Manufacturing BI Software

Manufacturers are always trying to optimize data to improve productivity. Optimized data allows them to accurately measure their performance and understand where their companies stand in terms of profit. To that end, business intelligence (BI) software designed especially for manufacturers can be extremely helpful.

Apart from helping improve productivity, manufacturing BI software allows manufacturers to enhance sales, revenue, and return on investments (ROI) by using insights through data analysis.

However, selecting one manufacturing BI software product from among the hundreds on the market can be overwhelming. That's why we've created this Buyer's Guide to detail everything you need to know before making the final purchase decision.

Here's what we'll cover:

What is manufacturing BI Software?
Common features of manufacturing BI software
What type of buyer are you?
Benefits of manufacturing BI software
Key considerations

What is manufacturing BI software?

Manufacturing BI software collects data such as total units manufactured, total units sold, total shipments, and buyer demographics from a manufacturer's existing systems as well as from across the supply chain. The software then analyzes data and provides actionable insights.

Manufacturing BI software allows manufacturers to make informed business decisions related to future sales strategies, materials management, and buyer targeting.

Common features of manufacturing BI software

Different vendors offer different features in their manufacturing BI software. Selecting the best manufacturing BI software for your setup is easier when you know what the common features are and what they do.

To further understand these features and learn about manufacturing BI software vendors, call our advisors at 855-998-8505 for free, no-obligation help. They'll help you narrow down your options by listening to your requirements and recommending the best-suited solutions for your business.

What type of buyer are you?

Before you start evaluating manufacturing BI software options, you'll want to know what buyer category you belong to. We believe most buyers will fall into one of the below categories:

• Small manufacturers: These businesses are typically transitioning from pen and paper to a more automated system and only need basic BI functions such as data mining and predictive analytics.

• Multilocation manufacturers: Operating multiple manufacturing units adds a layer of complexity to software requirements. These buyers need to understand customer demographics across locations and deal with large volumes of regional data. They require additional features such as data visualization and OLAP to analyze multidimensional data and create different graphical data representations.

• Large (enterprise) buyers: These buyers value the seamless integration of data and processes that comes from having a unified platform for all functions. They appreciate a full-featured solution and would do best to seek an integrated enterprise resource planning (ERP) suite that includes manufacturing management and BI applications, along with other applications such as inventory management, supply chain management, etc.

Benefits of manufacturing BI software

While some of the benefits of manufacturing BI software may be clear from our discussion above, we've called out the most notable ones below:

• Provides actionable insights: Manufacturing BI software provides insights related to manufacturing costs, raw materials usage, shipment costs, etc. using features such as predictive analytics and OLAP. Based on the insights, manufacturers can adjust their production strategy for higher profitability.
• Improves overall sales: Manufacturing BI software helps manufacturing units identify untouched markets, sales trends, and product improvements. These insights help teams enhance their negotiations with customers, suppliers, and vendors to improve total sales.

Key considerations

Here are some important questions to consider before you purchase manufacturing BI software:

• Availability of mobile apps: Manufacturers have to connect with various stakeholders (such as suppliers, vendors, buyers, etc.) at any point in time. Manufacturing BI software with a native mobile app allows them to receive real-time insights into production, shipment, sales status, etc. from anywhere. Look for solutions with mobile apps that work on all leading platforms such as iOS, Android and Windows.
• Scalability: Ask your shortlisted vendors about the scalability of their products. You'll need a solution that supports your manufacturing business as it grows and is able to handle your expanding needs. For instance, if you plan to go from single-location to multilocation manufacturing, the software must be able to handle data from all your locations.
• Customer support: Find out if the vendor offers support 24/7, only during business hours, or not at all. Also, ask about available support options, such as email, phone, or live chat.