Big data and ERP have been a massive hit amongst all the business verticals. While big data analytics helps companies to deal with vast amounts of data, ERP software allows organizations to improve their operational efficiency. While most companies have been using these two technologies individually, some industry experts believe that big data and ERP can be integrated to form an even better and effective system that will drastically improve the workings of the industry. Owing to the fact that ERP systems can be integrated with other technologies, the integration between big data and ERP will not be as complex as some business leaders view. While big data and ERP integration might take some time and effort from the company’s part, the results that this integration can provide completely outweigh the minor glitches that the company may face in the period of integration. With companies trying to make the best out of their available resources, the fact that the proper integration of big data and ERP will surely become a handy tool is true. Now, let’s look at some of the reasons why big data and ERP integration is crucial for a business to grow in the modern-day business environment.
1. Better Management of Data: The amount of data that the companies have to go through on a daily basis is mind-boggling. While data management is a key aspect of being successful in today’s business, many fail to have proper control over their data. The companies that can use and analyze that data to leverage their growth opportunities will have a competitive edge over the others. One important big data impact on ERP will be to enable companies to have better control over both structured and unstructured data.
2. Understanding the Tastes of the Customers: The ability to predict what the customer wants is considered to be the holy-grail for a business. With numerous companies operating in all the industry verticals, the tastes and preferences of the customers are constantly changing. The integration of big data and ERP will allow companies to store all the data related with the customers in a centralized location and analyze and interpret the data from there itself. This will, in turn, help companies to track the changing preferences of the customers and formulate their business plans accordingly.
3. Faster Exchange of Information: Processing the data into useful information is only one part of the puzzle and transferring the processed data into relevant departments is as crucial as the first step. By integrating big data and ERP, organizations will be able to process the received information using big data analytics and transfer that information immediately using the ERP system. Owing to the fact that ERP is spread throughout the organization, the transfer of the data from one department to another will happen quickly and seamlessly.
4. Streamlining Business Operations: This is one obvious advantage of big data and ERP integration. Companies are constantly trying to cut unwanted slack and streamline their business operation. Big data and ERP will help companies to identify where things are going wrong and will also assist them to rectify those errors. Less errors means, less unwanted expenses and this translates to better organizational performance. With companies failing to keep track of the unwanted expenses, big data and ERP will significantly help companies to deal with this situation.
5. Informed Decision Making: Decision making is one of the important aspects of having a successful business. Sometimes business decisions have the power to make or break a company. While in the earlier days business leaders took subjective decisions based on their experiences and intuitions big data allows companies to make objective decisions based on the available data. Compared to subjective decisions, the decisions that are taken on the basis of quantified data will help organizations to avoid potholes and tread along the correct path.
The world is changing, so is business. Gone are the days when the producer had the power to control the consumer’s tastes. With more and more companies offering the same products and services, customers have now the power to pick and choose the brands they want to use. The integration of big data and ERP will now help companies to know what the customers want, understand the company’s market position, and take measures to improve their performance.
