of all this information?
The information from BI Application can be very useful in improving operational efficiencies, making better Sales forecasts, building customer behaviour profiles, understanding their buying patterns and much more.
Basically, the Business Intelligence tools offer you the Right Information at the Right Time in the Right Format. This empowers the management to take real-time strategic decisions based on actionable insights. .
Basically, the Business Intelligence tools offer you the Right Information at the Right Time in the Right Format. This empowers the management to take real-time strategic decisions based on actionable insights.
The Business Benefits
- Consistent and transparent Operational and Financial view of the entire organization
- Helps to streamline Admin, Sales and Marketing expenses
- Simplifies the process of Product Planning and Pricing
- Better Accountability and information sharing between the departments
- Spot important trends and minimize Risks
- Monitor and Optimize Key Performance Indicators (KPIs) for the business
These ERP systems equipped with Business Intelligence can certainly go a long way in predicting the future course of your business and reduce the uncertainty that comes with the dynamically changing business environment. By keeping real-time track of all the key performance factors, you can widen the gap between you and your competitors and become market leaders.
You can learn about the various features offered by Business Intelligence Tools in the blog that will follow – ‘Deep dive into Business Intelligence’.