Why Manufacturers Need Business Intelligence Now More Than Ever

It’s fair to say that manufacturers are facing an uphill battle right now — labor shortages, strained supply chains, and rising costs are all affecting manufacturers’ bottom lines and causing margins to be tighter than ever.

Manufacturers need to find ways to get the most out of their operations so they can work smarter and more efficiently. Business intelligence (BI) and analytics are more important now than ever as they give manufacturers tools to analyze their shops and make better business decisions. BI tools can help manufacturers improve their manufacturing and business processes — which will lead to long-term gains in profitability.

Business Intelligence Explained

Business intelligence (BI) is the process of converting unstructured data into insightful and valuable knowledge about your company that you can use to make more informed decisions.

BI solutions include tools, technologies, and practices that collect, analyze, and organize your data to give you a complete picture of your business. The insights from your data can help to drive change and eliminate inefficiencies across your shop. Analytics of your manufacturing processes can help to improve machine performance, identify bottlenecks, reduce scrap rates, and improve throughput — to maximize productivity and increase profitability.

BI comprises multiple processes and activities, including data mining, analytical processing, performance metrics, data visualization, and reporting.

To perform these complex tasks, manufacturers need to rely on software. Manufacturing is actually one of the most data-intensive industries out there: Manufacturers need advanced business intelligence tools to process and pull insights out of all of the data they create.

Business Intelligence and ERPs

The good news is that most manufacturers already have a tool in their shop that can use for BI — their ERP.

ERPs already serve as a central repository for data, and the majority of high-quality systems now have robust built-in BI tools. A good ERP system will come with a wide variety of beneficial and simple-to-understand analytical tools and reports. These tools and reports make it easy to monitor your key performance indicators (KPIs) and examine your operations to see where you need to make changes.

You no longer need to waste time creating and sifting through spreadsheets to find insights into your operation — your ERP can do this work for you. Live dashboards display all the information your organization needs to stay on top of your operations and make better decisions. You will have all the information you need to set the proper priorities to complete tasks and get jobs completed and out the door on time.

Access to real-time data and analytics connects decision-makers within your business to the information they need and enables them to make the best decisions possible to move your organization forward. BI can help improve production scheduling, inventory control, financial management, and more across your plant.

For instance, your production manager can keep a better eye on your shop floor and make immediate modifications if a bottleneck develops or the scrap rate rises by using dashboards that show real-time results. Senior management can make key decisions and steer your business down the right path with the accurate data, facts, and figures provided by your ERP’s analytical tools. Having access to this data — from your ERP’s built-in BI tools — is one of the most important factors in making good strategic decisions.

Manufacturers in today’s marketplace need to rely on data analytics and business intelligence to move their businesses forward and remain competitive.

Genius Analytics

Genius Analytics is an easy-to-use self-service platform that gives you real-time visibility of your  operation status, efficiency, and performance metrics. With all your data in one place — conveniently displayed through customized dashboards — you can make decisions faster and more confidently. Use it to identify potential problems and bring forward solutions that can drive profit and help your business grow.

Make the Right Decisions When It Counts

Our connected and integrated business intelligence (BI) solution gives you accurate data, facts, and information that support your decision-making and help steer your business in the right direction. We give you all the tools you need to streamline the power of your data and become a confident decision-maker. Maintain control over your processes and identify trends to fine-tune your strategies. Use Genius Analytics to find valuable insights and make the best decisions to grow your business.

Data Tailored to Your Needs

Using real-time, customized, and simple-to-understand dashboards, you can easily and effectively monitor and evaluate your company’s performance. Our dashboards allow you to display accurate and useful data from multiple sources, apply filters, and pick the fields you need for your decision-making process. Leverage Genius Analytics to track progress, productivity, and staff performance to make your business more efficient and profitable.

Built-in Metrics and KPIs

Genius Analytics helps you set performance goals and precisely measure your operations with its built-in metrics library. Instantly create dashboards and reports with our included easy-to-use tools and features. You can use Genius Analytics to quickly turn insights into actions that save you time and money — and help you to make the best decisions that move your business forward.

Key Features and Functionalities:

• Connected and integrated BI tool
• Self-service analytics
• Custom dashboards
• Library of standard reports
• Library of standard metrics and KPIs
• Easy to use – no SQL knowledge necessary
• Seamless on-the-go access through Genius Web
• Tailored reports for custom branding, fields, and displays

Discover more about Genius Analytics and what it can do for you.