3. Data Analysis
Since an ERP system is already collecting and processing data from all your business functions, it makes sense to capitalize on that information through analysis. Put simply, this ERP function finds trends and patterns in your processes. Finding trends and patterns in processes enables users to reflect on specific tasks’ effectiveness, and provide forecasts for future business decisions.
ERP software analyzes data relating to all business operations, including client data, production statistics, sales data and much more. For instance, an ERP system can help you predict demand, create a budget and analyze your HR functions. Data analysis offers easy access to vital business data and gives you the tools you need to track organizational productivity and efficiency. If you want a more specific system capabilities example of data analysis, check out some of our business intelligence articles.