The Value of Business Intelligence in ERP Systems

Posted On May 13th, 2019

Business Intelligence (BI) and data are at the core of good decision-making in an organisation. Investing in Microsoft Dynamics 365 Business Central, which has integrated BI into its system will aid better business decision making. BI has long been identified as a valuable asset for a business, providing insights on historical, current and future business trends.

Business Intelligence ERP

What Is Business Intelligence (BI)?

Broadly speaking, Business Intelligence refers to the process of gathering raw data and transforming it into insightful facts, figures and statistics. Instead of manually gathering the data from several different departments and consolidating it (which can take hours or even days to do), you can get faster, more accurate results by using an ERP system with integrated BI capabilities, such as the Microsoft Dynamics 365 Business Central/Navision with Power BI. BI allows you to make informed decisions to grow your business, by analysing patterns and trends in real-time data.

The Benefits of ‘Business Intelligence in ERP Systems’ for Businesses

There are many benefits to investing in an ERP solution like Microsoft Dynamics NAV (Navision) with BI capabilities.

Facilitates Predictive Analysis

For far too long, businesses were focusing all their resources on analysing and studying historical data. The flaw in this approach is that historical data may not always be relevant to the future. So, to make business decisions that will move your business forward, you need to make the shift from historical data analysis to predictive analysis. Microsoft Dynamics 365 Business Central with Power BI facilitates this shift.

Data Warehousing

The sheer amount of data that an ERP system generates on a daily basis can be overwhelming. If the gathered data is not consolidated and processed in real-time, you can end up with a pile of data that is of little practical use to you. This is where Business Intelligence comes in. With Microsoft Dynamics NAV, you can engage in data mining to manage the abundant data generated, transforming it into actionable insights.

Dynamic Reporting

Gone are the days of static, rudimentary reporting. With BI tools integrated in Microsoft Dynamics 365 Business Central, you can now ensure that your employees across the board have access to customised, intuitive data that focuses on the relevant KPIs and facilitates ad hoc reporting. With dynamic reporting, you can save time, eliminate errors and even do away with the need to deliver reports – as all the data is easily accessible by executives across the board as and when they need it.

Taking all the above benefits into consideration, it is clear that the synergy between ERP and BI leads to better, faster and more data-driven decision making.

For more information about ERP systems or to find out how we can help your business, call Austral Dynamics on (+61) 02 9763 2040.