To be a food or beverage manufacturer is to face enormous amounts of risk. These are highly regulated industries in which the slightest mistake could…
“I just spent the last three days building a report for the boss on the accept / reject rates at each inspection point. I got an order list from sales. I found paper reports on the inspections. I put it all together in a spreadsheet with beautiful colors and formatting. It was a lot of work and I am proud of the report.”
“That sounds great. Why the glum look?”
“The boss wants even more details. In addition, this report needs to be ready at the end of every month. I cannot spend that much time. I need a better way to publish this report.”
When defining its Business Intelligence (BI) strategy, an organization can take three different approaches, depending on which fits its needs. First, an organization can simply use the out-of-the-box (OOTB) tools that come “for free” with their ERP system. Other businesses may find that they need a third-party BI solution to get the results they are looking for from their BI initiative. Finally, organizations needing a more robust BI system can build their own custom solution.
These days, there are many companies offering Business Intelligence (BI) solutions. While some companies may be offering a cheaper solution, one must consider the benefits of working with a preferred Independent Software Vendor (ISV) before making a selection on package price alone. Though the ISVs that are closest to an ERP software company may be more expensive, that close relationship can pay dividends.
Today, massive amounts of data are available to an organization and a myriad of Business Intelligence (BI) tools promise to make sense of it all. One might think that the more data, the better. However, a business needs to make sure that it is feeding its BI tools the right data, not just more of it.
These days, more and more companies are investing in Business Intelligence (BI) and it is driving today’s business decisions. Mounds of data can be collected across multiple data sources, but it takes BI to make sense of it all and present a unified story of how a business is doing and what it might encounter in the future. BI solutions have matured and many products do a great job of sifting through the data to present insightful analytics and powerful predictive models. So what’s next?
The power and effectiveness of a Business Intelligence (BI) initiative relies heavily on the data driving the analytics and reports. This data needs to be cleaner, deeper, and faster so an organization’s BI tools can do their magic in putting valuable information at the fingertips of their employees throughout the company structure.
Business Intelligence (BI) continues to be one of the hottest topics in the industry. Whatever the aspirations, big or small, the path to a successful BI implementation must be followed with care at every stage. Most important, obvious yet often overlooked, is getting a very clear picture of the ultimate goal of the BI initiative. It’s easy to get caught up in the BI buzz and feel driven to implement something yesterday, which can lead an organization into buying a software package before knowing what it is trying to accomplish.