Data Driven Decision Making (Business Intelligence) is a must have feature in ERP Systems

 Most organizations gather and deal with enormous information and details each day, from business activities to workforce performance, which makes it hard to keep track and evaluate. Managing data on scattered spreadsheets manually can be a time-consuming, error-prone, and labor-intensive procedure. In order to synchronize information and gain better visibility into insights, companies should opt ERP system integrated with Business Intelligence (BI).

Well, there is no point in having enterprise management the solution that has all the information under one database but isn’t let you go deeper into insights and make better-informed decisions. This is where the best cloud ERP software integrated with Business Intelligence (BI) plays a significant part, helping users access massive data and effectively evaluate business processes information for quick decision-making.

Let’s take this aspect one step further to understand what exactly is BI and why do you need BI in the ERP system.

What exactly is Business Intelligence (BI)?

Business Intelligence (BI) is a suite of multiple software and applications that accumulates business-related data, incorporate it, and display it to users in a comprehensive manner, of course after analysing it thoroughly. It is a mechanism that has the ability to preserve data security, evaluate and present the results in a user-friendly format.

Key features of BI include:

·         Interactive dashboards

·         Data visualization

·         Reporting

·         Predictive analytics

Why Business Intelligence is a Crucial Aspect for ERP System?

ERP (Enterprise Resource Planning) system is a powerful tool in itself to streamline business processes and resources. If it is armed with BI, the potential of ERP software increases to a whole new level and becomes more strong. Nowadays, businesses are moving away from historical data analysis and reporting techniques and leaning towards forecasting, thereby, in such cases, BI in ERP gives users more control over all departments, which brings operational efficiency and strategic future planning.

Business Intelligence in the ERP system enables companies to evaluate, leverage considerable data, and present it in an actionable manner that is easy to understand. The capabilities of enabling scalability, flexibility and mobility have made BI a crucial factor to integrate into the ERP system.

Advantages of Business Intelligence in ERP Software

·         Customized Report Generation

Report generation is a primary and essential phase in data processing. It presents data in several interactivity options like the ability to scroll down, filter, and sort wherein end-user can customize for useful insights.

·         Real-Time Data Accessibility

Departments within the organization can have real-time visibility into the data that simplifies the decision-making process. Accurate and timely information helps organizations in the long-term to determine trends and project opportunities.

·         Risk Reduction

BI tools can help to minimize certain risks involved in businesses by offering real-time, accurate reports and assisting companies in understanding the data in more detail.

Why Switch to Acumatica Cloud ERP Software for Better Data Visualization?

The power BI and Acumatica ERP inbuilt Dashboards & Pivot Tables together can allow organizations to accumulate raw business data, organize it, and present the results for data-driven decision-making. It goes beyond elementary reporting and provides information about businesses to determine trends, inefficiencies, and make smart decisions. 

Acumatica ERP system leverages business intelligence tools to allow users to aggregate information from various sources, extract useful data for strategic planning for today and the future. You can combine data from an ERP database and from external sources like Excel files to attain a 360-degree view of your business operations and customers.

Conclusively, an ERP system with integrated BI tools & Inbuilt tools will render all the data under one platform which results in a more collaborative framework, simplified data processing, and actionable insights. If you’re looking for a full-fledged solution for your business, Acumatica Cloud ERP software could be a viable choice.