The Manufacturing sector has been facing new challenges over the last few years. These include the growing complexity of supply chains associated with globalization, the interconnection between different areas, the entry of industry 4.0 and new industrial processes that force the various industries to undergo a process of renewal. A common aspect of all these new challenges is the need to adopt digital procedures that ensure the management of these complex processes, coordinating them for an efficient operation of the company, and this process of digital transformation, already in progress, thus raises the relevance of Business Intelligence in decision making.
Integrated in an increasingly global, competitive and demanding market, where complexity and instability are the slogans, companies need to quickly have all the information they need to be able to make the best decisions at a strategic level. Therefore, this information becomes indispensable to the adequate management of the expectations of customers and investors, allowing to identify and concentrate the activity of the company in the business processes that can really bring added value to these companies and simultaneously promote their growth and adaptability, generating the expected financial return.
Knowing the fundamental variables for business management and getting the most appropriate balance between them can make all the difference between success, growth and failure of an organization. In this way, to know deeply and in detail the performance of the business and the specifics of the environment where it is inserted, are indispensable requirements for any company that today intends not only to maintain itself, but also to have the capacity to evolve and grow in a market, increasingly demanding and global, which is only possible with the incorporation of Business Intelligence tools.
However, while these tools, according to Gartner, are rated as the # 1 technologies for organizations, only 26% of companies are truly able to extract data, transforming them into insights relevant to their business, setting competitive advantages in their market.
A clear example of this transformation is the Manufacturing sector, as companies in this sector face the constant challenge of increasing their quality levels, reducing costs and increasing their profitability, speed and agility. So, by incorporating a Business Intelligence and Analytics solution, you will be able to become more agile, more adaptable, and scale the global markets.
In this sense, the challenge is the ability to, through the implementation of Business Intelligence (BI) and Analytics solutions, have the essential information to manage with greater efficiency, as well as reduce the costs associated with production. By establishing interconnection and allowing the flow of information from management teams to production lines, they are able to provide unique and timely information for greater efficiency in the decision-making process. In this way, BI models enable organizations to provide the necessary means to analyze the performance of their activity in real time, and in the level of detail required, in a fast, comprehensive and clear understanding.
A BI solution can also respond to the needs of today's companies, ensuring the integrated management of the entire production cycle from orders, through the plant to the customer. This superior analytical capability also enables inventory control and budget development that incorporates production, operations, sales and financial data for forecasting and planning. Thus, when analyzing profits and losses, including analysis of sales of products, raw materials, supplier costs and profitability of different distributors, they promote improved operational efficiency and cost savings. It is, thus, possible to analyze information and decision making anywhere, even outside the factory.
In short, Business Intelligence, in gathering business-related data, is increasingly important in streamlining business and supporting decision-making in a more "intelligent" way. Intelligent is not only the fact that we are in control of the business, but also by the foresight and anticipation of scenarios that allow you to act at the right time.
And, is your organization already producing according to the latest technology trends? Have you ever imagined how efficient you could be if you were already doing it?
Opinion article published in media Vida Económica – June, 2018