5 Ways Embedded Analytics Can Help Your Business Chart a Better Decision-making Strategy
Anyone that has ever been on a road trip understands the golden value that a GPS adds. It’s like having a local in the seat next to you, with turn-by-turn directions at the ready. Your typical GPS has a store of maps and popular locations at the ready. It’s a base system – like an ERP. It offers the basic information that can get you from point A to point B. But what if you had more?
What if your GPS was loaded with specialty features (like Waze) that warned you where cops were sitting so that you could adjust your speed and avoid a ticket? What if this app told you that there was debris sitting in the middle of your lane, right around the blind curve in the bend ahead? What if it told you that an accident had traffic stopped ahead and offered a re-direct? What this app could also direct you to the cheapest gas station to save your precious budget?
Well, embedded analytics is the key to turning your basic ERP into a library of valuable information. Similar to a travel GPS, information is delivered in real time to make your decision-making abilities dead-accurate. From revenue management to business process optimization, market forecasting, competitor tracking, and even value-based analysis that translates options into projected dollar-amounts – companies can create the perfect formula of insights to empower strategic value.
So what types of alerts can be embedded into your ERP system to help optimize the importance of your business? Here are a few:
- Inefficient consumption of resources
- Changing customer needs and expectations
- Competitor actions
- Economic market trends
- Talent identification
To explore more about how Business Intelligence can help your business hike a smarter, more efficient path to your goals and projections, reach out to one of our experts today! We would be happy to do a quick complimentary demo on your data! Get started now, set up your demo today!