Business Intelligence systems have improved in performance dramatically over the years, becoming a technology-driven process for analyzing data and presenting information in a way that improves the decision making process at all levels of management. Many organizations, whether they are small or large, are using old, outdated, manual business Intelligence tools and are in need of a replacement. So how do you know if you’re using an old, outdated process? We’re going to highlight three of the signs you’re ready for a business intelligence upgrade below.
Data is an extremely important facet to manufacturing. It can help to keep costs done, in a time when manufacturers are facing narrow profit margins. Real-time data allows manufacturers to react quickly to customer demand, when so many buyers are spending less. Without all of this information and insight into your company, you’re left behind all the competition. Despite all of evidence that accurate manufacturing data can bolster sales and cost-saving, Ventana Research found that only 47 percent of manufacturing businesses regularly deliver monthly, quarterly and yearly reports.
Business Intelligence software is becoming ever popular among business owners. Between powerful data warehousing and financial and budgeting features, it can give rich insight that wasn’t previously so attainable. However, a lot of manufacturers haven’t caught on yet to the new found love for business intelligence. Majority of this issue stems around a lack of information surrounding what business intelligence can do and how it will help manufacturers, specifically. We’re going to dive into manufacturing business intelligence and cover the must-have knowledge to decide if it’s right for your business.