Gkeysys

Business Analytics and ERP

The benefits of using analytics are legion. With analytics you can get tighter control over your business, increase profitability and chart a new course in an increasingly complex future. One of the changes is that more ERP systems are including a broader range of analytical and business intelligence tools. Instead of having to buy separate tool sets and integrate them with the ERP package, users can simply use what is available built into their package.

The emphasis in these built-in tools is on practicality rather than comprehensiveness. If you want to do elaborate analytics you are probably better off purchasing additional software.

BI functionality will already be built into your ERP system. Gkeysys consultants will help customers for creating dashboards for business analysis.

What is the Connection Between Business Intelligence and ERP?

Your ERP system is responsible for receiving and organizing data, while business intelligence (BI) tools analyze this data to provide actionable insights. Business intelligence and analytics are data management solutions implemented in companies and enterprises to collect historical and present data, while using statistics and software to analyze raw information, and deliver insights for making better future decisions.

• Data Analysis: It is one of the core elements of BI, where the information collected from various functions of an organization is helpful to analyze and guide management decisions.
• Legacy Data: With a credible BI tool, the legacy data collected from various other processes or software can be analyzed appropriately. Without a useful BI tool, it is hard to explain the legacy data.
• Trends & Patterns: With the right tools in place, organizations can illuminate trends and patterns from the collected data and help make quick decisions.

The most common tools for managers in an ERP environment are dashboards which can supply a lot of information at a glance. With ERP systems you can generally start with a dashboard view and then drill down to the underlying data to get the details. This represents a relatively painless way to get introduced to data analysis.

Business Intelligence Features

The interactive dashboards are responsible for providing the businesses with the insights that have never been possible before. These dashboards offer a more holistic view of the company by allowing the decision-makers to deeply analyze the data from different perspectives with just a few clicks.

Data visualization is a process of representing the data in graphical form. As visual information is processed 60,000 times faster than text, it is more likely to be absorbed by the people of all levels within the organization.

Reporting is a part of Business Intelligence that provides data in visualized forms such as tables, graphs and charts. BI reporting analyses the data more accurately for easy understanding.

Predictive analysis is the combination of data, statistical algorithms and machine learning techniques to provide better insights into the future outcome of data based on historical information. More precisely, it's not about what happened, but why it happened and what could happen in the future.