“Business Intelligence and ERP can complement each other”
It has always been common practice to compare Business Intelligence with any analytical tool and for instance even with the Enterprise Resource Planning (ERP) Solutions. We have to understand that both are unique and their purpose is also different. Business Intelligence focuses uses on analytics where as Enterprise Resource Planning focuses on operations.
What’s Enterprise Resource Planning?
Enterprise Resource Planning software provides a platform for various operations across departments and business functions of your organization into a single integrated software. ERP helps in gathering data and storing it in an organized manner instead of many individual software which may lead to interoperability. It is the system which is used to record the transactions as and when it occurs.
What’s Business Intelligence?
The Business Intelligence software is designed to better understand the organizations strength’s and weakness by analyzing all its business data. Business Intelligence helps organization to see relationship between different data and provide metrics though its robust analytical capabilities. It helps organization to determine ROI to your various strategies there by helping in better decision making.
The connect between Enterprise Resource Planning and Business Intelligence.
In earlier days, for Business Intelligence data collection from various sources was performed manually, manipulating the data in spreadsheets, which will still provide you a static report. To achieve this amount of effort and time put forth by various businesses functional across the organization is not worth it. Furthermore, many companies have legacy data left over from previous applications, prior to their ERP implementation.
We need to have the data with logical relationship with proper cross reference or else it is going to be a nightmare. ERP’s ability to consolidate all key data into one platform plays this key role. According to BI-survey.com “Top Business Intelligence trend in BI in 2018: What 2,770 Business Intelligence professionals really think “is data quality and master data management which is closely tied to ERP.
Made for Each Other
The combination of Enterprise Resource Planning and Business Intelligence will provide you with all the desired analytics that helps organization with quicker, precise and better decision making ability. Be it data discovery, visualization or self service BI are nothing until you have solid foundation of data. If your business need to be successful by leveraging the advantage of analytics you data foundation need to be solid and that can be achieved one and only by Enterprise Resource Planning.