Benefits of ERP and BI
One of the most difficult challenges facing modern manufacturers is managing the massive amount of data generated each second. The amount of shop-floor information available is simply too large for a person (or even a team of people) to process. And what’s the point of investing in connectivity and data tracking if nothing actionable arises from it?
Many manufacturers go to ERP software to fix this issue. ERP records the details of your operations and transactions while automating processes. However, it might not have the ability to quickly and easily translate big data into actionable insights. That’s what BI is for. BI, or business intelligence, analyzes data and presents it in user-friendly reports and charts to give you a 360-degree view of your enterprise performance.
With the combined power of ERP and BI, you can make data-driven decisions that drive your company forward. BI has the ability to transform data in your ERP software and other applications into critical insights. Below, we explain some of the benefits of integrating ERP and BI to fuel manufacturing growth.
BI can comb through your large ERP databases to deliver actionable insights. Instead of shuffling through several applications and spreadsheets, users can view dynamic dashboards to gain accurate predictions and real-time visibility. From testing what-if scenarios to checking real-time scrap rates, BI makes it easy to gain practical insights fast to elevate decision making.
BI’s granular reports give you an in-depth picture of what’s happening in your enterprise. That means you’ll not only detect problems but identify their root causes. For example, your BI solution can measure Return Material Authorization (RMA) rates, show you that customers returned a particular product because of defective parts and locate exactly where this quality issue is taking place. With this level of insight at your fingertips, your business is unstoppable.
Data analysis once required a team of experts to dedicate their full time to calculating metrics and creating reports. Now, anyone can obtain a sophisticated BI solution to deliver insights at the push of a button. With ERP and enterprise data captured, updated and analyzed in a single place, there’s no more manual data analysis wasting your valuable time.
Furthermore, the right BI application lets you develop reports and dashboards without any coding. Jet Analytics includes drag-and-drop features that let any user create interactive reports and dashboards in minutes. Better yet, these insights are readily available across any mobile device, so you can stay productive on the go.
Automating data analytics and reporting doesn’t just save time; it also prevents you from making critical errors and inconsistencies. When your workforce manually compiles its own reports, your business ends up with incorrectly entered data as well as varying reporting formats and methods of data collection. Executives then waste time and make more errors trying to piece this information together.
When BI is integrated with ERP, everyone across the organization is working with the same data and reporting tools to gain an accurate picture of your enterprise performance. Furthermore, the deep insights of a sophisticated BI solution can add greater precision to your manufacturing processes.
Though many ERP solutions now include BI capabilities, a lot of manufacturers continue to operate multiple reporting tools along with their ERP system. Having multiple access points for your enterprise data hurts your productivity and accuracy and causes confusion among your workforce. That’s why your BI solution should also serve as a data warehouse.
Jet Analytics creates a central data hub for your enterprise. With Jet Analytics, employees can use Excel, Microsoft Power BI, Tableau, Qlik and any other BI or reporting tool to generate insights from your ERP data. This gives your entire organization one place to access critical information and report against your ERP databases. A data warehouse makes it easy for users to access and cross reference different metrics to identify new opportunities and make process improvements.
BI could just as easily stand for business improvements. Data is one of the most precious assets for a manufacturer. Together, BI and ERP can help you leverage the full power of your data. These are some of the specific improvements your manufacturing business can enjoy with ERP and BI:
- Track and reduce inventory costs throughout multiple locations
- Use real-time machine metrics to improve Overall Equipment Effectiveness (OEE) and schedule preventative maintenance
- Gain in-depth insights into production processes to determine how to reduce scrap, improve cycle times and make other valuable enhancements
- Receive instant notifications when there are lapses in quality or efficiency on the shop floor
- Improve demand forecasting
- Collect real-time data across the shop floor to improve traceability and compliance
- Track multiple KPIs, such as product margins, turnover rates and yield rates across multiple locations to optimize decision making
ERP solutions effectively streamline operations and collect vital information, but to truly maximize the value of your software, transform ERP data into actionable insights with BI. ERP and BI will supercharge your productivity and decision making to take your business to the next level.
One of the most effective BI offerings on the market is Jet Analytics. Unlike other BI solutions that take months to install, Jet Analytics can be implemented in hours. Its pre-built data warehouse and analytics tools make it easy to create a central data hub and access real-time metrics. Datix, an Epicor Gold Partner, can fully integrate Epicor ERP and Jet Analytics to make it easier than ever to capitalize on in-depth insights.
Find out how ERP and BI drives manufacturing growth—get in touch with an expert at Datix today!