4 elements of an efficient business intelligence tool
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4 elements of an efficient business intelligence tool

There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry.  Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.

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Topics: Business Intelligence Basics, Job Role - IT, business intelligence dashboards, data visualizations, Inventory Management, KPIs and metrics

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4 elements of an efficient business intelligence tool

There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry.  Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.

Read more

Topics: Business Intelligence Basics, Job Role - IT, business intelligence dashboards, data visualizations, Inventory Management, KPIs and metrics

The KPIs every manufacturer should know and measure

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When it comes to achieving success in manufacturing, the industry is way beyond the idea that data matters. Manufacturers and the decision-makers that run them understand the value of data and are turning to BI strategies and manufacturing KPIs in times of uncertainty. Leaders want to know how decisions on production runs, purchasing and the supply chain impact their financial KPIs faster than traditional reporting allows so they are looking to BI to provide this insight.

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Topics: Industry - Manufacturing, Job Role - Finance, Job Role - Executive, Dynamic reporting, business intelligence dashboards, Inventory Management, KPIs and metrics

4 ways sales performance metrics can help your sales team

For sales managers, the ability to communicate about the progress of your team in an informative way is essential. In the age of data overload,  this becomes more difficult if you don't have consolidated data that you can rely on. The adoption of sales analytics software has grown throughout the business world because it allows you to set and measure sales performance metrics - an accurate reading of how you are tracking at any given time.

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Topics: Job Role - Sales, Dynamic reporting, KPIs and metrics

Inventory days formula and why it's useful

Inventory days formula is equivalent to the average number of days each item or SKU (stock keeping unit) is in the warehouse. Inventory days is an important inventory metric that measures how long a product is in storage before being sold. If the percentage is high, there may not be enough demand for it, the product might be too expensive or it's time to rethink how it's being promoted.

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Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics

How real-time dashboards keep managers on target

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A real-time dashboard provides up to the minute insight into the performance of numerous business processes from production to delivery. Every department of a company has specific performance metrics that can be monitored to ensure the company is operating at peak performance. Integrating these metrics into a dashboard allows users to spot a problem quickly so you can get right back on track or respond to exactly what your customers need.

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Topics: Business Intelligence Basics, Job Role - Executive, data visualizations, KPIs and metrics

Data management: 6 dos and don’ts of managing your business with data

 


Business intelligence (BI) systems provide a single source of truth for data management across all of your operations’ data. BI aggregates the data in a way that makes it easier for you and your team to access and analyze information for more strategic decision-making. Tracking key metrics across inventory, customer behavior, finance, and other areas of your business has never been more important with the uncertainties that are impacting practically every industry today. As you evaluate your BI strategy and the role analytics plays in your future, consider the following six dos and don’ts for data management to make data more accessible and meaningful to your teams.

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Topics: Business Intelligence Basics, Job Role - Executive, Job Role - Inventory/Operations, decision-making, business intelligence dashboards, data visualizations, KPIs and metrics

What's new in manufacturing software?


In manufacturing, most companies can’t make products any faster or cheaper, so they need to achieve efficiencies through data and the back office. ERP, data analytics and the new Epicor Data Analytics (EDA) Financial Statements manufacturing software helps facilitate these gains. Many manufacturers using Epicor ERPs benefit from the partnership between Phocas and Epicor and use the white-labelled Epicor Data Analytics plus EDA Financial Statements to do systematic analysis of their data and monitor KPIs.

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Topics: Industry - Manufacturing, Financial Statements, data analytics, data visualizations, KPIs and metrics

Manufacturing business intelligence (BI) success stories

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Manufacturers are turning to business intelligence because the process of making products is a huge opportunity for data optimization. Raw materials need to be ordered, received, assembled, packaged, and shipped out for sale in the leanest way. Manufacturers follow the same steps to make each product, and from monitoring these processes with business intelligence, production teams find ways to be more efficient. Data-driven manufacturers use technology to automate most parts of the business —from production through to sales — for competitive advantage.

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Topics: Case Study, Industry - Manufacturing, Industry - Building & Industrial Supplies, Strategy, Management and Performance, Industry - Consumer Goods, KPIs and metrics

Making decisions viable with data

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Do you ever make decisions on the run? Have you dropped the price on a product by a few percent for a good customer and then found they didn’t increase sales and you lost money? Whether you have a family-run organization or an international company, data should be the foundation of your strategic decision-making.  With the right data analysis and tools, what was once a gut-feel decision becomes actionable insight that will lead to greater business success.

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Topics: Business Intelligence Basics, Job Role - Executive, Job Role - Inventory/Operations, decision-making, data visualizations, KPIs and metrics

A critical inventory metric: projected inventory level

With constant streams of data being collected by companies daily, planning for the future is no longer as mysterious as it once was. But it is not a matter of having data that makes forecasting easier; instead, it depends on how the many layers of data are collated and analyzed. When it comes to managing inventory with a software solution, it is critical to establish inventory metrics that drive success for the present and future — making projected inventory level a crucial area to monitor.

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Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics

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