Data Analysis Tools for Manufacturing Industry
Benefits of using Business Intelligence Solutions for your Manufacturing Business
Manufacturing Industry is an integral part of the economy of any country. Therefore, CEOs, managers, and business owners need to run their businesses efficiently. That is possible with the help of tools for business intelligence in the manufacturing industry.
All manufacturing businesses can benefit from having such data analytics tools as they help them operate all of their processes better.
What differentiates manufacturers from other business owners is that their companies create products – be it whole products, components, parts, or other raw materials – rather than providing a service. When there is a production process involved, inefficiency is the worst enemy. Manufacturing BI tools successfully deal with this problem as they assist in monitoring employees and scheduling production timings.
Relying on Business Intelligence for the manufacturing industry is highly beneficial as it gives you access to end-to-end supply chain visibility, meaning that employees can prioritize suppliers, partners, and customers. Using Manufacturing Business Intelligence tools ensures that raw materials meet production requirements while checking and delivering sufficient inventory.
Better operational efficiency is a crucial feature you get from SageData’s data analytics tools for Manufacturing. It allows you to reduce and correct errors during the production cycle.
Why is Business Intelligence for Manufacturing a necessity for every manufacturing business?
BI Tools for Manufacturing Industry provide any of the following benefits for your business:
- Helps you manage your manufacturing business more efficiently by allowing you to plan and organize all resources;
- Allows you to personalize your KPI Dashboard for every employee’s needs – employees on different levels may need to track separate KPIs;
- Grants access to all data repositories for every member of the team, which encourages transparent culture among employees;
- Gives you the possibility to check on your KPIs, your tasks, or your employees anywhere, at any time, from any device;
- Helps you run an efficient, profitable business.
A good Business Intelligence in Manufacturing Industry allows you to create visually engaging reports for all employees or customers.
Your reports provide digestible information on important business matters. Some of the most common ones are:
- Invoices – Important reports for any manufacturing business. It needs to be done accurately and timely, right after production is completed.
- Predictive reports – Used to assess potential risks, failures, and all possible outcomes.
- Inventory reports – Show how much inventory is available to meet production needs.
How BI Tools Work
The development of any successful business solution goes through different stages. Each of those stages fulfills a specific purpose. Listed below, you will see what happens during each step of the process.
Data Collection
This initial stage begins at the exact time you connect your business to all of the available data sources. Then your information is transferred to your Data Warehouse.
Data Manipulation
After all data is collected, the analysis process begins. It consists of many sub-processes such as Anomaly Detection, Data Aggregation, Machine Learning, and Forecasting.
Data Visualization
Helps you convert your analyzed data into digestible reports. Forget those text-only reports that are always difficult to comprehend and increase the possibility of misunderstandings.
Frequently Asked Questions
Should any problems occur, real-time tracking allows you and your team members to react on the spot. Detailed visual reports also help the decision-making process. Having all crucial information highlighted with the help of visual graphs, scatter plots, etc., eliminates possibilities for misunderstanding, making it easier for employees to get to the gist.
Yes! Business Intelligence for Manufacturing helps you regain control over all processes at the production hall. You can create work schedules that will be visible to all employees. Furthermore, you can track how long production processes take, what’s being produced, by whom, and most importantly – whether it’s efficient enough.
Manufacturing is a broadly used term. Depending on your niche, your KPIs may vary, but listed below – you will see some of the most common ones:
- Control panels;
- Work orders;
- Quality control points;
- Alerts;
- Bill of materials;
- Worksheets;
- Planning processes.
Yes! SageData allows you to keep 100% ownership of your data. Data security is of great importance to us as well. To protect your data, we are also HIPAA compliant – we have adapted several procedures and practices to help handle even the most sensitive data.