In our recent blog, 3 Issues Facing Discrete Manufacturers in Industry 4.0 , we mentioned the importance of high levels of visibility throughout the production…
You’ve heard the old saying, “Knowledge is power.” In today’s world, data is power. And there’s no shortage of data, from every conceivable source –…
Companies complain that they can’t implement the technology that would enable a single version of truth because they can’t afford it. They believe this technology is too expensive to do them any good.
However, what these businesses neglect to consider is the cost of not putting a single version of the truth in place. Read on to discover the expensive risks you take when you’ve got multiple versions of the truth.
“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.”
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.
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?
Just the term big data is enough to turn some medium sized businesses away. After all, aren’t business intelligence solutions used to collect and analyze large amounts of data reserved for large organizations? Not really, in fact, any business that has been around for a year or more likely has “a ton of big data” ready to help you make better decisions.
So it isn’t the lack of data that holds many medium sized businesses back. Often times, it is the lack of how big stat can help and how to go about leveraging all of that information.
Business Intelligence includes collecting and organizing data from your ERP system to make insightful business decisions. These days, every ERP solution collects and stores a massive amount of data, but if that data cannot be accessed by people in intelligent ways, then the power of the information is limited. So how do the decision makers get the information they need? Reports generated from the ERP database present information in a manner that makes the most sense to the business user.
When a small manufacturing business first gets started, the employees are usually tight-knit enough to exchange information â€œinformallyâ€ by asking the appropriate knowledge expert. In fact, this type of direct request may be the only method of collecting the information if it is stored differently than your own domain-specific information. For example, accounts receivable may keep information in a set of Excel files, while Sales keeps theirs in a proprietary software program. As an organization grows, the need to be able to view data throughout the business in real-time becomes crucial.
In todayâ€™s technology obsessed world, even the delivery of healthcare is dependent on software driven devices. Some are standalone, others are networked together. With the ever growing web of connectivity and the movement towards personal medical care, security issues predictably arise. Hacking has become so common place, we are no longer surprised when it happens. Losing your credit card information is bad enough but what if a wearable device was compromised by an anonymous cyber criminal? Remember, the motivation for someone to control another individualâ€™s pacemaker or insulin pump is irrelevant, the point is that if something can be hacked, someone will find away to do it. Hackers may use these devices as another means to troll for personal information.