Better BI for better bottom lines
The longevity of your manufacturing business will greatly depend on how you handle, store, analyze, and generally manage the data available to you. The days of production managers and schedulers spending hours trawling through clunky spreadsheets, trying to find how best to produce ten more items per week, are long since gone. In today’s digitally-powered manufacturing environments, traditional means of gathering and storing data are quickly becoming obsolete and inefficient due to the sheer amount of information produced. New ways of data management are called for.
The IoT has created a new world where data is all around us, coming from all angles, and manufacturing and production managers must find a way to harness it and extract relevant analytics and insights from it, so the business can last into the future. This blogpost explains how a better Business Intelligence (BI) approach will yield a better outcome for your business.
BI in Manufacturing: A primer
Business Intelligence is a general term that can be defined as the process of analyzing data and extracting information that can be presented as actionable items. Data holds the key to many aspects of the business: Operational improvement, optimization of pricing strategies, streamlining processes, etc. A lot of valuable information can be extrapolated from this raw data, and the means to do so is BI, through digital tools like Microsoft Dynamics 365 for Operations in combination with Microsoft’s Power BI.
BI through Dynamics 365 for Operations
As a manufacturer, you need to obtain and visualize data in a neat, clear, and easy to understand manner. You need to be able to get a comprehensive general view of your business performance at a glance. Dynamics 365 for Operations includes AI routines to aid you in data management, including next-step recommendations and intelligent analysis. This embedded intelligence helps you where you most need it: your business processes. By providing real-time insights, your business decisions become quicker and easier, leading to better outcomes.
The best way to visualize the gathered data is through a dashboard created through Power BI, which allows you to obtain clear insight into your data. The integration of Power BI enables the data to be visualized through charts, graphs, overlays, and many other customizable visual aids. Such BI toolset will provide 360-visibility for your business, so you can appreciate at a glance where and how things are, and how and where they can be improved.
Deeper insights for a better business
BI is all about driving your business forward through better data management. Microsoft Dynamics 365 for Operations will translate this data into actionable items, which will then enhance strategic planning at the factory. Better, deeper insights mean that your knowledge into what’s needed, when it’s needed, and the associated costs will become an invaluable asset to improve the factory’s overall yield.
BI is an essential factor for your business to grow, and to keep its advantage over your competitors. Your entire BI strategy should encompass all manufacturing processes, to ensure that no one sector of the factory is left out. Put it in another way, you should use data to tell stories. Listen to your data, and see what it has to say. The insights gained from listening closely might make the difference between success and failure, because at the end of the day, better BI means a better bottom line for your business.