Enterprise Resource Planning (ERP) systems play a crucial role in businesses. Unfortunately, not every firm has taken advantages of the benefits an ERP system can have on business. One such advantage that companies should learn to master with this tool is with Big Data. When integrated with Big Data, your ERP system can achieve better processes and drive substantially higher revenue. Marketing expert Mrunal Chokshi shares an article on Customer Think on the huge impact of Big Data on ERP. and why this integration is a necessity for businesses in today’s day and age.
- Understand customers better: What big data does is empower ERP systems with better insights and data, sourced from a variety of new sources, including social media.
- Better supply chain: When ERP is fortified with big data, companies gain access to insights into the supply chain, i.e., an in-depth overview of the processes, assets, etc. that can then be leveraged to streamline the movement of products across the entire supply chain.
- Sales forecasts: Any business needs to be able to make sound sales forecasts. And the duo of ERP and big data helps in this department as well by analyzing inventory and supply chain data.