Business Intelligence: transforming data into knowledge

Business Intelligence solutions for factories are here to stay. Thanks to BI and their integration with MES systems, industrial companies can improve their decision-making and obtain a global vision of their business.

Business Intelligence tools transform raw data gathered from production processes into knowledge and help improve decision-making in companies. These platforms have continued to evolve since the late 1990s and today represent a pillar of many organizations’ digital transformation.  

The main objective of a business intelligence system is to help companies collect, classify, visualize and analyze data that can be key to the development of their business activities. In this way, they can optimize their operations to the fullest, anticipate future issues and meet customer demands.

Although the manufacturing sector advances at a slower pace than other industries, it has not lagged behind when it comes to incorporating Business Intelligence solutions. In fact, according to one of the latest studies published by Dresner Advisory Services, 89% of the manufacturers that implemented them during 2020 recognize that these solutions have positively impacted their organizations in a major way. 

Additionally, 49% of those surveyed plan to increase their annual investment in Business Intelligence initiatives with an eye on three very clear objectives: reduce costs, increase revenue and make better decisions in a much more agile way and based on reliable data.

What are the advantages of Business Intelligence for industrial companies?

Incorporating Business Intelligence solutions in the manufacturing industry is proven to yield multiple advantages. Here are three examples:

1. Fast data analysis and decision making

Without a Business Intelligence tool, industrial companies waste a lot of time and resources in extracting valuable information from the large amount of data they generate. In turn, this leads to delays in the decision-making process and, ultimately, in the implementation of productivity improvement measures, thus foregoing business opportunities or outright business profits.

To end this problem, manufacturers need to implement a Business Intelligence solution. Thanks to this technology, companies can work with useful information based on data analysis, centralized in a single platform and updated in real time; respond quickly and flexibly to changes in demand; correct bottlenecks in their production plant immediately; improve their operational efficiency; and, as a direct consequence, achieve cost savings.

2. It facilitates cross-department collaboration

Having a Business Intelligence tool also drives the digitization of factories. With this solution, companies can create highly visual and easy to interpret dashboards; develop dashboards with custom indicators and filters; give each user access to the data they really need and share reports across the organization.

One of the objectives of Business Intelligence is to help companies to promote transparency, to connect departments and systems (ERP, CRM, WMS, MES, etc.) and to gain a global overview of what is happening in the company. As a result, everyone in the industrial organization, from operators to managers, is equipped with the tools they need to understand how their decisions affect the business as a whole.

3. Better, more competitive businesses

Business Intelligence solutions offer a huge competitive advantage to the companies that implement them. Analyzing data and trends allows organizations to identify consumer behavior, recognize cross-selling opportunities, predict changes in the market and position themselves as leaders in their sector.

Business intelligence leverages advantages of MES systems

The implementation of an MES system helps industrial companies to manage all the operations involved in their production processes in a comprehensive and efficient way. Moreover, if linked to a Business Intelligence solution, this tool becomes much more useful and represents a real qualitative leap forward when it comes to exploiting data analysis in the factory and driving continuous improvement through key indicators for the organization. 

Mapex’s Control Tower module exemplifies the benefits of this integration. With a responsive web design, this platform can consolidate different data sources into a single dashboard and enables intelligent decision-making choices to reach the production setting.

If you want to find out more about MapexCT, check out its features and advantages on our website or contact our sales team for further information and to request a demo.

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