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.

 Integrating, embedding, and exposing the full value of data

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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