Even in 2022, ERP systems act as the pillar of strength for every business, irrespective
of its size. By integrating the processes of two different organizations under a single
umbrella an ERP system acts as a data storage center to store, circulate and share data
across different branches and departments of the business.
An ERP system can curb your costs and expenses while offering an upper hand over operational
and technical integration of business functions in aligning the stream of information. Owing to the
large scale of data generated by an ERP system, it has found its centrifugal point among
researchers. Are businesses utilizing the ERP system to its prime? Not really. There is a
study stating that a mere 12% of the data businesses collect are under analysis,
whereas 88% get ignored. Forbes prediction states that above 150 trillion gigabytes or
zettabytes of real-time data will require analysis by 2025.
This brings in the newest kind of threat where businesses lose out on huge volume,
velocity and variety of data available in front of them to garner valuable insights. All
these insights can drive financial gain and productivity among your business.
How do you make this happen? That’s through integration of ERP systems with big data
for the purpose of processing, collection and analysis of unstructured and structured
data businesses generates. It’s high time businesses shift gear to profitable ERP
solutions.
INTEGRATE BIG DATA WITH ERP
ERP isn’t a new technology in the market. It has been around for more than 30 years.
Not every data is capable of flowing through an ERP system. Managing big data and the
ERP information becomes tedious since it can pave way for plenty of complexities in the
form of data manipulation. For this reason, many big data tools have embedded
capability to distinguish different sources as well as manipulate them. After you
complete the data manipulation, you can convert it into a user-preferred form. ERP is
capable of acting as a data stream for big data. ERP and Big data, when combined, can
run parallel to each other.
Big Data is capable of impacting an ERP system vehemently while bringing business
transformation. Businesses have the scope to improve all their processes while
improving their ROI and streamline the internal processes.
Let’s explore the plethora of benefits associated with why you need to integrate Big Data
with an ERP system.
Provide Business Insights
Businesses leverage sensor networks to collect semi-structured data type. Big data
helps you collect the data generated in a structured format. This can help out
businesses to receive various insights on production, inventory, and supply chain
management processes. These dashboard-triggered insights can help out businesses
to come up with precise decisions for the organization’s benefit.
Understand what your customer prefers
Many factors such as mobility, social media, IoT sensors and input data can cause a lot
of difference to what ERP and big data are capable of. With social media, users can
analyze the behavior of their audience in terms of engagement. Even when big data
implementation doesn’t improve sales, it can hike up user engagement. When you
combine big data with emerging technologies like AI and ML, it can help you out in
understanding your customer better and offering customized suggestions.
Schedule projects effectively
The most underrated benefit of big data with ERP systems is how it can simplify your
projects. You can process a huge amount of information in a shorter span of time. This
makes the scheduling and management of projects hassle-free. This way, every
business has free access to real-time information. It’s now a breeze to allocate human
resources for the project.
Improve supply management
Every companies should record every supply chain processes. When you integrate Big
Data with ERP, Supply chain visibility gets a huge makeover. Every business can find
elaborate insights on its assets with ERP and big data solutions. When you bring in
real-time data monitoring, every business can optimize the supply chain cycle
movement and product flow. Supervising the product information at various supply
chain stages becomes simplified.
Forecast sales
Sales forecasting takes your business to new heights. With an ERP system like supply
chain management and inventory, every retailer can get high-end insight on sales
patterns. Retailers can manage their supply and demand needs for various products.
This can bring down the times when you overstock materials while increasing revenues.
Future of Big Data and ERP
The stars are shining bright in the ERP arena. Businesses needn’t think twice before
opting for an ERP system combined with Big Data. With the advent of cloud ERP, it
becomes easier to store and access your data anytime, anywhere while deriving the
needed real-time insights from them. Brainstorm with your team on how you want to
leverage Big Data fueled ERP systems, since that’s the future.
