Importance of Business Intelligent (BI) Modules in the Enterprise Resource Planning (ERP) System

Abstract

Information management is a powerful concept of business performance and balanced administrative growth. Increased globalization has forced firms worldwide to face uncertain levels of competition and operate in a changing business environment.
Business firms are investing heavily in information technology (IT) systems to smoothly organize and coordinate their business activities across their supply chains conduct their business effectively.

The performance of the organisation depends on the decision making of the executives, leaders, team and all levels of the management. Decision is based on the data available from the various department of the organisation. These data can be access from the company's Enterprise resource Planning (ERP) system

Nowadays every organisation is trying to adopt ERP System, which has several modules like Finance, Human Resource, Manufacturing, Sales, Customer Relationship Management, Project management etc. The data available from these modules in an organisation is huge, it will be difficult to streamline the data and as a result, most of the oganisation have been forced to make critical business decisions based on basic, immatureanticipations, intuition and experience rather than on skeptical data analysis. This slows down the decision making process and increases the cost and risk involved inthe business at a much higher level.

In such a scenario   ERP system analytics or Business Intelligence Tool (BI) tools allow users to access,analyse and share the data that the ERP application modules collect from various department of the organisation from a unified repository.

This helps in accurate decision making by all the professionals from executives to line managers to human-resources professionals to accountants in the organisation.

With the implementation of the BI module in an ERP system and the automated reporting and analyses tools,the operations in the organisation can be streamlined and thus improve the business performance. The data access,sharing, control visibility across the various department in the organisation can help business managers and leaders in aligning the operations of the organisation with its important strategic goals.