Decision makers are ambushed daily with critical manufacturing problems that require urgent actions or quick adjustments. Issues such as complex logistics, data analytics and rapid time to delivery are crucial and to solve this problem they will need platforms that produce more agile insights from multiple sources with less marginal errors.
The new world of manufacturing BI has arrived
Welcome to the future, welcome to Industry 4.0! All thanks to digitization in manufacturing, we are in the midst of a significant transformation on how things are manufactured. In recent time, the manufacturing industry has witnessed an eruption of innovation which has rapidly gained useful progress with business analytics, big data, machine learning, and artificial intelligence.
Having a look at the amount of data that comes with manufacturing, the opportunities to improve efficiency, flexibility and visibility are limitless when manufacturer merge their experience with a system that combines structured and unstructured data into useful and predictable insights; that’s what exactly business intelligence is all about doing for your business. As a matter of fact, Several reports by Forbes shows that 67 percent of decision-makers believe that analytics will be crucial for business success in 2020 and is no longer an option, but a necessity for 46 percent of manufacturers who agree about implementing data analytics.
In the past manufacturers relied mostly on descriptive data which had its limitations, but with manufacturing business intelligence to the rescue, decision maker’s scale swiftly from descriptive to predictive and prescriptive analytics. Leading manufacturers are powerful when they can gain useful insights, and with platforms like Microsoft Azure and Power BI, they will be able to meet the information needs of a range of specific roles across several production operations. In this regard, we will look at several ways Power BI can help scale your business.
Make clear-cut decisions
One of the main reason a business fails is that it lacks the leadership that can make swift and accurate decisions; not to mention the overwhelming amount of data the manufacturing industry makes─ will be a stress for virtually every manufacturer who hasn’t fully transformed into Business intelligence. With Power BI, you can worry less about bulky; time wasting reports that lag by for weeks and start enjoying Power Bi visibility to make clear-cut decisions.
Deliver/redefine outstanding customer experience
The end goal of every company is to provide exceptional services and value to its customers. And with the constant change of technology, customers will waste no time in moving to the fastest and high-value services available. Providing quality insights that engage a customer is king, that’s why Gartner reports that 2/3 of marketer’s state that customer experience (CX) is the new marketing battlefront.
For the most part, customers care sincerely about a quick delivery, quality work, and a reasonable price; whether your business is into B2B or B2C, you’d need to take your customers concerns more seriously.
Smash up productivity
Manufacturing BI has the potential to solve production bottlenecks, improve slow and repetitive processes while automating routing tasks to bring a higher level of development and prioritization. The business gets to enjoy these benefits especially the workers who can access multiple sources of data on cloud computing platform like Microsoft Azure cloud. That way work becomes seamless and more natural to smash up productivity. Centralize data makes it accessible from any device connected to the cloud service, therefore cutting everybody’s administration time.
Step up marketing goals and sales
Every new technology produced isn’t just made to join the bandwagon of tech history, but made to solve problems, and the ultimate outcome for the business owner is to make smashing sales and meet marketing objectives. Sales analysis enables manufacturing businesses to sell more to new or existing customers, improve target sales and enhance marketing goals.
With manufacturing BI evolving we might not fully grasp the picture now until we look back 30 years from the future and see the tremendous progress in achieving business success using modern innovation.
So, are you ready to go big on your manufacturing business intelligence? Contact us for a demo or to learn more about the features and functionalities of Power BI.