How to Survive in a World of Big Data with Intelligent ERP Software?
For years, the slogan "data is the new currency of the digital
age" has been used to suggest that data is an asset that every firm should
pursue and collect. However, for such a valuable item, data loses its worth
astonishingly quickly if it is not "spent" as soon as it is
collected.
In order for developing enterprises to support quicker, more accurate
decision-making and strategic action, there is a discrepancy between data
hoarding and data sharing that prevents potential intelligence from being realized.
Additionally, when more data is left unused, the traditional rules-based legacy
ERP system develops into a potential liability due to the exponential growth in
the amount, variety, and velocity of information.
And here comes Intelligent ERP Software . This technology enables midsize
businesses to balance time-tested rules with automation, self-learning, and
real-time situational prediction by supporting use cases that combine Big Data
with analytics and machine learning.
What is Intelligent ERP?
The term “Intelligent ERP Software” has many variations, but generally refers to
an ERP system that’s integrated with, and can make decisions based on Big Data.
Additionally, intelligent ERP systems are flexible, scalable, and extensible.
They’re able to support the use cases and business rules that will help your
business grow.
Intelligent ERP and Big Data
Businesses need systems that can handle an ever-increasing amount of data—whether it’s customer data, transactional data, or data from sensors and devices. When an ERP system is designed to connect, embed, and reveal data’s full value, it becomes the single source of truth for the organization. The organization decides what data is relevant and how it’s used.
Why is Intelligent ERP Important for Midsize Businesses?
Midsize businesses face challenges specific to their size and industry, and intelligent ERP systems address those challenges. Midsized businesses are resource-constrained and data-rich, which is a challenge because it can make it difficult to distinguish between what is important and what can be ignored. With Intelligent ERP Software, midsize businesses can more accurately assess the data they have, understand what it means, and determine how to use it to make businesses better.
Connecting data means bringing together disparate data sources into one
place in the ERP system. This is neither simple nor quick, but it’s of the
utmost importance for business transformation. Connecting data is the first
step in solving the data challenges of midsize businesses. It gives the
organization access to a single source of truth that can be used to make better
decisions. Midsize businesses typically don’t have the time or resources to
manually connect data sources. They’re also unlikely to have a system that can
connect data natively. Connecting data is an essential capability for any
intelligent ERP solution.
Big Data is the first step toward
achieving meaningful business transformation.
Big Data means more than just bringing together a bunch of data sources;
it means leveraging technologies and approaches to gather, store, and access
data that aren’t standard in the industry. Big Data gives businesses the
opportunity to collect, store, and analyze data to uncover insights and make
better business decisions. A typical large business might have terabytes of
data and the technology to take advantage of it. That same amount of data in a
midsize business might be sitting on a single desktop computer.
Key Takeaways
Big Data is the future, and any enterprise that wants to compete in the
modern business landscape must be able to leverage the power of this
technology. However, for smaller businesses, it’s often too costly and complex
to implement the systems needed. Intelligent ERP Software, on the other hand, allows
smaller companies to take advantage of the data they’ve collected over the
years, without having to invest in an expensive, complicated new system.
ebizframe Intelligent ERP Software is one software
that has proven records of transforming business. With its advanced analytics
and machine learning features of integrating and utilizing the full value of
enterprise data, you can prepare your business for the future.
To know more about ebizframe Intelligent ERP Software, schedule your demo today!
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