How Big Data makes ERP more efficient

Thanks to its advanced and expanded analytical functions, Big Data will make ERP solutions more efficient. Here are some of the key benefits it offers.

Accurate predictions

Businesses rely on AI, ERP predictive analytics and advanced reporting to predict future performance. Of course, this capability has a great impact that extends beyond the solutions themselves.
Gartner predicts that by 2022, 65% of businesses will use AI-based ERP strategies to gain a comparative advantage. According to the same study, predictive analytics will emerge as the leading technology for enhanced competitiveness. By minimizing assumptions regarding seasonal demand, supply and financial performance, ERP predictions can offer the necessary insights accurately and in depth.

Improved planning

As ERP offers the ability to analyze more data in less time, it provides even more accurate and efficient insights into any operational issues, so they can be more easily addressed. This way, businesses can plan their processes even more efficiently and allocate their resources where they are really needed.
Another important advantage is real-time monitoring. Since ERP integrates data across the business, users can monitor the status of a particular task and make any necessary adjustments immediately, which ensures the optimal use of manpower and equipment depending on the industry.

Comprehensive customer profiling

Businesses inevitably operate in a customer-centric environment. As a result, they need to use insights to meet the unique and constantly evolving needs of their customers. And while CRM can be an extremely effective solution, it cannot provide all the necessary information and data on its own.
The CRM module of an ERP solution offers more penetrative and effective insights into customer activity than a standalone CRM solution, by analyzing both the overall trends and individual customer buying habits. In addition, the use of Big Data by ERP and AI-based technologies offer highly accurate customer profiles and even more effective targeting of prospects, enabling Sales to focus on those who are most likely to convert.